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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 8,828, 3,939 total housing units (homes and apartments), and a median house value of $161,281, house prices in Olmsted Falls are solidly below the national average.
Single-family detached homes are the single most common housing type in Olmsted Falls, accounting for 67.56% of the city's housing units. Other types of housing that are prevalent in Olmsted Falls include large apartment complexes or high rise apartments ( 15.30%), row houses and other attached homes ( 14.56%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.58%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Olmsted Falls. Owner-occupied housing accounts for 84.54% of Olmsted Falls's homes, and 61.59% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Olmsted Falls 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 Olmsted Falls built between 2000 and later ( 21.05%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.63%). There's also some housing in Olmsted Falls built before 1939 ( 9.38%).
Real estate appreciation rates in Olmsted Falls's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.44% during the period.
NeighborhoodScout's data show that during the latest twelve months, Olmsted Falls's appreciation rate, at 4.65%, has been at or slightly above the national average. In the latest quarter, Olmsted Falls's appreciation rate has been 1.98%, which annualizes to a rate of 8.17%.
Importantly, this makes Olmsted Falls 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 Olmsted Falls'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 Olmsted Falls differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Olmsted Falls - 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 Olmsted Falls real estate investment or home purchase decisions.
|$900,001 - $1,200,000||0.0|
|$600,001 - $900,000||0.0|
|$480,001 - $600,000||0.4|
|$360,001 - $480,000||4.2|
|$240,001 - $360,000||18.2|
|$120,001 - $240,000||59.5|
|$60,001 - $120,000||15.1|
|$0 - $60,000||2.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2020 Q3
|* 10 is highest|
|AGE OF Olmsted Falls HOMES|
|2000 or Newer||21.1|
|1970 - 1999||48.9|
|1940 - 1969||20.6|
|1939 or Older||9.4|
|TYPE OF Olmsted Falls HOMES|
|Small Apt. Buildings||2.6|
|SIZE OF Olmsted Falls HOMES|
|5 or more bedrooms||2.44|