Painesville, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Painesville Neighborhoods Since 2000




Painesville, 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

Painesville Housing Market Information

With a population of 19,776, 7,389 total housing units (homes and apartments), and a median house value of $107,909, house prices in Painesville are solidly below the national average.

Single-family detached homes are the single most common housing type in Painesville, accounting for 59.62% of the city's housing units. Other types of housing that are prevalent in Painesville include large apartment complexes or high rise apartments ( 23.46%), duplexes, homes converted to apartments or other small apartment buildings ( 13.58%), and a few row houses and other attached homes ( 3.10%).

The most prevalent building size and type in Painesville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 45.46% owning and 54.54% renting.

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. Painesville's housing was primarily built during this period, from the '40s through the '60s. A full 35.33% of the city's housing hails from this era. Other housing ages represented in Painesville include homes built between 1970-1999 ( 24.69%) and housing constructed before 1939 ( 24.41%). There's also some housing in Painesville built between 2000 and later ( 15.57%).

Painesville Home Appreciation Rates

Homes have actually lost value in Painesville over the last then years, as home values have seen a decline of 20.92% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Painesville home appreciation rates at -0.21%, which equates to an annual appreciation rate of -0.82%.

Over the last year, Painesville appreciation rates have trailed the rest of the nation. In the last twelve months, Painesville's appreciation rate has been 1.63%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Painesville were at -0.21%, which equates to an annual appreciation rate of -0.82%.

Relative to Ohio, our data show that Painesville's latest annual appreciation rate is lower 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 Painesville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Painesville - 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 Painesville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$107,909

Painesville, OH HOME PRICES

Value Range
> $1,038,000 0.0
$779,001 - $1,038,000 0.2
$519,001 - $779,000 0.0
$415,001 - $519,000 0.0
$311,001 - $415,000 0.4
$208,001 - $311,000 8.1
$104,001 - $208,000 41.9
$52,001 - $104,000 41.1
$0 - $52,000 8.2

Low for OH
Low for Nation

Value Relative to Nation Value Relative to State
72.6180710183991 72.5721784776903

Number Of Homes And Apartments:
7,389

Painesville 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
-7.64% -0.46% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$817 / per month

Homeownership Rate

Homeownership
Owners 45.46
Renters 54.54
Vacant 9.82

Housing Market Details

 

Age of Homes

AGE OF Painesville HOMES
2000 or Newer 15.6
1970 - 1999 24.7
1940 - 1969 35.3
1939 or Older 24.4

Types of Homes

TYPE OF Painesville HOMES
Single-Family 59.6
Townhomes 3.1
Small Apt. Buildings 13.6
Apt. Complexes 23.5
Mobile Homes 0.0
Other 0.2

Home Size

SIZE OF Painesville HOMES
No Bedroom 1.55
1 Bedroom 15.57
2 Bedrooms 29.95
3 Bedrooms 37.03
4 Bedrooms 14.60
5 or more bedrooms 1.31