New Richmond, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating New Richmond Neighborhoods Since 2000




New Richmond, 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 Richmond Housing Market Information

With a population of 2,642, 967 total housing units (homes and apartments), and a median house value of $141,607, New Richmond 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 Richmond, accounting for 66.18% of the village's housing units. Other types of housing that are prevalent in New Richmond include large apartment complexes or high rise apartments ( 14.77%), duplexes, homes converted to apartments or other small apartment buildings ( 11.44%), and a few mobile homes or trailers ( 5.04%).

The most prevalent building size and type in New Richmond are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 60.18% owning and 39.82% renting.

New Richmond homes and real estate are some of the newest in America. 27.16% of New Richmond'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 Richmond real estate market has to offer. Quite a bit of the housing here was also built between 1940-1969 ( 24.42%), and before 1939 ( 24.34%). There's also some housing in New Richmond built between 1970-1999 ( 24.08%).

Vacant housing appears to be an issue in New Richmond. Fully 17.42% of the housing stock is classified as vacant. Left unchecked, vacant New Richmond homes and apartments can be a drag on the real estate market, holding New Richmond 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.

New Richmond Home Appreciation Rates

Real estate appreciation rates in New Richmond's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.54% during the period.

Appreciation rates are so strong in New Richmond that despite a nationwide downturn in the housing market, New Richmond real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New Richmond appreciation rates continue to be some of the highest in America, at 8.17%, which is higher than appreciation rates in 87.51% 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 Richmond. New Richmond appreciation rates in the latest quarter were at 0.43%, which equates to an annual appreciation rate of 1.74%.

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

Average Home Values

 

Median Home Value:
$141,607

New Richmond, OH HOME PRICES

Value Range
> $1,092,000 1.8
$819,001 - $1,092,000 0.0
$546,001 - $819,000 0.5
$437,001 - $546,000 0.4
$328,001 - $437,000 2.7
$219,001 - $328,000 15.3
$109,001 - $219,000 41.6
$55,001 - $109,000 17.6
$0 - $55,000 20.1

Average for OH
Average for Nation

Value Relative to Nation Value Relative to State
54.0607054963085 43.8320209973753

Number Of Homes And Apartments:
967

New Richmond 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
10.43% 0.58% 5 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$789 / per month

Homeownership Rate

Homeownership
Owners 60.18
Renters 39.82
Vacant 17.42

Housing Market Details

 

Age of Homes

AGE OF New Richmond HOMES
2000 or Newer 27.2
1970 - 1999 24.1
1940 - 1969 24.4
1939 or Older 24.3

Types of Homes

TYPE OF New Richmond HOMES
Single-Family 66.2
Townhomes 2.6
Small Apt. Buildings 11.4
Apt. Complexes 14.8
Mobile Homes 5.0
Other 0.0

Home Size

SIZE OF New Richmond HOMES
No Bedroom 5.72
1 Bedroom 8.11
2 Bedrooms 30.23
3 Bedrooms 43.13
4 Bedrooms 12.04
5 or more bedrooms 0.77

Popular Neighborhoods in New Richmond

Zip Codes in New Richmond, OH