Minerva, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Minerva, 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

Minerva Housing Market Information

With 3,676 people, 1,542 houses or apartments, and a median cost of homes of $129,449, house prices in Minerva are solidly below the national average.

Single-family detached homes are the single most common housing type in Minerva, accounting for 65.87% of the village's housing units. Other types of housing that are prevalent in Minerva include duplexes, homes converted to apartments or other small apartment buildings ( 17.01%), mobile homes or trailers ( 8.70%), and a few large apartment complexes or high rise apartments ( 7.25%).

The most prevalent building size and type in Minerva are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 62.08% owning and 37.92% renting.

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. Minerva's housing was primarily built during this period, from the '40s through the '60s. A full 42.22% of the village's housing hails from this era. Other housing ages represented in Minerva include homes built before 1939 ( 30.12%) and housing constructed between 1970-1999 ( 27.66%).

Vacant housing appears to be an issue in Minerva. Fully 14.00% of the housing stock is classified as vacant. Left unchecked, vacant Minerva homes and apartments can be a drag on the real estate market, holding Minerva 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.

Minerva Home Appreciation Rates

Real estate appreciation rates in Minerva's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.50% during the period.

Over the last year, Minerva appreciation rates have trailed the rest of the nation. In the last twelve months, Minerva's appreciation rate has been 1.59%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Minerva were at 0.94%, which equates to an annual appreciation rate of 3.83%.

Relative to Ohio, our data show that Minerva's latest annual appreciation rate is lower than 60% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$129,449

Minerva, OH HOME PRICES

Value Range
> $1,084,000 0.0
$812,001 - $1,084,000 0.0
$542,001 - $812,000 0.0
$433,001 - $542,000 1.9
$325,001 - $433,000 2.0
$217,001 - $325,000 6.4
$108,001 - $217,000 39.7
$54,001 - $108,000 38.9
$0 - $54,000 11.1

Average for OH
Low for Nation

Value Relative to Nation Value Relative to State
60.1898511660612 54.3307086614173

Number Of Homes And Apartments:
1,542

Minerva 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
4.17% 0.24% 4 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$934 / per month

Homeownership Rate

Homeownership
Owners 62.08
Renters 37.92
Vacant 14.00

Housing Market Details

 

Age of Homes

AGE OF Minerva HOMES
2000 or Newer 0.0
1970 - 1999 27.7
1940 - 1969 42.2
1939 or Older 30.1

Types of Homes

TYPE OF Minerva HOMES
Single-Family 65.9
Townhomes 1.2
Small Apt. Buildings 17.0
Apt. Complexes 7.3
Mobile Homes 8.7
Other 0.0

Home Size

SIZE OF Minerva HOMES
No Bedroom 0.39
1 Bedroom 11.71
2 Bedrooms 25.82
3 Bedrooms 50.14
4 Bedrooms 8.87
5 or more bedrooms 3.07