New Albany, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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New Albany, OH Real Estate Data


New Albany Housing Market Information

With 9,879 people, 2,594 houses or apartments, and a median cost of homes of $542,674, New Albany house prices are not only among the most expensive in Ohio, New Albany real estate also is some of the most expensive in all of America.

New Albany is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in New Albany than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New Albany. Owner-occupied housing accounts for 93.02% of New Albany's homes, and 68.50% have either three or four bedrooms, which is average sized relative to America.

New Albany homes and real estate are some of the newest in America. 59.36% of New Albany's housing was built since 2000, making the village have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the New Albany real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 35.44%), and between 1940-1969 ( 4.26%).

New Albany Home Appreciation Rates

In the last 10 years, New Albany has experienced some of the highest home appreciation rates of any community in the nation. New Albany real estate appreciated 28.85% over the last ten years, which is an average annual home appreciation rate of 2.57%, putting New Albany in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, New Albany definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in New Albany that despite a nationwide downturn in the housing market, New Albany real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New Albany appreciation rates continue to be some of the highest in America, at 6.91%, which is higher than appreciation rates in 83.85% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in New Albany. New Albany appreciation rates in the latest quarter were at 2.81%, which equates to an annual appreciation rate of 11.73%.

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

Relative to Ohio, our data show that New Albany's latest annual appreciation rate is higher than 90% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$542,674

New Albany, OH HOME PRICES

Value Range
> $1,261,000 4.7
$946,001 - $1,261,000 5.7
$631,001 - $946,000 21.1
$504,001 - $631,000 14.1
$378,001 - $504,000 23.0
$253,001 - $378,000 20.6
$126,001 - $253,000 8.7
$63,001 - $126,000 0.9
$0 - $63,000 1.1

Very High for OH
Very High for Nation

Value Relative to Nation Value Relative to State
5.12970662294314 0.26246719160105

Number Of Homes And Apartments:
2,594

Rent & Ownership

 

Average Market Rent:
$1,554 / per month

Homeownership Rate

Homeownership
Owners 93.02
Renters 6.98
Vacant 6.29

Housing Market Details

 

Age of Homes

AGE OF New Albany HOMES
2000 or Newer 59.4
1970 - 1999 35.4
1940 - 1969 4.3
1939 or Older 0.9

Types of Homes

TYPE OF New Albany HOMES
Single-Family 92.1
Townhomes 4.0
Small Apt. Buildings 0.0
Apt. Complexes 4.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF New Albany HOMES
No Bedroom 0.00
1 Bedroom 0.43
2 Bedrooms 11.27
3 Bedrooms 22.00
4 Bedrooms 46.50
5 or more bedrooms 19.80

New Albany 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
48.33% 2.35% 10 6
* 10 is highest

Popular Neighborhoods in New Albany

Zip Codes in New Albany, OH