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 Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

North Ridgeville Housing Market Information

With 33,436 people, 12,381 houses or apartments, and a median cost of homes of $173,998, 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 85.15% of the city's housing units. Other types of housing that are prevalent in North Ridgeville include row houses and other attached homes ( 6.83%), large apartment complexes or high rise apartments ( 4.70%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.28%).

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 84.89% of North Ridgeville's homes, and 77.62% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in North Ridgeville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in North Ridgeville built between 2000 and later ( 37.47%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.02%). There's also some housing in North Ridgeville built before 1939 ( 4.87%).

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 16.20%, which ranks in the top 50% nationwide. This equates to an annual average North Ridgeville house appreciation rate of 1.51%.

NeighborhoodScout's data show that during the latest twelve months, North Ridgeville's appreciation rate, at 3.49%, has been at or slightly above the national average. In the latest quarter, North Ridgeville's appreciation rate has been 2.50%, which annualizes to a rate of 10.38%.

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 50% 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:
$173,998

North Ridgeville, OH HOME PRICES

Value Range
> $1,174,000 0.0
$880,001 - $1,174,000 0.1
$587,001 - $880,000 0.0
$469,001 - $587,000 0.4
$352,001 - $469,000 2.8
$235,001 - $352,000 25.4
$117,001 - $235,000 57.1
$59,001 - $117,000 9.8
$0 - $59,000 4.3

High for OH
Average for Nation

Value Relative to Nation Value Relative to State
47.2583941605839 33.0708661417323

Number Of Homes And Apartments:
12,381

North Ridgeville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
15.83% 0.76%
4
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,680 / per month

Homeownership Rate

Homeownership
Owners 84.89
Renters 15.11
Vacant 4.57

Housing Market Details

 

Age of Homes

AGE OF North Ridgeville HOMES
2000 or Newer 37.5
1970 - 1999 37.6
1940 - 1969 20.0
1939 or Older 4.9

Types of Homes

TYPE OF North Ridgeville HOMES
Single-Family 85.2
Townhomes 6.8
Small Apt. Buildings 2.3
Apt. Complexes 4.7
Mobile Homes 1.0
Other 0.0

Home Size

SIZE OF North Ridgeville HOMES
No Bedroom 0.72
1 Bedroom 2.20
2 Bedrooms 17.43
3 Bedrooms 54.37
4 Bedrooms 23.25
5 or more bedrooms 2.03