Kent, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Kent, OH Real Estate Data


Kent Housing Market Information

With 29,810 people, 9,839 houses or apartments, and a median cost of homes of $178,392, Kent real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Kent, accounting for 42.33% of the city's housing units. Other types of housing that are prevalent in Kent include large apartment complexes or high rise apartments ( 38.72%), duplexes, homes converted to apartments or other small apartment buildings ( 13.21%), and a few row houses and other attached homes ( 5.66%).

Kent is dominated by renter-occupied one, two, or no bedrooms apartments. 67.80% of Kent's dwellings are rentals.

There is a lot of housing in Kent 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 Kent built between 1940-1969 ( 33.91%). A lesser amount of the housing stock also hails from before 1939 ( 15.55%). There's also some housing in Kent built between 2000 and later ( 9.83%).

Vacant housing appears to be an issue in Kent. Fully 16.32% of the housing stock is classified as vacant. Left unchecked, vacant Kent homes and apartments can be a drag on the real estate market, holding Kent real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Kent Home Appreciation Rates

Real estate appreciation rates in Kent's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.04% during the period.

Appreciation rates are so strong in Kent that despite a nationwide downturn in the housing market, Kent real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Kent appreciation rates continue to be some of the highest in America, at 7.12%, which is higher than appreciation rates in 85.62% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Kent. Kent appreciation rates in the latest quarter were at 1.68%, which equates to an annual appreciation rate of 6.91%.

Relative to Ohio, our data show that Kent's latest annual appreciation rate is higher than 90% 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 Kent differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Kent - 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 Kent real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$178,392

Kent, OH HOME PRICES

Value Range
> $1,163,000 0.5
$872,001 - $1,163,000 0.0
$581,001 - $872,000 0.2
$465,001 - $581,000 1.0
$349,001 - $465,000 3.1
$233,001 - $349,000 13.9
$116,001 - $233,000 65.2
$58,001 - $116,000 12.4
$0 - $58,000 3.7

High for OH
High for Nation

Value Relative to Nation Value Relative to State
39.9074778942437 24.5406824146982

Number Of Homes And Apartments:
9,839

Rent & Ownership

 

Average Market Rent:
$936 / per month

Homeownership Rate

Homeownership
Owners 32.20
Renters 67.80
Vacant 16.32

Housing Market Details

 

Age of Homes

AGE OF Kent HOMES
2000 or Newer 9.8
1970 - 1999 40.7
1940 - 1969 33.9
1939 or Older 15.5

Types of Homes

TYPE OF Kent HOMES
Single-Family 42.3
Townhomes 5.7
Small Apt. Buildings 13.2
Apt. Complexes 38.7
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Kent HOMES
No Bedroom 3.87
1 Bedroom 19.16
2 Bedrooms 29.88
3 Bedrooms 30.75
4 Bedrooms 11.60
5 or more bedrooms 4.75

Kent 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
12.54% 0.70% 5 1
* 10 is highest