New Franklin, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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New Franklin, 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

New Franklin Housing Market Information

With a population of 14,275, 5,571 total housing units (homes and apartments), and a median house value of $144,671, New Franklin real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in New Franklin, accounting for 90.37% of the city's housing units. Other types of housing that are prevalent in New Franklin include duplexes, homes converted to apartments or other small apartment buildings ( 5.45%), mobile homes or trailers ( 1.53%), and a few large apartment complexes or high rise apartments ( 1.48%).

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 Franklin. Owner-occupied housing accounts for 89.26% of New Franklin's homes, and 71.93% 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. New Franklin's housing was primarily built during this period, from the '40s through the '60s. A full 50.52% of the city's housing hails from this era. Other housing ages represented in New Franklin include homes built between 1970-1999 ( 32.02%) and housing constructed before 1939 ( 12.52%). There's also some housing in New Franklin built between 2000 and later ( 4.94%).

New Franklin Home Appreciation Rates

Real estate appreciation rates in New Franklin's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.77% during the period.

Over the last year, New Franklin appreciation rates have trailed the rest of the nation. In the last twelve months, New Franklin's appreciation rate has been 2.43%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Franklin were at 0.81%, which equates to an annual appreciation rate of 3.28%.

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

Average Home Values

 

Median Home Value:
$144,671

New Franklin, OH HOME PRICES

Value Range
> $1,094,000 0.3
$820,001 - $1,094,000 0.0
$547,001 - $820,000 2.0
$438,001 - $547,000 1.2
$328,001 - $438,000 3.7
$219,001 - $328,000 12.6
$109,001 - $219,000 57.5
$55,001 - $109,000 18.3
$0 - $55,000 4.3

Average for OH
Average for Nation

Value Relative to Nation Value Relative to State
52.3614203679831 41.3385826771654

Number Of Homes And Apartments:
5,571

New Franklin 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
2.70% 0.15% 3 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$990 / per month

Homeownership Rate

Homeownership
Owners 89.26
Renters 10.74
Vacant 9.18

Housing Market Details

 

Age of Homes

AGE OF New Franklin HOMES
2000 or Newer 4.9
1970 - 1999 32.0
1940 - 1969 50.5
1939 or Older 12.5

Types of Homes

TYPE OF New Franklin HOMES
Single-Family 90.4
Townhomes 1.2
Small Apt. Buildings 5.4
Apt. Complexes 1.5
Mobile Homes 1.5
Other 0.0

Home Size

SIZE OF New Franklin HOMES
No Bedroom 0.00
1 Bedroom 2.35
2 Bedrooms 23.83
3 Bedrooms 53.60
4 Bedrooms 18.32
5 or more bedrooms 1.89

Popular Neighborhoods in New Franklin

Zip Codes in New Franklin, OH