Olmsted Falls, OH Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Olmsted Falls, OH Housing Market Trends

With 8,828 people, 3,888 houses or apartments, and a median cost of homes of $160,578, 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 65.47% of the city's housing units. Other types of housing that are prevalent in Olmsted Falls include large apartment complexes or high rise apartments ( 15.62%), row houses and other attached homes ( 15.50%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.41%).

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 83.75% of Olmsted Falls's homes, and 62.56% 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 1940-1969 ( 20.63%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.60%). There's also some housing in Olmsted Falls built before 1939 ( 9.87%).

Olmsted Falls Home Appreciation Rates

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 2.68% during the period.

Appreciation rates are so strong in Olmsted Falls that despite a nationwide downturn in the housing market, Olmsted Falls real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Olmsted Falls appreciation rates continue to be some of the highest in America, at 7.00%, which is higher than appreciation rates in 86.91% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Olmsted Falls. Olmsted Falls appreciation rates in the latest quarter were at 3.02%, which equates to an annual appreciation rate of 12.65%.

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 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 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.

Average Home Values

 

Median Home Value:
$160,578

Olmsted Falls, OH HOME PRICES

> $1,163,000
0.1%
0.1%
$872,001 - $1,163,000
0.0%
0.0%
$581,001 - $872,000
0.0%
0.0%
$465,001 - $581,000
0.5%
0.5%
$349,001 - $465,000
4.6%
4.6%
$232,001 - $349,000
21.5%
21.5%
$116,001 - $232,000
55.2%
55.2%
$58,001 - $116,000
17.1%
17.1%
$0 - $58,000
1.0%
1.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Average for OH

Value Relative To Nation

Number Of Homes And Apartments:
3,888

Olmsted Falls Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
24.05% 1.03%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,110 / per month

Homeownership Rate

Owners
83.7%
83.7%
Renters
16.3%
16.3%
Vacant
4.0%
4.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
17.6%
17.6%
1970 - 1999
51.9%
51.9%
1940 - 1969
20.6%
20.6%
1939 or Older
9.9%
9.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
65.5%
65.5%
Townhomes
15.5%
15.5%
Small Apt. Buildings
3.4%
3.4%
Apt. Complexes
15.6%
15.6%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.1%
1.1%
1 Bedroom
9.1%
9.1%
2 Bedrooms
23.0%
23.0%
3 Bedrooms
40.7%
40.7%
4 Bedrooms
21.9%
21.9%
5 or more bedrooms
4.2%
4.2%
0.0% 100.0%
% OF HOMES