Elyria, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Elyria Neighborhoods Since 2000




Elyria, 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

Elyria Housing Market Information

With a population of 53,775, 22,551 total housing units (homes and apartments), and a median house value of $92,618, 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

Homes have actually lost value in Elyria over the last then years, as home values have seen a decline of 20.05% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Elyria home appreciation rates at -0.21%, which equates to an annual appreciation rate of -0.82%.

NeighborhoodScout's data show that during the latest twelve months, Elyria's appreciation rate, at 3.89%, has been at or slightly above the national average. In the latest quarter, Elyria's appreciation rate has been -0.21%, which annualizes to a rate of -0.82%.

Relative to Ohio, our data show that Elyria's latest annual appreciation rate is higher 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 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:
$92,618

Elyria, OH HOME PRICES

Value Range
> $1,078,000 0.1
$808,001 - $1,078,000 0.1
$539,001 - $808,000 0.1
$431,001 - $539,000 0.1
$324,001 - $431,000 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
82.2834876362358 84.3832020997375

Number Of Homes And Apartments:
22,551

Elyria 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
-14.30% -0.89% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$875 / 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