Portsmouth, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Portsmouth, OH Real Estate Data


Portsmouth Housing Market Information

With a population of 20,409, 7,992 total housing units (homes and apartments), and a median house value of $80,203, house prices in Portsmouth are some of the most affordable in Ohio as well as the nation.

Single-family detached homes are the single most common housing type in Portsmouth, accounting for 67.31% of the city's housing units. Other types of housing that are prevalent in Portsmouth include large apartment complexes or high rise apartments ( 16.18%), duplexes, homes converted to apartments or other small apartment buildings ( 10.40%), and a few mobile homes or trailers ( 3.68%).

People in Portsmouth primarily live in small (one, two or no bedroom) single-family detached homes. Portsmouth has a mixture of owner-occupied and renter-occupied housing.

The housing in Portsmouth was primarily built before 1939 ( 51.18%), making the housing stock in Portsmouth some of the oldest overall in America, although there is a range of ages of homes in Portsmouth. The next most important housing age is between 1940-1969 ( 34.45%), followed by between 1970-1999 ( 13.20%). There's also some housing in Portsmouth built between 2000 and later ( 1.16%).

Vacant housing appears to be an issue in Portsmouth. Fully 16.91% of the housing stock is classified as vacant. Left unchecked, vacant Portsmouth homes and apartments can be a drag on the real estate market, holding Portsmouth real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Portsmouth Home Appreciation Rates

Appreciation rates for homes in Portsmouth have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.78%, which ranks in the top 50% nationwide. This equates to an annual average Portsmouth house appreciation rate of 0.66%.

Over the last year, Portsmouth appreciation rates have trailed the rest of the nation. In the last twelve months, Portsmouth's appreciation rate has been 4.15%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Portsmouth were at 1.15%, which equates to an annual appreciation rate of 4.69%.

Relative to Ohio, our data show that Portsmouth's latest annual appreciation rate is lower than 70% 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 Portsmouth differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Portsmouth - 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 Portsmouth real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$80,203

Portsmouth, OH HOME PRICES

Value Range
> $1,050,000 0.1
$788,001 - $1,050,000 0.8
$525,001 - $788,000 0.8
$420,001 - $525,000 0.3
$315,001 - $420,000 0.7
$210,001 - $315,000 3.6
$105,001 - $210,000 22.8
$53,001 - $105,000 42.5
$0 - $53,000 28.3

Very Low for OH
Very Low for Nation

Value Relative to Nation Value Relative to State
91.1899045499795 95.8005249343832

Number Of Homes And Apartments:
7,992

Rent & Ownership

 

Average Market Rent:
$847 / per month

Homeownership Rate

Homeownership
Owners 48.89
Renters 51.11
Vacant 16.91

Housing Market Details

 

Age of Homes

AGE OF Portsmouth HOMES
2000 or Newer 1.2
1970 - 1999 13.2
1940 - 1969 34.5
1939 or Older 51.2

Types of Homes

TYPE OF Portsmouth HOMES
Single-Family 67.3
Townhomes 2.4
Small Apt. Buildings 10.4
Apt. Complexes 16.2
Mobile Homes 3.7
Other 0.0

Home Size

SIZE OF Portsmouth HOMES
No Bedroom 1.54
1 Bedroom 13.26
2 Bedrooms 38.77
3 Bedrooms 35.37
4 Bedrooms 9.74
5 or more bedrooms 1.33

Portsmouth Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
23.86% 1.27% 8 2
* 10 is highest