Minerva, OH Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Minerva, OH Housing Market Trends

With 3,620 people, 1,517 houses or apartments, and a median cost of homes of $169,812, 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 67.34% 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 ( 20.23%), mobile homes or trailers ( 6.48%), and a few large apartment complexes or high rise apartments ( 4.94%).

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 60.47% owning and 39.53% 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 38.55% of the village's housing hails from this era. Other housing ages represented in Minerva include homes built between 1970-1999 ( 31.35%) and housing constructed before 1939 ( 25.22%). There's also some housing in Minerva built between 2000 and later ( 4.88%).

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 3.44% 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 8.07%, 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 1.86%, which equates to an annual appreciation rate of 7.63%.

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 80% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$169,812

Minerva, OH HOME PRICES

> $1,274,000
0.0%
0.0%
$956,001 - $1,274,000
0.0%
0.0%
$637,001 - $956,000
0.0%
0.0%
$510,001 - $637,000
2.0%
2.0%
$383,001 - $510,000
3.6%
3.6%
$255,001 - $383,000
7.9%
7.9%
$127,001 - $255,000
42.6%
42.6%
$64,001 - $127,000
32.7%
32.7%
$0 - $64,000
11.2%
11.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Average for OH

Value Relative To Nation

Number Of Homes And Apartments:
1,517

Minerva Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
31.65% 1.29%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$878 / per month

Homeownership Rate

Owners
60.5%
60.5%
Renters
39.5%
39.5%
Vacant
9.8%
9.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.9%
4.9%
1970 - 1999
31.4%
31.4%
1940 - 1969
38.5%
38.5%
1939 or Older
25.2%
25.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
67.3%
67.3%
Townhomes
1.0%
1.0%
Small Apt. Buildings
20.2%
20.2%
Apt. Complexes
4.9%
4.9%
Mobile Homes
6.5%
6.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.6%
0.6%
1 Bedroom
6.7%
6.7%
2 Bedrooms
37.7%
37.7%
3 Bedrooms
47.5%
47.5%
4 Bedrooms
6.4%
6.4%
5 or more bedrooms
1.0%
1.0%
0.0% 100.0%
% OF HOMES