Mayfield Heights, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Mayfield Heights Neighborhoods Since 2000




Mayfield Heights, 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

Mayfield Heights Housing Market Information

With 18,840 people, 9,290 houses or apartments, and a median cost of homes of $152,543, Mayfield Heights 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 Mayfield Heights, accounting for 46.45% of the city's housing units. Other types of housing that are prevalent in Mayfield Heights include large apartment complexes or high rise apartments ( 45.43%), row houses and other attached homes ( 5.45%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.66%).

People in Mayfield Heights primarily live in small (one, two or no bedroom) single-family detached homes. 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 63.60% of the city's housing hails from this era. Other housing ages represented in Mayfield Heights include homes built between 1970-1999 ( 28.48%) and housing constructed before 1939 ( 4.88%). There's also some housing in Mayfield Heights built between 2000 and later ( 3.03%).

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 -1.46%, which is lower than 80% of US communities.

Over the last year, Mayfield Heights appreciation rates have trailed the rest of the nation. In the last twelve months, Mayfield Heights's appreciation rate has been 3.07%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mayfield Heights were at -0.21%, which equates to an annual appreciation rate of -0.82%.

Relative to Ohio, our data show that Mayfield Heights's latest annual appreciation rate is higher than 50% 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:
$152,543

Mayfield Heights, OH HOME PRICES

Value Range
> $1,064,000 0.0
$798,001 - $1,064,000 0.0
$532,001 - $798,000 0.6
$425,001 - $532,000 2.2
$319,001 - $425,000 4.5
$213,001 - $319,000 11.7
$106,001 - $213,000 63.8
$53,001 - $106,000 14.5
$0 - $53,000 2.7

High for OH
Average for Nation

Value Relative to Nation Value Relative to State
48.9335520918786 35.5643044619423

Number Of Homes And Apartments:
9,290

Mayfield Heights 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
-3.47% -0.20% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,049 / per month

Homeownership Rate

Homeownership
Owners 49.89
Renters 50.11
Vacant 9.06

Housing Market Details

 

Age of Homes

AGE OF Mayfield Heights HOMES
2000 or Newer 3.0
1970 - 1999 28.5
1940 - 1969 63.6
1939 or Older 4.9

Types of Homes

TYPE OF Mayfield Heights HOMES
Single-Family 46.5
Townhomes 5.5
Small Apt. Buildings 2.7
Apt. Complexes 45.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Mayfield Heights HOMES
No Bedroom 3.22
1 Bedroom 21.83
2 Bedrooms 29.91
3 Bedrooms 36.80
4 Bedrooms 6.52
5 or more bedrooms 1.72