Forest Park, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Forest Park, OH Real Estate Data


Forest Park Housing Market Information

With a population of 18,676, 7,139 total housing units (homes and apartments), and a median house value of $130,168, house prices in Forest Park are solidly below the national average.

Single-family detached homes are the single most common housing type in Forest Park, accounting for 65.31% of the city's housing units. Other types of housing that are prevalent in Forest Park include large apartment complexes or high rise apartments ( 22.19%), row houses and other attached homes ( 6.92%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.05%).

The most prevalent building size and type in Forest Park are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.48% owning and 43.52% renting.

There is a lot of housing in Forest Park 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 Forest Park built between 1940-1969 ( 45.46%). A lesser amount of the housing stock also hails from between 2000 and later ( 4.76%). There's also some housing in Forest Park built before 1939 ( 2.28%).

Forest Park Home Appreciation Rates

Forest Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Forest Park during the period has been just -1.17%, which is lower than 70% of US communities.

Appreciation rates are so strong in Forest Park that despite a nationwide downturn in the housing market, Forest Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Forest Park appreciation rates continue to be some of the highest in America, at 5.81%, which is higher than appreciation rates in 71.61% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Forest Park. Forest Park appreciation rates in the latest quarter were at 2.34%, which equates to an annual appreciation rate of 9.71%.

Relative to Ohio, our data show that Forest Park's latest annual appreciation rate is higher than 70% 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 Forest Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Forest Park - 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 Forest Park real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$130,168

Forest Park, OH HOME PRICES

Value Range
> $1,121,000 0.5
$840,001 - $1,121,000 0.1
$560,001 - $840,000 0.0
$448,001 - $560,000 0.0
$336,001 - $448,000 1.1
$224,001 - $336,000 3.5
$112,001 - $224,000 61.8
$56,001 - $112,000 30.4
$0 - $56,000 2.7

Average for OH
Low for Nation

Value Relative to Nation Value Relative to State
60.6839608830591 56.9553805774278

Number Of Homes And Apartments:
7,139

Rent & Ownership

 

Average Market Rent:
$990 / per month

Homeownership Rate

Homeownership
Owners 56.48
Renters 43.52
Vacant 7.48

Housing Market Details

 

Age of Homes

AGE OF Forest Park HOMES
2000 or Newer 4.8
1970 - 1999 47.5
1940 - 1969 45.5
1939 or Older 2.3

Types of Homes

TYPE OF Forest Park HOMES
Single-Family 65.3
Townhomes 6.9
Small Apt. Buildings 5.1
Apt. Complexes 22.2
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Forest Park HOMES
No Bedroom 0.19
1 Bedroom 8.32
2 Bedrooms 23.35
3 Bedrooms 46.41
4 Bedrooms 20.06
5 or more bedrooms 1.66

Forest Park 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
-1.83% -0.11% 2 1
* 10 is highest