Cortland, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Cortland Neighborhoods Since 2000




Cortland, 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

Cortland Housing Market Information

With 6,927 people, 3,133 houses or apartments, and a median cost of homes of $148,967, 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 64.31% of the city's housing units. Other types of housing that are prevalent in Cortland include large apartment complexes or high rise apartments ( 12.40%), duplexes, homes converted to apartments or other small apartment buildings ( 11.75%), and a few row houses and other attached homes ( 11.53%).

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 69.81% of Cortland's homes, and 60.99% 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 ( 17.12%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.85%). There's also some housing in Cortland built before 1939 ( 10.73%).

Cortland Home Appreciation Rates

Real estate appreciation rates in Cortland's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.66% during the period.

NeighborhoodScout's data show that during the latest twelve months, Cortland's appreciation rate, at 5.31%, has been at or slightly above the national average. In the latest quarter, Cortland's appreciation rate has been 2.15%, which annualizes to a rate of 8.89%.

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 higher than 80% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$148,967

Cortland, OH HOME PRICES

Value Range
> $1,073,000 0.0
$805,001 - $1,073,000 0.0
$536,001 - $805,000 0.1
$429,001 - $536,000 0.0
$322,001 - $429,000 1.7
$214,001 - $322,000 9.7
$107,001 - $214,000 67.4
$54,001 - $107,000 15.9
$0 - $54,000 5.3

High for OH
Average for Nation

Value Relative to Nation Value Relative to State
50.4629087073714 37.1391076115486

Number Of Homes And Apartments:
3,133

Cortland 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
-4.32% -0.26% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$867 / per month

Homeownership Rate

Homeownership
Owners 69.81
Renters 30.19
Vacant 2.85

Housing Market Details

 

Age of Homes

AGE OF Cortland HOMES
2000 or Newer 10.9
1970 - 1999 61.3
1940 - 1969 17.1
1939 or Older 10.7

Types of Homes

TYPE OF Cortland HOMES
Single-Family 64.3
Townhomes 11.5
Small Apt. Buildings 11.8
Apt. Complexes 12.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Cortland HOMES
No Bedroom 0.00
1 Bedroom 5.30
2 Bedrooms 31.94
3 Bedrooms 42.88
4 Bedrooms 18.11
5 or more bedrooms 1.77