Pepper Pike, 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

Pepper Pike, OH Housing Market Trends

With 6,330 people, 2,228 houses or apartments, and a median cost of homes of $498,431, Pepper Pike house prices are not only among the most expensive in Ohio, Pepper Pike real estate also is some of the most expensive in all of America.

Pepper Pike is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Pepper Pike than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Pepper Pike. Owner-occupied housing accounts for 93.08% of Pepper Pike's homes, and 72.08% 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. Pepper Pike's housing was primarily built during this period, from the '40s through the '60s. A full 53.75% of the city's housing hails from this era. Other housing ages represented in Pepper Pike include homes built between 1970-1999 ( 32.78%) and housing constructed between 2000 and later ( 10.13%). There's also some housing in Pepper Pike built before 1939 ( 3.35%).

Pepper Pike Home Appreciation Rates

Appreciation rates for homes in Pepper Pike have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 33.05%, which ranks in the top 50% nationwide. This equates to an annual average Pepper Pike house appreciation rate of 2.90%.

Appreciation rates are so strong in Pepper Pike that despite a nationwide downturn in the housing market, Pepper Pike real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Pepper Pike appreciation rates continue to be some of the highest in America, at 7.00%, which is higher than appreciation rates in 86.88% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Pepper Pike. Pepper Pike appreciation rates in the latest quarter were at 3.02%, which equates to an annual appreciation rate of 12.64%.

Importantly, this makes Pepper Pike 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 Pepper Pike's latest annual appreciation rate is higher than 80% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$498,431

Pepper Pike, OH HOME PRICES

> $1,240,000
3.4%
3.4%
$930,001 - $1,240,000
9.8%
9.8%
$620,001 - $930,000
23.1%
23.1%
$496,001 - $620,000
23.4%
23.4%
$372,001 - $496,000
19.7%
19.7%
$248,001 - $372,000
13.3%
13.3%
$124,001 - $248,000
3.9%
3.9%
$62,001 - $124,000
1.0%
1.0%
$0 - $62,000
2.4%
2.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for OH

Value Relative To Nation

Number Of Homes And Apartments:
2,228

Pepper Pike 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
27.76% 1.17%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,270 / per month

Homeownership Rate

Owners
93.1%
93.1%
Renters
6.9%
6.9%
Vacant
6.7%
6.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
10.1%
10.1%
1970 - 1999
32.8%
32.8%
1940 - 1969
53.7%
53.7%
1939 or Older
3.3%
3.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
92.8%
92.8%
Townhomes
4.3%
4.3%
Small Apt. Buildings
1.7%
1.7%
Apt. Complexes
1.3%
1.3%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
0.8%
0.8%
2 Bedrooms
5.2%
5.2%
3 Bedrooms
27.8%
27.8%
4 Bedrooms
44.2%
44.2%
5 or more bedrooms
21.9%
21.9%
0.0% 100.0%
% OF HOMES