menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Mayfield Heights, OH Real Estate Market

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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Mayfield Heights, OH Housing Market Trends

With 19,907 people, 10,057 houses or apartments, and a median cost of homes of $229,977, house prices in Mayfield Heights are solidly below the national average.

Large apartment complexes or high rise apartments are the single most common housing type in Mayfield Heights, accounting for 49.41% of the city's housing units. Other types of housing that are prevalent in Mayfield Heights include single-family detached homes ( 45.18%), row houses and other attached homes ( 3.41%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.90%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

People in Mayfield Heights primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Mayfield Heights has a mixture of owner-occupied and renter-occupied housing.

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. Mayfield Heights's housing was primarily built during this period, from the '40s through the '60s. A full 60.78% of the city's housing hails from this era. Other housing ages represented in Mayfield Heights include homes built between 1970-1999 ( 28.78%) and housing constructed before 1939 ( 7.67%). There's also some housing in Mayfield Heights built between 2000 and later ( 2.77%).

Mayfield Heights Home Appreciation Rates

Mayfield Heights's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mayfield Heights during the period has been just 5.05%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Mayfield Heights's appreciation rate, at 5.03%, has been at or slightly above the national average. In the latest quarter, Mayfield Heights's appreciation rate has been -0.78%, which annualizes to a rate of -3.07%.

Notably, Mayfield Heights's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

Median Home Value

$229,977

Mayfield Heights, OH Home Prices
> $1,253,000
$940,001 - $1,253,000
$626,001 - $940,000
$501,001 - $626,000
$376,001 - $501,000
$250,001 - $376,000
$125,001 - $250,000
$63,001 - $125,000
$0 - $63,000
0.4%
0.4%
0.0%
0.0%
0.3%
0.3%
6.1%
6.1%
5.3%
5.3%
28.2%
28.2%
49.7%
49.7%
7.2%
7.2%
2.7%
2.7%
0% 100.0%
% of Homes
Average

for Ohio

Average

for nation

Number of Homes And Apartments:

10,057

Mayfield Heights Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,748 / per month

Homeownership Rate

Owners
Renters
45.0%
45.0%
55.0%
55.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.2%
6.2%
93.8%
93.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
2.8%
2.8%
28.8%
28.8%
60.8%
60.8%
7.7%
7.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
45.2%
45.2%
3.4%
3.4%
1.9%
1.9%
49.4%
49.4%
0.1%
0.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.8%
2.8%
24.0%
24.0%
30.7%
30.7%
35.8%
35.8%
5.5%
5.5%
1.1%
1.1%
0% 100.0%
% of Homes