Elyria, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Elyria, OH Real Estate Data


Elyria Housing Market Information

With a population of 53,775, 22,551 total housing units (homes and apartments), and a median house value of $93,104, house prices in Elyria are some of the most affordable in Ohio as well as the nation.

Single-family detached homes are the single most common housing type in Elyria, accounting for 62.98% of the city's housing units. Other types of housing that are prevalent in Elyria include large apartment complexes or high rise apartments ( 17.93%), duplexes, homes converted to apartments or other small apartment buildings ( 7.63%), and a few row houses and other attached homes ( 5.74%).

The most prevalent building size and type in Elyria are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.92% owning and 42.08% renting.

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. Elyria's housing was primarily built during this period, from the '40s through the '60s. A full 36.70% of the city's housing hails from this era. Other housing ages represented in Elyria include homes built between 1970-1999 ( 34.28%) and housing constructed before 1939 ( 21.20%). There's also some housing in Elyria built between 2000 and later ( 7.82%).

Elyria Home Appreciation Rates

Elyria's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Elyria during the period has been just -2.15%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Elyria's appreciation rate, at 4.31%, has been at or slightly above the national average. In the latest quarter, Elyria's appreciation rate has been 0.12%, which annualizes to a rate of 0.47%.

Relative to Ohio, our data show that Elyria'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 Elyria differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Elyria - 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 Elyria real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$93,104

Elyria, OH HOME PRICES

Value Range
> $1,080,000 0.1
$810,001 - $1,080,000 0.1
$540,001 - $810,000 0.1
$432,001 - $540,000 0.1
$324,001 - $432,000 0.6
$216,001 - $324,000 4.0
$108,001 - $216,000 36.6
$54,001 - $108,000 45.6
$0 - $54,000 12.9

Very Low for OH
Very Low for Nation

Value Relative to Nation Value Relative to State
81.8410875424821 84.1207349081365

Number Of Homes And Apartments:
22,551

Rent & Ownership

 

Average Market Rent:
$841 / per month

Homeownership Rate

Homeownership
Owners 57.92
Renters 42.08
Vacant 8.53

Housing Market Details

 

Age of Homes

AGE OF Elyria HOMES
2000 or Newer 7.8
1970 - 1999 34.3
1940 - 1969 36.7
1939 or Older 21.2

Types of Homes

TYPE OF Elyria HOMES
Single-Family 63.0
Townhomes 5.7
Small Apt. Buildings 7.6
Apt. Complexes 17.9
Mobile Homes 5.6
Other 0.2

Home Size

SIZE OF Elyria HOMES
No Bedroom 1.50
1 Bedroom 8.97
2 Bedrooms 29.91
3 Bedrooms 45.37
4 Bedrooms 12.48
5 or more bedrooms 1.77

Elyria Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
-14.19% -0.88% 1 1
* 10 is highest