North Royalton, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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North Royalton, 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 Royalton Housing Market Information

With a population of 30,311, 12,721 total housing units (homes and apartments), and a median house value of $223,880, North Royalton real estate is some of the most expensive in Ohio, although North Royalton home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in North Royalton, accounting for 62.65% of the city's housing units. Other types of housing that are prevalent in North Royalton include large apartment complexes or high rise apartments ( 27.16%), row houses and other attached homes ( 7.37%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.76%).

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 Royalton. Owner-occupied housing accounts for 70.75% of North Royalton's homes, and 60.62% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in North Royalton 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 Royalton built between 1940-1969 ( 20.56%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.40%). There's also some housing in North Royalton built before 1939 ( 5.12%).

North Royalton Home Appreciation Rates

Real estate appreciation rates in North Royalton's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.70% during the period.

NeighborhoodScout's data show that during the latest twelve months, North Royalton's appreciation rate, at 4.05%, has been at or slightly above the national average. In the latest quarter, North Royalton's appreciation rate has been -0.21%, which annualizes to a rate of -0.82%.

Relative to Ohio, our data show that North Royalton'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 Royalton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in North Royalton - 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 Royalton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$223,880

North Royalton, OH HOME PRICES

Value Range
> $1,102,000 0.0
$827,001 - $1,102,000 0.4
$551,001 - $827,000 1.3
$441,001 - $551,000 2.8
$331,001 - $441,000 9.4
$220,001 - $331,000 30.5
$110,001 - $220,000 42.5
$55,001 - $110,000 10.1
$0 - $55,000 3.0

Very High for OH
High for Nation

Value Relative to Nation Value Relative to State
26.983475917028 10.498687664042

Number Of Homes And Apartments:
12,721

North Royalton 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
4.16% 0.24% 4 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$900 / per month

Homeownership Rate

Homeownership
Owners 70.75
Renters 29.25
Vacant 2.89

Housing Market Details

 

Age of Homes

AGE OF North Royalton HOMES
2000 or Newer 13.4
1970 - 1999 60.9
1940 - 1969 20.6
1939 or Older 5.1

Types of Homes

TYPE OF North Royalton HOMES
Single-Family 62.6
Townhomes 7.4
Small Apt. Buildings 2.8
Apt. Complexes 27.2
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF North Royalton HOMES
No Bedroom 0.97
1 Bedroom 11.98
2 Bedrooms 23.53
3 Bedrooms 33.75
4 Bedrooms 26.87
5 or more bedrooms 2.91