Grove City OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Grove City, 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 Q4 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Grove City Housing Market Information

With a population of 41,625, 15,607 total housing units (homes and apartments), and a median house value of $206,239, Grove City real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Grove City, accounting for 65.61% of the city's housing units. Other types of housing that are prevalent in Grove City include large apartment complexes or high rise apartments ( 13.22%), row houses and other attached homes ( 11.10%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.23%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Grove City. Owner-occupied housing accounts for 70.73% of Grove City's homes, and 68.35% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Grove City 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 Grove City built between 2000 and later ( 28.64%). A lesser amount of the housing stock also hails from between 1940-1969 ( 23.35%). There's also some housing in Grove City built before 1939 ( 3.20%).

Grove City Home Appreciation Rates

Appreciation rates for homes in Grove City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 36.64%, which ranks in the top 30% nationwide. This equates to an annual average Grove City house appreciation rate of 3.17%.

NeighborhoodScout's data show that during the latest twelve months, Grove City's appreciation rate, at 4.89%, has been at or slightly above the national average. In the latest quarter, Grove City's appreciation rate has been 0.45%, which annualizes to a rate of 1.81%.

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

Average Home Values

 

Median Home Value:
$206,239

Grove City, OH HOME PRICES

Value Range
> $1,242,000 0.2
$931,001 - $1,242,000 0.3
$620,001 - $931,000 0.3
$497,001 - $620,000 1.0
$373,001 - $497,000 6.2
$248,001 - $373,000 25.2
$124,001 - $248,000 57.8
$62,001 - $124,000 7.4
$0 - $62,000 1.5

Very High for OH
High for Nation

Value Relative to Nation Value Relative to State
37.7372262773723 19.8162729658793

Number Of Homes And Apartments:
15,607

Grove City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
Since 2000:
2000 Q1 - 2019 Q4
46.77% 1.94%
9
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,452 / per month

Homeownership Rate

Homeownership
Owners 70.73
Renters 29.27
Vacant 5.51

Housing Market Details

 

Age of Homes

AGE OF Grove City HOMES
2000 or Newer 28.6
1970 - 1999 44.8
1940 - 1969 23.3
1939 or Older 3.2

Types of Homes

TYPE OF Grove City HOMES
Single-Family 65.6
Townhomes 11.1
Small Apt. Buildings 9.2
Apt. Complexes 13.2
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Grove City HOMES
No Bedroom 0.70
1 Bedroom 6.92
2 Bedrooms 21.61
3 Bedrooms 40.16
4 Bedrooms 28.19
5 or more bedrooms 2.42