Mentor-on-the-Lake, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Mentor-on-the-Lake Neighborhoods Since 2000




Mentor-on-the-Lake, 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

Mentor-on-the-Lake Housing Market Information

With 7,386 people, 3,357 houses or apartments, and a median cost of homes of $145,081, Mentor-on-the-Lake 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 Mentor-on-the-Lake, accounting for 65.42% of the city's housing units. Other types of housing that are prevalent in Mentor-on-the-Lake include large apartment complexes or high rise apartments ( 23.82%), duplexes, homes converted to apartments or other small apartment buildings ( 6.91%), and a few row houses and other attached homes ( 3.85%).

The most prevalent building size and type in Mentor-on-the-Lake are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.30% owning and 37.70% renting.

There is a lot of housing in Mentor-on-the-Lake 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 Mentor-on-the-Lake built between 1940-1969 ( 44.32%). A lesser amount of the housing stock also hails from before 1939 ( 8.01%). There's also some housing in Mentor-on-the-Lake built between 2000 and later ( 1.71%).

Mentor-on-the-Lake Home Appreciation Rates

Mentor-on-the-Lake's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mentor-on-the-Lake during the period has been just -1.37%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Mentor-on-the-Lake's appreciation rate, at 3.19%, has been at or slightly above the national average. In the latest quarter, Mentor-on-the-Lake's appreciation rate has been -0.21%, which annualizes to a rate of -0.82%.

Relative to Ohio, our data show that Mentor-on-the-Lake's latest annual appreciation rate is higher than 50% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$145,081

Mentor-on-the-Lake, OH HOME PRICES

Value Range
> $1,091,000 0.3
$819,001 - $1,091,000 0.0
$546,001 - $819,000 0.4
$437,001 - $546,000 1.8
$328,001 - $437,000 0.2
$218,001 - $328,000 2.8
$109,001 - $218,000 72.7
$55,001 - $109,000 18.9
$0 - $55,000 2.8

Average for OH
Average for Nation

Value Relative to Nation Value Relative to State
52.127036212352 40.6824146981627

Number Of Homes And Apartments:
3,357

Mentor-on-the-Lake 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
2.77% 0.16% 3 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$986 / per month

Homeownership Rate

Homeownership
Owners 62.30
Renters 37.70
Vacant 2.95

Housing Market Details

 

Age of Homes

AGE OF Mentor-on-the-Lake HOMES
2000 or Newer 1.7
1970 - 1999 46.0
1940 - 1969 44.3
1939 or Older 8.0

Types of Homes

TYPE OF Mentor-on-the-Lake HOMES
Single-Family 65.4
Townhomes 3.8
Small Apt. Buildings 6.9
Apt. Complexes 23.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Mentor-on-the-Lake HOMES
No Bedroom 2.08
1 Bedroom 10.90
2 Bedrooms 26.16
3 Bedrooms 50.80
4 Bedrooms 8.30
5 or more bedrooms 1.76

Popular Neighborhoods in Mentor-on-the-Lake

Zip Codes in Mentor-on-the-Lake, OH