Minerva, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Minerva Neighborhoods Since 2000




Minerva, OH Real Estate Data


Minerva Housing Market Information

With a population of 3,676, 1,499 total housing units (homes and apartments), and a median house value of $113,360, 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 67.89% 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 ( 16.62%), mobile homes or trailers ( 9.42%), and a few large apartment complexes or high rise apartments ( 4.71%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Minerva. Owner-occupied housing accounts for 67.96% of Minerva's homes, and 58.04% have either three or four bedrooms, which is average sized relative to America.

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 36.87% of the village's housing hails from this era. Other housing ages represented in Minerva include homes built before 1939 ( 34.27%) and housing constructed between 1970-1999 ( 27.83%). There's also some housing in Minerva built between 2000 and later ( 1.03%).

Vacant housing appears to be an issue in Minerva. Fully 18.84% 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 0.18% during the period.

NeighborhoodScout's data show that during the latest twelve months, Minerva's appreciation rate, at 5.03%, has been at or slightly above the national average. In the latest quarter, Minerva's appreciation rate has been 0.79%, which annualizes to a rate of 3.21%.

Notably, Minerva's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$113,360

Minerva, OH HOME PRICES

Value Range
> $1,115,000 0.0
$837,001 - $1,115,000 0.0
$558,001 - $837,000 0.0
$446,001 - $558,000 0.9
$335,001 - $446,000 2.3
$223,001 - $335,000 5.0
$112,001 - $223,000 39.2
$57,001 - $112,000 37.1
$0 - $57,000 15.5

Low for OH
Low for Nation

Value Relative to Nation Value Relative to State
70.2406745915559 72.0472440944882

Number Of Homes And Apartments:
1,499

Rent & Ownership

 

Average Market Rent:
$705 / per month

Homeownership Rate

Homeownership
Owners 67.96
Renters 32.04
Vacant 18.84

Housing Market Details

 

Age of Homes

AGE OF Minerva HOMES
2000 or Newer 1.0
1970 - 1999 27.8
1940 - 1969 36.9
1939 or Older 34.3

Types of Homes

TYPE OF Minerva HOMES
Single-Family 67.9
Townhomes 1.4
Small Apt. Buildings 16.6
Apt. Complexes 4.7
Mobile Homes 9.4
Other 0.0

Home Size

SIZE OF Minerva HOMES
No Bedroom 0.00
1 Bedroom 11.64
2 Bedrooms 26.26
3 Bedrooms 47.32
4 Bedrooms 10.72
5 or more bedrooms 4.06

Minerva 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
12.10% 0.67% 5 1
* 10 is highest