North Olmsted, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating North Olmsted Neighborhoods Since 2000




North Olmsted, 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

North Olmsted Housing Market Information

With a population of 32,004, 13,175 total housing units (homes and apartments), and a median house value of $153,237, North Olmsted 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 North Olmsted, accounting for 68.92% of the city's housing units. Other types of housing that are prevalent in North Olmsted include large apartment complexes or high rise apartments ( 23.47%), row houses and other attached homes ( 5.69%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.87%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in North Olmsted. Owner-occupied housing accounts for 74.14% of North Olmsted's homes, and 62.62% 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. North Olmsted's housing was primarily built during this period, from the '40s through the '60s. A full 56.92% of the city's housing hails from this era. Other housing ages represented in North Olmsted include homes built between 1970-1999 ( 33.96%) and housing constructed before 1939 ( 5.37%). There's also some housing in North Olmsted built between 2000 and later ( 3.76%).

North Olmsted Home Appreciation Rates

North Olmsted's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in North Olmsted during the period has been just -0.82%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, North Olmsted's appreciation rate, at 3.60%, has been at or slightly above the national average. In the latest quarter, North Olmsted's appreciation rate has been -0.21%, which annualizes to a rate of -0.82%.

Relative to Ohio, our data show that North Olmsted's latest annual appreciation rate is higher than 60% of the other cities and towns in Ohio.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within North Olmsted differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in North Olmsted - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best North Olmsted real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$153,237

North Olmsted, OH HOME PRICES

Value Range
> $1,121,000 0.3
$841,001 - $1,121,000 0.0
$561,001 - $841,000 0.0
$449,001 - $561,000 0.4
$336,001 - $449,000 0.6
$224,001 - $336,000 7.2
$112,001 - $224,000 74.4
$56,001 - $112,000 12.3
$0 - $56,000 4.7

High for OH
Average for Nation

Value Relative to Nation Value Relative to State
48.6581507090121 35.3018372703412

Number Of Homes And Apartments:
13,175

North Olmsted 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
-0.04% 0.00% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,069 / per month

Homeownership Rate

Homeownership
Owners 74.14
Renters 25.86
Vacant 7.18

Housing Market Details

 

Age of Homes

AGE OF North Olmsted HOMES
2000 or Newer 3.8
1970 - 1999 34.0
1940 - 1969 56.9
1939 or Older 5.4

Types of Homes

TYPE OF North Olmsted HOMES
Single-Family 68.9
Townhomes 5.7
Small Apt. Buildings 1.9
Apt. Complexes 23.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF North Olmsted HOMES
No Bedroom 0.74
1 Bedroom 8.02
2 Bedrooms 25.94
3 Bedrooms 39.35
4 Bedrooms 23.26
5 or more bedrooms 2.68