Mentor, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Mentor, 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 Housing Market Information

With a population of 46,901, 19,505 total housing units (homes and apartments), and a median house value of $179,827, Mentor real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Mentor, accounting for 80.02% of the city's housing units. Other types of housing that are prevalent in Mentor include large apartment complexes or high rise apartments ( 8.38%), row houses and other attached homes ( 7.14%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.20%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mentor. Owner-occupied housing accounts for 84.01% of Mentor's homes, and 75.95% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Mentor 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 built between 1940-1969 ( 40.44%). A lesser amount of the housing stock also hails from before 1939 ( 6.57%). There's also some housing in Mentor built between 2000 and later ( 6.54%).

Mentor Home Appreciation Rates

Real estate appreciation rates in Mentor's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.76% during the period.

NeighborhoodScout's data show that during the latest twelve months, Mentor's appreciation rate, at 3.74%, has been at or slightly above the national average. In the latest quarter, Mentor's appreciation rate has been -0.21%, which annualizes to a rate of -0.82%.

Relative to Ohio, our data show that Mentor's latest annual appreciation rate is higher than 60% 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 Mentor differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mentor - 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 Mentor real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$179,827

Mentor, OH HOME PRICES

Value Range
> $1,099,000 0.2
$824,001 - $1,099,000 0.1
$550,001 - $824,000 0.1
$439,001 - $550,000 0.7
$330,001 - $439,000 5.1
$220,001 - $330,000 26.1
$110,001 - $220,000 50.5
$55,001 - $110,000 12.9
$0 - $55,000 4.2

High for OH
High for Nation

Value Relative to Nation Value Relative to State
38.2514941989921 21.259842519685

Number Of Homes And Apartments:
19,505

Mentor 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
6.34% 0.36% 4 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,050 / per month

Homeownership Rate

Homeownership
Owners 84.01
Renters 15.99
Vacant 5.81

Housing Market Details

 

Age of Homes

AGE OF Mentor HOMES
2000 or Newer 6.5
1970 - 1999 46.4
1940 - 1969 40.4
1939 or Older 6.6

Types of Homes

TYPE OF Mentor HOMES
Single-Family 80.0
Townhomes 7.1
Small Apt. Buildings 3.2
Apt. Complexes 8.4
Mobile Homes 1.3
Other 0.0

Home Size

SIZE OF Mentor HOMES
No Bedroom 1.36
1 Bedroom 3.19
2 Bedrooms 15.78
3 Bedrooms 52.18
4 Bedrooms 23.77
5 or more bedrooms 3.72