With 44,962 people, 19,530 houses or apartments, and a median cost of homes of $166,655, Cleveland Heights real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Cleveland Heights, accounting for 58.79% of the city's housing units. Other types of housing that are prevalent in Cleveland Heights include large apartment complexes or high rise apartments ( 24.99%), duplexes, homes converted to apartments or other small apartment buildings ( 11.46%), and a few row houses and other attached homes ( 4.55%).
The most prevalent building size and type in Cleveland Heights are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.92% owning and 44.08% renting.
The housing in Cleveland Heights was primarily built before 1939 ( 55.40%), making the housing stock in Cleveland Heights some of the oldest overall in America, although there is a range of ages of homes in Cleveland Heights. The next most important housing age is between 1940-1969 ( 33.93%), followed by between 1970-1999 ( 9.27%). There's also some housing in Cleveland Heights built between 2000 and later ( 1.40%).
Vacant housing appears to be an issue in Cleveland Heights. Fully 11.86% of the housing stock is classified as vacant. Left unchecked, vacant Cleveland Heights homes and apartments can be a drag on the real estate market, holding Cleveland Heights real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Cleveland Heights's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cleveland Heights during the period has been just -1.64%, which is lower than 80% of US communities.
Over the last year, Cleveland Heights appreciation rates have trailed the rest of the nation. In the last twelve months, Cleveland Heights's appreciation rate has been 4.03%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cleveland Heights were at 3.30%, which equates to an annual appreciation rate of 13.87%.
Importantly, this makes Cleveland Heights one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Ohio, our data show that Cleveland Heights's latest annual appreciation rate is lower than 80% of the other cities and towns in Ohio.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Cleveland Heights differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cleveland Heights - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Cleveland Heights real estate investment or home purchase decisions.
|$814,001 - $1,085,000||0.6|
|$542,001 - $814,000||2.8|
|$434,001 - $542,000||1.5|
|$325,001 - $434,000||5.5|
|$217,001 - $325,000||10.2|
|$108,001 - $217,000||51.6|
|$54,001 - $108,000||24.2|
|$0 - $54,000||3.2|
|Value Relative to Nation||Value Relative to State|
|AGE OF Cleveland Heights HOMES|
|2000 or Newer||1.4|
|1970 - 1999||9.3|
|1940 - 1969||33.9|
|1939 or Older||55.4|
|TYPE OF Cleveland Heights HOMES|
|Small Apt. Buildings||11.5|
|SIZE OF Cleveland Heights HOMES|
|5 or more bedrooms||8.72|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
2000 Q1 - 2016 Q3
|* 10 is highest|