Mineral Ridge, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Mineral Ridge, 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

Mineral Ridge Housing Market Information

With 3,847 people, 1,401 houses or apartments, and a median cost of homes of $107,709, house prices in Mineral Ridge are solidly below the national average.

Single-family detached homes are the single most common housing type in Mineral Ridge, accounting for 81.27% of the town's housing units. Other types of housing that are prevalent in Mineral Ridge include large apartment complexes or high rise apartments ( 9.70%), duplexes, homes converted to apartments or other small apartment buildings ( 6.12%), and a few mobile homes or trailers ( 1.98%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mineral Ridge. Owner-occupied housing accounts for 65.69% of Mineral Ridge's homes, and 72.81% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Mineral Ridge 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 Mineral Ridge built between 1940-1969 ( 26.45%). A lesser amount of the housing stock also hails from before 1939 ( 18.85%). There's also some housing in Mineral Ridge built between 2000 and later ( 8.90%).

Vacant housing appears to be an issue in Mineral Ridge. Fully 13.41% of the housing stock is classified as vacant. Left unchecked, vacant Mineral Ridge homes and apartments can be a drag on the real estate market, holding Mineral Ridge 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.

Mineral Ridge Home Appreciation Rates

Real estate appreciation rates in Mineral Ridge's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.71% during the period.

Over the last year, Mineral Ridge appreciation rates have trailed the rest of the nation. In the last twelve months, Mineral Ridge's appreciation rate has been 2.78%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mineral Ridge were at 2.15%, which equates to an annual appreciation rate of 8.89%.

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

Relative to Ohio, our data show that Mineral Ridge's latest annual appreciation rate is lower than 50% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$107,709

Mineral Ridge, OH HOME PRICES

Value Range
> $1,070,000 0.5
$802,001 - $1,070,000 0.0
$535,001 - $802,000 0.0
$428,001 - $535,000 0.6
$321,001 - $428,000 1.1
$214,001 - $321,000 7.6
$107,001 - $214,000 37.3
$54,001 - $107,000 37.1
$0 - $54,000 16.0

Low for OH
Low for Nation

Value Relative to Nation Value Relative to State
72.7411227001055 72.9658792650919

Number Of Homes And Apartments:
1,401

Mineral Ridge 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
-0.44% -0.03% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$832 / per month

Homeownership Rate

Homeownership
Owners 65.69
Renters 34.31
Vacant 13.41

Housing Market Details

 

Age of Homes

AGE OF Mineral Ridge HOMES
2000 or Newer 8.9
1970 - 1999 45.8
1940 - 1969 26.5
1939 or Older 18.9

Types of Homes

TYPE OF Mineral Ridge HOMES
Single-Family 81.3
Townhomes 0.9
Small Apt. Buildings 6.1
Apt. Complexes 9.7
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF Mineral Ridge HOMES
No Bedroom 2.35
1 Bedroom 7.73
2 Bedrooms 16.19
3 Bedrooms 63.91
4 Bedrooms 8.90
5 or more bedrooms 0.93

Popular Neighborhoods in Mineral Ridge

Zip Codes in Mineral Ridge, OH