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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 1,107 people, 464 houses or apartments, and a median cost of homes of $78,614, house prices in Lowellville are some of the most affordable in Ohio as well as the nation.
Single-family detached homes are the single most common housing type in Lowellville, accounting for 82.92% of the village's housing units. Other types of housing that are prevalent in Lowellville include large apartment complexes or high rise apartments ( 7.21%), duplexes, homes converted to apartments or other small apartment buildings ( 5.88%), and a few mobile homes or trailers ( 2.28%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lowellville. Owner-occupied housing accounts for 70.47% of Lowellville's homes, and 61.67% have either three or four bedrooms, which is average sized relative to America.
The housing in Lowellville was primarily built before 1939 ( 62.62%), making the housing stock in Lowellville some of the oldest overall in America, although there is a range of ages of homes in Lowellville. The next most important housing age is between 1940-1969 ( 21.63%), followed by between 1970-1999 ( 11.76%). There's also some housing in Lowellville built between 2000 and later ( 3.98%).
Vacant housing appears to be an issue in Lowellville. Fully 11.95% of the housing stock is classified as vacant. Left unchecked, vacant Lowellville homes and apartments can be a drag on the real estate market, holding Lowellville 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.
Lowellville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lowellville during the period has been just -1.02%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Lowellville's appreciation rate, at 5.42%, has been at or slightly above the national average. In the latest quarter, Lowellville's appreciation rate has been 2.15%, which annualizes to a rate of 8.89%.
Importantly, this makes Lowellville one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.
Relative to Ohio, our data show that Lowellville's latest annual appreciation rate is higher than 80% of the other cities and towns in Ohio.
|$780,001 - $1,040,000||0.0|
|$520,001 - $780,000||0.0|
|$416,001 - $520,000||0.0|
|$312,001 - $416,000||1.2|
|$208,001 - $312,000||0.0|
|$104,001 - $208,000||16.5|
|$52,001 - $104,000||63.9|
|$0 - $52,000||18.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Lowellville HOMES|
|2000 or Newer||4.0|
|1970 - 1999||11.8|
|1940 - 1969||21.6|
|1939 or Older||62.6|
|TYPE OF Lowellville HOMES|
|Small Apt. Buildings||5.9|
|SIZE OF Lowellville HOMES|
|5 or more bedrooms||3.80|