Cortland, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Cortland Neighborhoods Since 2000




Cortland, OH Real Estate Data


Cortland Housing Market Information

With 6,927 people, 3,162 houses or apartments, and a median cost of homes of $144,683, Cortland 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 Cortland, accounting for 64.77% of the city's housing units. Other types of housing that are prevalent in Cortland include row houses and other attached homes ( 12.52%), large apartment complexes or high rise apartments ( 12.09%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.62%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cortland. Owner-occupied housing accounts for 70.58% of Cortland's homes, and 62.06% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cortland built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Cortland built between 1940-1969 ( 18.15%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.29%). There's also some housing in Cortland built before 1939 ( 10.80%).

Cortland Home Appreciation Rates

Cortland's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cortland during the period has been just -1.03%, which is lower than 70% of US communities.

Over the last year, Cortland appreciation rates have trailed the rest of the nation. In the last twelve months, Cortland's appreciation rate has been 4.15%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cortland were at 3.77%, which equates to an annual appreciation rate of 15.96%.

Importantly, this makes Cortland 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 Cortland's latest annual appreciation rate is lower than 70% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$144,683

Cortland, OH HOME PRICES

Value Range
> $1,074,000 0.0
$805,001 - $1,074,000 0.0
$537,001 - $805,000 0.1
$429,001 - $537,000 0.0
$322,001 - $429,000 1.2
$215,001 - $322,000 6.8
$107,001 - $215,000 74.0
$53,001 - $107,000 13.4
$0 - $53,000 4.5

Average for OH
Average for Nation

Value Relative to Nation Value Relative to State
53.3290390583826 44.3569553805774

Number Of Homes And Apartments:
3,162

Rent & Ownership

 

Average Market Rent:
$787 / per month

Homeownership Rate

Homeownership
Owners 70.58
Renters 29.42
Vacant 2.71

Housing Market Details

 

Age of Homes

AGE OF Cortland HOMES
2000 or Newer 11.3
1970 - 1999 59.8
1940 - 1969 18.2
1939 or Older 10.8

Types of Homes

TYPE OF Cortland HOMES
Single-Family 64.8
Townhomes 12.5
Small Apt. Buildings 10.6
Apt. Complexes 12.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Cortland HOMES
No Bedroom 0.52
1 Bedroom 6.92
2 Bedrooms 28.15
3 Bedrooms 42.34
4 Bedrooms 19.72
5 or more bedrooms 2.34

Cortland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2016 Q3
-5.04% -0.30% 1 1
* 10 is highest