Richfield, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Richfield Neighborhoods Since 2000




Richfield, 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

Richfield Housing Market Information

With a population of 3,702, 1,435 total housing units (homes and apartments), and a median house value of $270,802, Richfield real estate is some of the most expensive in Ohio, although Richfield home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Richfield, accounting for 89.86% of the village's housing units. Other types of housing that are prevalent in Richfield include row houses and other attached homes ( 6.53%), duplexes, homes converted to apartments or other small apartment buildings ( 3.06%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Richfield. Owner-occupied housing accounts for 88.00% of Richfield's homes, and 78.98% 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. Richfield's housing was primarily built during this period, from the '40s through the '60s. A full 41.63% of the village's housing hails from this era. Other housing ages represented in Richfield include homes built between 1970-1999 ( 31.29%) and housing constructed before 1939 ( 16.26%). There's also some housing in Richfield built between 2000 and later ( 10.82%).

Richfield Home Appreciation Rates

Real estate appreciation rates in Richfield's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.45% during the period.

Over the last year, Richfield appreciation rates have trailed the rest of the nation. In the last twelve months, Richfield's appreciation rate has been 0.86%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Richfield were at 0.81%, which equates to an annual appreciation rate of 3.28%.

Relative to Ohio, our data show that Richfield's latest annual appreciation rate is lower than 70% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$270,802

Richfield, OH HOME PRICES

Value Range
> $1,082,000 3.9
$811,001 - $1,082,000 4.0
$541,001 - $811,000 12.7
$432,001 - $541,000 13.2
$325,001 - $432,000 12.8
$217,001 - $325,000 23.6
$108,001 - $217,000 28.2
$54,001 - $108,000 0.7
$0 - $54,000 0.8

Very High for OH
Very High for Nation

Value Relative to Nation Value Relative to State
19.6179538263213 6.2992125984252

Number Of Homes And Apartments:
1,435

Richfield 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
9.49% 0.53% 5 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,226 / per month

Homeownership Rate

Homeownership
Owners 88.00
Renters 12.00
Vacant 2.38

Housing Market Details

 

Age of Homes

AGE OF Richfield HOMES
2000 or Newer 10.8
1970 - 1999 31.3
1940 - 1969 41.6
1939 or Older 16.3

Types of Homes

TYPE OF Richfield HOMES
Single-Family 89.9
Townhomes 6.5
Small Apt. Buildings 3.1
Apt. Complexes 0.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Richfield HOMES
No Bedroom 0.00
1 Bedroom 2.24
2 Bedrooms 13.54
3 Bedrooms 42.45
4 Bedrooms 36.53
5 or more bedrooms 5.24