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 Q1 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (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 41,022, 15,125 total housing units (homes and apartments), and a median house value of $192,801, Grove City real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Grove City, accounting for 64.54% of the city's housing units. Other types of housing that are prevalent in Grove City include large apartment complexes or high rise apartments ( 13.52%), row houses and other attached homes ( 10.77%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.01%).

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 69.04% of Grove City's homes, and 68.33% 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 ( 28.33%). A lesser amount of the housing stock also hails from between 1940-1969 ( 23.27%). There's also some housing in Grove City built before 1939 ( 2.92%).

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 26.67%, which ranks in the top 30% nationwide. This equates to an annual average Grove City house appreciation rate of 2.39%.

Appreciation rates are so strong in Grove City that despite a nationwide downturn in the housing market, Grove City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Grove City appreciation rates continue to be some of the highest in America, at 6.59%, which is higher than appreciation rates in 71.66% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Grove City. Grove City appreciation rates in the latest quarter were at 0.71%, which equates to an annual appreciation rate of 2.85%.

Relative to Ohio, our data show that Grove City'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 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:
$192,801

Grove City, OH HOME PRICES

Value Range
> $1,258,000 0.3
$943,001 - $1,258,000 0.1
$629,001 - $943,000 0.1
$503,001 - $629,000 0.9
$377,001 - $503,000 5.3
$251,001 - $377,000 24.0
$126,001 - $251,000 59.9
$63,001 - $126,000 7.7
$0 - $63,000 1.8

High for OH
Average for Nation

Value Relative to Nation Value Relative to State
40.1313868613139 22.8346456692913

Number Of Homes And Apartments:
15,125

Grove City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
40.71% 1.79%
9
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,463 / per month

Homeownership Rate

Homeownership
Owners 69.04
Renters 30.96
Vacant 6.90

Housing Market Details

 

Age of Homes

AGE OF Grove City HOMES
2000 or Newer 28.3
1970 - 1999 45.5
1940 - 1969 23.3
1939 or Older 2.9

Types of Homes

TYPE OF Grove City HOMES
Single-Family 64.5
Townhomes 10.8
Small Apt. Buildings 10.0
Apt. Complexes 13.5
Mobile Homes 1.2
Other 0.0

Home Size

SIZE OF Grove City HOMES
No Bedroom 0.88
1 Bedroom 6.10
2 Bedrooms 22.59
3 Bedrooms 40.40
4 Bedrooms 27.93
5 or more bedrooms 2.10