North Ridgeville OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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North Ridgeville, 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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

North Ridgeville Housing Market Information

With a population of 34,392, 12,572 total housing units (homes and apartments), and a median house value of $176,396, North Ridgeville 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 Ridgeville, accounting for 84.64% of the city's housing units. Other types of housing that are prevalent in North Ridgeville include row houses and other attached homes ( 6.63%), large apartment complexes or high rise apartments ( 4.76%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.86%).

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 Ridgeville. Owner-occupied housing accounts for 85.83% of North Ridgeville's homes, and 77.65% have either three or four bedrooms, which is average sized relative to America.

North Ridgeville homes and real estate are some of the newest in America. 39.78% of North Ridgeville's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the North Ridgeville real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 37.08%), and between 1940-1969 ( 18.88%). There's also some housing in North Ridgeville built before 1939 ( 4.25%).

North Ridgeville Home Appreciation Rates

Appreciation rates for homes in North Ridgeville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 29.52%, which ranks in the top 50% nationwide. This equates to an annual average North Ridgeville house appreciation rate of 2.62%.

Appreciation rates are so strong in North Ridgeville that despite a nationwide downturn in the housing market, North Ridgeville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, North Ridgeville appreciation rates continue to be some of the highest in America, at 5.26%, which is higher than appreciation rates in 76.66% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in North Ridgeville. North Ridgeville appreciation rates in the latest quarter were at 2.00%, which equates to an annual appreciation rate of 8.26%.

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

Relative to Ohio, our data show that North Ridgeville's latest annual appreciation rate is higher than 80% 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 Ridgeville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in North Ridgeville - 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 Ridgeville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$176,396

North Ridgeville, OH HOME PRICES

Value Range
> $1,193,000 0.0
$895,001 - $1,193,000 0.1
$597,001 - $895,000 0.5
$478,001 - $597,000 0.3
$358,001 - $478,000 3.4
$239,001 - $358,000 27.9
$119,001 - $239,000 55.0
$60,001 - $119,000 9.4
$0 - $60,000 3.4

High for OH
Average for Nation

Value Relative to Nation Value Relative to State
50.4 38.4514435695538

Number Of Homes And Apartments:
12,572

North Ridgeville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
24.45% 1.06%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,754 / per month

Homeownership Rate

Homeownership
Owners 85.83
Renters 14.17
Vacant 3.83

Housing Market Details

 

Age of Homes

AGE OF North Ridgeville HOMES
2000 or Newer 39.8
1970 - 1999 37.1
1940 - 1969 18.9
1939 or Older 4.3

Types of Homes

TYPE OF North Ridgeville HOMES
Single-Family 84.6
Townhomes 6.6
Small Apt. Buildings 2.9
Apt. Complexes 4.8
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF North Ridgeville HOMES
No Bedroom 0.59
1 Bedroom 1.92
2 Bedrooms 18.24
3 Bedrooms 51.23
4 Bedrooms 26.42
5 or more bedrooms 1.61