Lakemore, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lakemore, 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

Lakemore Housing Market Information

With a population of 3,048, 1,222 total housing units (homes and apartments), and a median house value of $100,645, house prices in Lakemore are solidly below the national average.

Single-family detached homes are the single most common housing type in Lakemore, accounting for 77.72% of the village's housing units. Other types of housing that are prevalent in Lakemore include row houses and other attached homes ( 13.67%), duplexes, homes converted to apartments or other small apartment buildings ( 6.80%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lakemore. Owner-occupied housing accounts for 79.04% of Lakemore's homes, and 51.98% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Lakemore's housing was primarily built during this period, from the '40s through the '60s. A full 41.85% of the village's housing hails from this era. Other housing ages represented in Lakemore include homes built before 1939 ( 22.07%) and housing constructed between 2000 and later ( 21.93%). There's also some housing in Lakemore built between 1970-1999 ( 14.16%).

Vacant housing appears to be an issue in Lakemore. Fully 15.20% of the housing stock is classified as vacant. Left unchecked, vacant Lakemore homes and apartments can be a drag on the real estate market, holding Lakemore 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.

Lakemore Home Appreciation Rates

Lakemore's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lakemore during the period has been just -1.07%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Lakemore's appreciation rate, at 3.29%, has been at or slightly above the national average. In the latest quarter, Lakemore's appreciation rate has been 0.81%, which annualizes to a rate of 3.28%.

Relative to Ohio, our data show that Lakemore's latest annual appreciation rate is higher than 50% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$100,645

Lakemore, OH HOME PRICES

Value Range
> $1,081,000 0.0
$810,001 - $1,081,000 0.0
$541,001 - $810,000 0.1
$433,001 - $541,000 0.0
$324,001 - $433,000 1.2
$216,001 - $324,000 4.0
$108,001 - $216,000 40.6
$54,001 - $108,000 43.4
$0 - $54,000 10.7

Low for OH
Low for Nation

Value Relative to Nation Value Relative to State
77.1651236376421 78.6089238845144

Number Of Homes And Apartments:
1,222

Lakemore 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
-0.87% -0.05% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$975 / per month

Homeownership Rate

Homeownership
Owners 79.04
Renters 20.96
Vacant 15.20

Housing Market Details

 

Age of Homes

AGE OF Lakemore HOMES
2000 or Newer 21.9
1970 - 1999 14.2
1940 - 1969 41.8
1939 or Older 22.1

Types of Homes

TYPE OF Lakemore HOMES
Single-Family 77.7
Townhomes 13.7
Small Apt. Buildings 6.8
Apt. Complexes 0.8
Mobile Homes 1.0
Other 0.0

Home Size

SIZE OF Lakemore HOMES
No Bedroom 0.62
1 Bedroom 4.30
2 Bedrooms 42.61
3 Bedrooms 42.19
4 Bedrooms 9.78
5 or more bedrooms 0.49