Cleveland Heights, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Cleveland Heights Neighborhoods Since 2000




Cleveland Heights, OH Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Cleveland Heights Housing Market Information

With 44,962 people, 19,236 houses or apartments, and a median cost of homes of $145,048, 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 59.02% of the city's housing units. Other types of housing that are prevalent in Cleveland Heights include large apartment complexes or high rise apartments ( 24.22%), duplexes, homes converted to apartments or other small apartment buildings ( 11.83%), and a few row houses and other attached homes ( 4.59%).

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 55.39% owning and 44.61% renting.

The housing in Cleveland Heights was primarily built before 1939 ( 55.51%), 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 ( 33.66%), followed by between 1970-1999 ( 9.18%). There's also some housing in Cleveland Heights built between 2000 and later ( 1.65%).

Vacant housing appears to be an issue in Cleveland Heights. Fully 11.79% 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 Home Appreciation Rates

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 -1.82%, 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 3.14%, 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 -0.21%, which equates to an annual appreciation rate of -0.82%.

Relative to Ohio, our data show that Cleveland Heights's latest annual appreciation rate is higher than 50% 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.

Average Home Values

 

Median Home Value:
$145,048

Cleveland Heights, OH HOME PRICES

Value Range
> $1,057,000 0.5
$793,001 - $1,057,000 0.8
$529,001 - $793,000 2.8
$423,001 - $529,000 1.5
$317,001 - $423,000 5.2
$211,001 - $317,000 9.1
$106,001 - $211,000 50.1
$53,001 - $106,000 26.4
$0 - $53,000 3.5

Average for OH
Average for Nation

Value Relative to Nation Value Relative to State
52.1504746279152 40.9448818897638

Number Of Homes And Apartments:
19,236

Cleveland Heights Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
-5.35% -0.32% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,068 / per month

Homeownership Rate

Homeownership
Owners 55.39
Renters 44.61
Vacant 11.79

Housing Market Details

 

Age of Homes

AGE OF Cleveland Heights HOMES
2000 or Newer 1.7
1970 - 1999 9.2
1940 - 1969 33.7
1939 or Older 55.5

Types of Homes

TYPE OF Cleveland Heights HOMES
Single-Family 59.0
Townhomes 4.6
Small Apt. Buildings 11.8
Apt. Complexes 24.2
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Cleveland Heights HOMES
No Bedroom 1.55
1 Bedroom 16.21
2 Bedrooms 18.32
3 Bedrooms 36.03
4 Bedrooms 19.54
5 or more bedrooms 8.35