Medina, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Medina, OH Real Estate Data


Medina Housing Market Information

With 26,339 people, 10,266 houses or apartments, and a median cost of homes of $195,269, 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 59.84% of the city's housing units. Other types of housing that are prevalent in Medina include large apartment complexes or high rise apartments ( 20.28%), row houses and other attached homes ( 10.24%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.06%).

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 64.14% owning and 35.86% 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 ( 18.76%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.20%). There's also some housing in Medina built before 1939 ( 10.57%).

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 -0.34% during the period.

NeighborhoodScout's data show that during the latest twelve months, Medina's appreciation rate, at 4.94%, has been at or slightly above the national average. In the latest quarter, Medina's appreciation rate has been 3.30%, which annualizes to a rate of 13.87%.

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 lower 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:
$195,269

Medina, OH HOME PRICES

Value Range
> $1,135,000 0.2
$852,001 - $1,135,000 0.1
$568,001 - $852,000 0.5
$454,001 - $568,000 0.7
$341,001 - $454,000 3.3
$227,001 - $341,000 24.7
$114,001 - $227,000 58.1
$57,001 - $114,000 9.4
$0 - $57,000 3.0

Very High for OH
High for Nation

Value Relative to Nation Value Relative to State
34.3268724014757 16.5354330708661

Number Of Homes And Apartments:
10,266

Rent & Ownership

 

Average Market Rent:
$1,046 / per month

Homeownership Rate

Homeownership
Owners 64.14
Renters 35.86
Vacant 8.14

Housing Market Details

 

Age of Homes

AGE OF Medina HOMES
2000 or Newer 11.2
1970 - 1999 59.5
1940 - 1969 18.8
1939 or Older 10.6

Types of Homes

TYPE OF Medina HOMES
Single-Family 59.8
Townhomes 10.2
Small Apt. Buildings 8.1
Apt. Complexes 20.3
Mobile Homes 1.6
Other 0.0

Home Size

SIZE OF Medina HOMES
No Bedroom 2.31
1 Bedroom 6.55
2 Bedrooms 30.74
3 Bedrooms 31.36
4 Bedrooms 24.97
5 or more bedrooms 4.06

Medina Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
8.22% 0.47% 4 1
* 10 is highest