Eastlake, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Eastlake, 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

Eastlake Housing Market Information

With 18,232 people, 7,831 houses or apartments, and a median cost of homes of $139,318, house prices in Eastlake are solidly below the national average.

Single-family detached homes are the single most common housing type in Eastlake, accounting for 81.12% of the city's housing units. Other types of housing that are prevalent in Eastlake include large apartment complexes or high rise apartments ( 14.23%), row houses and other attached homes ( 2.31%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.87%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Eastlake. Owner-occupied housing accounts for 71.46% of Eastlake's homes, and 65.77% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Eastlake's housing was primarily built during this period, from the '40s through the '60s. A full 52.67% of the city's housing hails from this era. Other housing ages represented in Eastlake include homes built between 1970-1999 ( 37.60%) and housing constructed before 1939 ( 7.38%). There's also some housing in Eastlake built between 2000 and later ( 2.35%).

Eastlake Home Appreciation Rates

Homes have actually lost value in Eastlake over the last then years, as home values have seen a decline of 19.66% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Eastlake home appreciation rates at -0.21%, which equates to an annual appreciation rate of -0.82%.

Over the last year, Eastlake appreciation rates have trailed the rest of the nation. In the last twelve months, Eastlake's appreciation rate has been 1.63%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Eastlake were at -0.21%, which equates to an annual appreciation rate of -0.82%.

Relative to Ohio, our data show that Eastlake's latest annual appreciation rate is lower than 60% 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 Eastlake differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Eastlake - 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 Eastlake real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$139,318

Eastlake, OH HOME PRICES

Value Range
> $1,035,000 0.0
$776,001 - $1,035,000 1.2
$518,001 - $776,000 0.2
$414,001 - $518,000 0.5
$311,001 - $414,000 2.0
$207,001 - $311,000 7.1
$104,001 - $207,000 60.7
$52,001 - $104,000 26.4
$0 - $52,000 1.9

Average for OH
Average for Nation

Value Relative to Nation Value Relative to State
55.0626977616313 45.9317585301837

Number Of Homes And Apartments:
7,831

Eastlake 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
-6.88% -0.41% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$927 / per month

Homeownership Rate

Homeownership
Owners 71.46
Renters 28.54
Vacant 5.11

Housing Market Details

 

Age of Homes

AGE OF Eastlake HOMES
2000 or Newer 2.4
1970 - 1999 37.6
1940 - 1969 52.7
1939 or Older 7.4

Types of Homes

TYPE OF Eastlake HOMES
Single-Family 81.1
Townhomes 2.3
Small Apt. Buildings 1.9
Apt. Complexes 14.2
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Eastlake HOMES
No Bedroom 1.47
1 Bedroom 8.45
2 Bedrooms 22.83
3 Bedrooms 52.28
4 Bedrooms 13.49
5 or more bedrooms 1.49