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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Mineral Ridge HOMES|
|2000 or Newer||8.9|
|1970 - 1999||45.8|
|1940 - 1969||26.5|
|1939 or Older||18.9|
|TYPE OF Mineral Ridge HOMES|
|Small Apt. Buildings||6.1|
|SIZE OF Mineral Ridge HOMES|
|5 or more bedrooms||0.93|