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 Q2 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

North Royalton Housing Market Information

With 30,239 people, 12,657 houses or apartments, and a median cost of homes of $246,753, 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 64.30% of the city's housing units. Other types of housing that are prevalent in North Royalton include large apartment complexes or high rise apartments ( 27.03%), row houses and other attached homes ( 6.33%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.31%).

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 72.14% of North Royalton's homes, and 59.45% 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 ( 23.66%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.71%). There's also some housing in North Royalton built before 1939 ( 4.15%).

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 2.16% during the period.

Over the last year, North Royalton appreciation rates have trailed the rest of the nation. In the last twelve months, North Royalton's appreciation rate has been 3.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in North Royalton were at 0.90%, which equates to an annual appreciation rate of 3.66%.

Relative to Ohio, our data show that North Royalton's latest annual appreciation rate is lower 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 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:
$246,753

North Royalton, OH HOME PRICES

Value Range
> $1,177,000 0.0
$882,001 - $1,177,000 0.1
$588,001 - $882,000 2.8
$471,001 - $588,000 4.2
$353,001 - $471,000 10.7
$235,001 - $353,000 32.0
$118,001 - $235,000 37.8
$59,001 - $118,000 8.3
$0 - $59,000 4.1

Very High for OH
High for Nation

Value Relative to Nation Value Relative to State
29.8335766423358 13.6482939632546

Number Of Homes And Apartments:
12,657

North Royalton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
22.49% 0.99%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,070 / per month

Homeownership Rate

Homeownership
Owners 72.14
Renters 27.86
Vacant 4.34

Housing Market Details

 

Age of Homes

AGE OF North Royalton HOMES
2000 or Newer 15.7
1970 - 1999 56.5
1940 - 1969 23.7
1939 or Older 4.1

Types of Homes

TYPE OF North Royalton HOMES
Single-Family 64.3
Townhomes 6.3
Small Apt. Buildings 2.3
Apt. Complexes 27.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF North Royalton HOMES
No Bedroom 1.07
1 Bedroom 10.67
2 Bedrooms 25.00
3 Bedrooms 30.66
4 Bedrooms 28.80
5 or more bedrooms 3.81