Norton, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Norton Neighborhoods Since 2000




Norton, 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

Norton Housing Market Information

With 12,032 people, 4,624 houses or apartments, and a median cost of homes of $142,009, Norton 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 Norton, accounting for 90.45% of the city's housing units. Other types of housing that are prevalent in Norton include large apartment complexes or high rise apartments ( 3.85%), duplexes, homes converted to apartments or other small apartment buildings ( 2.63%), and a few mobile homes or trailers ( 1.81%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Norton. Owner-occupied housing accounts for 85.89% of Norton's homes, and 69.72% 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. Norton's housing was primarily built during this period, from the '40s through the '60s. A full 55.26% of the city's housing hails from this era. Other housing ages represented in Norton include homes built between 1970-1999 ( 22.47%) and housing constructed before 1939 ( 11.48%). There's also some housing in Norton built between 2000 and later ( 10.79%).

Norton Home Appreciation Rates

Norton's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Norton during the period has been just -1.39%, which is lower than 80% of US communities.

Over the last year, Norton appreciation rates have trailed the rest of the nation. In the last twelve months, Norton's appreciation rate has been 3.03%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Norton were at 0.80%, which equates to an annual appreciation rate of 3.24%.

Relative to Ohio, our data show that Norton's latest annual appreciation rate is higher than 50% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$142,009

Norton, OH HOME PRICES

Value Range
> $1,080,000 0.0
$810,001 - $1,080,000 0.0
$540,001 - $810,000 0.0
$432,001 - $540,000 0.2
$324,001 - $432,000 1.4
$216,001 - $324,000 12.2
$108,001 - $216,000 62.2
$54,001 - $108,000 19.8
$0 - $54,000 4.1

Average for OH
Average for Nation

Value Relative to Nation Value Relative to State
53.8263213406774 43.4383202099738

Number Of Homes And Apartments:
4,624

Norton 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
-4.92% -0.29% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,066 / per month

Homeownership Rate

Homeownership
Owners 85.89
Renters 14.11
Vacant 7.22

Housing Market Details

 

Age of Homes

AGE OF Norton HOMES
2000 or Newer 10.8
1970 - 1999 22.5
1940 - 1969 55.3
1939 or Older 11.5

Types of Homes

TYPE OF Norton HOMES
Single-Family 90.4
Townhomes 1.3
Small Apt. Buildings 2.6
Apt. Complexes 3.9
Mobile Homes 1.8
Other 0.0

Home Size

SIZE OF Norton HOMES
No Bedroom 0.60
1 Bedroom 3.27
2 Bedrooms 24.06
3 Bedrooms 52.15
4 Bedrooms 17.58
5 or more bedrooms 2.35