Medina, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Medina, OH Housing Market Trends

With a population of 25,956, 10,306 total housing units (homes and apartments), and a median house value of $218,505, 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 61.97% of the city's housing units. Other types of housing that are prevalent in Medina include large apartment complexes or high rise apartments ( 19.99%), row houses and other attached homes ( 8.24%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.70%).

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 64.22% owning and 35.78% 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 ( 17.82%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.46%). There's also some housing in Medina built before 1939 ( 9.20%).

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 2.72% during the period.

Appreciation rates are so strong in Medina that despite a nationwide downturn in the housing market, Medina real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Medina appreciation rates continue to be some of the highest in America, at 7.00%, which is higher than appreciation rates in 87.04% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Medina. Medina appreciation rates in the latest quarter were at 3.03%, which equates to an annual appreciation rate of 12.66%.

Importantly, this makes Medina one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Ohio, our data show that Medina's latest annual appreciation rate is higher than 80% 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:
$218,505

Medina, OH HOME PRICES

> $1,179,000
0.5%
0.5%
$884,001 - $1,179,000
0.0%
0.0%
$589,001 - $884,000
0.4%
0.4%
$472,001 - $589,000
1.8%
1.8%
$354,001 - $472,000
5.6%
5.6%
$236,001 - $354,000
35.1%
35.1%
$118,001 - $236,000
47.1%
47.1%
$59,001 - $118,000
7.0%
7.0%
$0 - $59,000
2.5%
2.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for OH

Value Relative To Nation

Number Of Homes And Apartments:
10,306

Medina Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
30.07% 1.26%
4
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,074 / per month

Homeownership Rate

Owners
64.2%
64.2%
Renters
35.8%
35.8%
Vacant
4.0%
4.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
13.5%
13.5%
1970 - 1999
59.5%
59.5%
1940 - 1969
17.8%
17.8%
1939 or Older
9.2%
9.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
62.0%
62.0%
Townhomes
8.2%
8.2%
Small Apt. Buildings
7.7%
7.7%
Apt. Complexes
20.0%
20.0%
Mobile Homes
2.1%
2.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.3%
2.3%
1 Bedroom
10.4%
10.4%
2 Bedrooms
25.3%
25.3%
3 Bedrooms
33.7%
33.7%
4 Bedrooms
25.4%
25.4%
5 or more bedrooms
2.9%
2.9%
0.0% 100.0%
% OF HOMES