Gahanna, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Gahanna Neighborhoods Since 2000




Gahanna, 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

Gahanna Housing Market Information

With 34,590 people, 12,956 houses or apartments, and a median cost of homes of $241,633, Gahanna real estate is some of the most expensive in Ohio, although Gahanna home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Gahanna, accounting for 71.02% of the city's housing units. Other types of housing that are prevalent in Gahanna include large apartment complexes or high rise apartments ( 13.01%), row houses and other attached homes ( 7.92%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.65%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Gahanna. Owner-occupied housing accounts for 73.32% of Gahanna's homes, and 72.57% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Gahanna 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 Gahanna built between 1940-1969 ( 25.44%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.63%). There's also some housing in Gahanna built before 1939 ( 1.20%).

Gahanna Home Appreciation Rates

Appreciation rates for homes in Gahanna have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.73%, which ranks in the top 30% nationwide. This equates to an annual average Gahanna house appreciation rate of 0.93%.

Appreciation rates are so strong in Gahanna that despite a nationwide downturn in the housing market, Gahanna real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Gahanna appreciation rates continue to be some of the highest in America, at 5.84%, which is higher than appreciation rates in 72.74% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Gahanna. Gahanna appreciation rates in the latest quarter were at 0.34%, which equates to an annual appreciation rate of 1.37%.

Relative to Ohio, our data show that Gahanna's latest annual appreciation rate is higher than 80% 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 Gahanna differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Gahanna - 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 Gahanna real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$241,633

Gahanna, OH HOME PRICES

Value Range
> $1,173,000 0.2
$879,001 - $1,173,000 0.3
$586,001 - $879,000 0.9
$469,001 - $586,000 2.2
$352,001 - $469,000 10.5
$234,001 - $352,000 28.2
$117,001 - $234,000 51.5
$59,001 - $117,000 4.2
$0 - $59,000 1.9

Very High for OH
High for Nation

Value Relative to Nation Value Relative to State
23.8544474393531 8.26771653543307

Number Of Homes And Apartments:
12,956

Gahanna 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
28.19% 1.45% 9 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,201 / per month

Homeownership Rate

Homeownership
Owners 73.32
Renters 26.68
Vacant 2.54

Housing Market Details

 

Age of Homes

AGE OF Gahanna HOMES
2000 or Newer 10.6
1970 - 1999 62.7
1940 - 1969 25.4
1939 or Older 1.2

Types of Homes

TYPE OF Gahanna HOMES
Single-Family 71.0
Townhomes 7.9
Small Apt. Buildings 7.7
Apt. Complexes 13.0
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Gahanna HOMES
No Bedroom 1.29
1 Bedroom 5.35
2 Bedrooms 17.41
3 Bedrooms 38.60
4 Bedrooms 33.97
5 or more bedrooms 3.37