Millersburg, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Millersburg, OH Real Estate Data


Millersburg Housing Market Information

With 3,151 people, 1,230 houses or apartments, and a median cost of homes of $118,972, house prices in Millersburg are solidly below the national average.

Single-family detached homes are the single most common housing type in Millersburg, accounting for 61.21% of the village's housing units. Other types of housing that are prevalent in Millersburg include duplexes, homes converted to apartments or other small apartment buildings ( 17.29%), mobile homes or trailers ( 9.77%), and a few large apartment complexes or high rise apartments ( 9.21%).

People in Millersburg primarily live in small (one, two or no bedroom) single-family detached homes. Millersburg has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Millersburg's housing was primarily built during this period, from the '40s through the '60s. A full 32.47% of the village's housing hails from this era. Other housing ages represented in Millersburg include homes built before 1939 ( 31.34%) and housing constructed between 1970-1999 ( 30.29%). There's also some housing in Millersburg built between 2000 and later ( 5.90%).

Vacant housing appears to be an issue in Millersburg. Fully 13.56% of the housing stock is classified as vacant. Left unchecked, vacant Millersburg homes and apartments can be a drag on the real estate market, holding Millersburg real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Millersburg Home Appreciation Rates

Millersburg's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Millersburg during the period has been just -0.74%, which is lower than 70% of US communities.

Over the last year, Millersburg appreciation rates have trailed the rest of the nation. In the last twelve months, Millersburg's appreciation rate has been 3.78%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Millersburg were at 1.15%, which equates to an annual appreciation rate of 4.69%.

Relative to Ohio, our data show that Millersburg's latest annual appreciation rate is lower than 80% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$118,972

Millersburg, OH HOME PRICES

Value Range
> $1,099,000 0.0
$825,001 - $1,099,000 0.0
$550,001 - $825,000 0.0
$440,001 - $550,000 4.1
$329,001 - $440,000 0.4
$220,001 - $329,000 12.8
$110,001 - $220,000 37.7
$55,001 - $110,000 28.5
$0 - $55,000 16.3

Low for OH
Low for Nation

Value Relative to Nation Value Relative to State
66.9496984247819 66.010498687664

Number Of Homes And Apartments:
1,230

Rent & Ownership

 

Average Market Rent:
$656 / per month

Homeownership Rate

Homeownership
Owners 51.96
Renters 48.04
Vacant 13.56

Housing Market Details

 

Age of Homes

AGE OF Millersburg HOMES
2000 or Newer 5.9
1970 - 1999 30.3
1940 - 1969 32.5
1939 or Older 31.3

Types of Homes

TYPE OF Millersburg HOMES
Single-Family 61.2
Townhomes 2.5
Small Apt. Buildings 17.3
Apt. Complexes 9.2
Mobile Homes 9.8
Other 0.0

Home Size

SIZE OF Millersburg HOMES
No Bedroom 0.63
1 Bedroom 12.23
2 Bedrooms 41.11
3 Bedrooms 29.52
4 Bedrooms 13.49
5 or more bedrooms 3.02

Millersburg 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
9.65% 0.54% 4 1
* 10 is highest

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Zip Codes in Millersburg, OH