Medina, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Medina, 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

Medina Housing Market Information

With a population of 26,339, 10,110 total housing units (homes and apartments), and a median house value of $183,080, Medina real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Medina, accounting for 60.89% of the city's housing units. Other types of housing that are prevalent in Medina include large apartment complexes or high rise apartments ( 21.11%), row houses and other attached homes ( 9.50%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.84%).

The most prevalent building size and type in Medina are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.72% owning and 35.28% renting.

There is a lot of housing in Medina 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 Medina built between 1940-1969 ( 18.38%). A lesser amount of the housing stock also hails from before 1939 ( 10.96%). There's also some housing in Medina built between 2000 and later ( 10.64%).

Medina Home Appreciation Rates

Real estate appreciation rates in Medina's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.67% during the period.

Over the last year, Medina appreciation rates have trailed the rest of the nation. In the last twelve months, Medina's appreciation rate has been 3.04%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Medina were at -0.21%, which equates to an annual appreciation rate of -0.82%.

Relative to Ohio, our data show that Medina'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 Medina differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Medina - 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 Medina real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$183,080

Medina, OH HOME PRICES

Value Range
> $1,091,000 0.3
$818,001 - $1,091,000 0.1
$546,001 - $818,000 0.6
$437,001 - $546,000 1.0
$328,001 - $437,000 3.5
$218,001 - $328,000 25.0
$109,001 - $218,000 56.5
$55,001 - $109,000 9.4
$0 - $55,000 3.7

High for OH
High for Nation

Value Relative to Nation Value Relative to State
37.1088714402906 20.2099737532808

Number Of Homes And Apartments:
10,110

Medina 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
5.45% 0.31% 4 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,038 / per month

Homeownership Rate

Homeownership
Owners 64.72
Renters 35.28
Vacant 8.22

Housing Market Details

 

Age of Homes

AGE OF Medina HOMES
2000 or Newer 10.6
1970 - 1999 60.0
1940 - 1969 18.4
1939 or Older 11.0

Types of Homes

TYPE OF Medina HOMES
Single-Family 60.9
Townhomes 9.5
Small Apt. Buildings 6.8
Apt. Complexes 21.1
Mobile Homes 1.7
Other 0.0

Home Size

SIZE OF Medina HOMES
No Bedroom 3.29
1 Bedroom 6.75
2 Bedrooms 28.92
3 Bedrooms 32.66
4 Bedrooms 24.42
5 or more bedrooms 3.96