Richwood, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Richwood, 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

Richwood Housing Market Information

With 2,281 people, 866 houses or apartments, and a median cost of homes of $134,238, house prices in Richwood are solidly below the national average.

Single-family detached homes are the single most common housing type in Richwood, accounting for 72.75% of the village's housing units. Other types of housing that are prevalent in Richwood include large apartment complexes or high rise apartments ( 9.96%), row houses and other attached homes ( 6.29%), and a few mobile homes or trailers ( 5.66%).

The most prevalent building size and type in Richwood are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 61.55% owning and 38.45% 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. Richwood's housing was primarily built during this period, from the '40s through the '60s. A full 35.01% of the village's housing hails from this era. Other housing ages represented in Richwood include homes built before 1939 ( 33.86%) and housing constructed between 1970-1999 ( 27.15%). There's also some housing in Richwood built between 2000 and later ( 3.98%).

Richwood Home Appreciation Rates

Real estate appreciation rates in Richwood's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.28% during the period.

NeighborhoodScout's data show that during the latest twelve months, Richwood's appreciation rate, at 3.20%, has been at or slightly above the national average. In the latest quarter, Richwood's appreciation rate has been 0.34%, which annualizes to a rate of 1.37%.

Relative to Ohio, our data show that Richwood's latest annual appreciation rate is higher than 50% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$134,238

Richwood, OH HOME PRICES

Value Range
> $1,095,000 1.6
$821,001 - $1,095,000 0.0
$547,001 - $821,000 0.2
$438,001 - $547,000 1.0
$328,001 - $438,000 2.9
$219,001 - $328,000 14.7
$109,001 - $219,000 48.8
$55,001 - $109,000 26.2
$0 - $55,000 4.6

Average for OH
Average for Nation

Value Relative to Nation Value Relative to State
57.5237313957577 49.6062992125984

Number Of Homes And Apartments:
866

Richwood 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
14.08% 0.77% 6 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$892 / per month

Homeownership Rate

Homeownership
Owners 61.55
Renters 38.45
Vacant 9.22

Housing Market Details

 

Age of Homes

AGE OF Richwood HOMES
2000 or Newer 4.0
1970 - 1999 27.1
1940 - 1969 35.0
1939 or Older 33.9

Types of Homes

TYPE OF Richwood HOMES
Single-Family 72.7
Townhomes 6.3
Small Apt. Buildings 5.3
Apt. Complexes 10.0
Mobile Homes 5.7
Other 0.0

Home Size

SIZE OF Richwood HOMES
No Bedroom 1.47
1 Bedroom 11.95
2 Bedrooms 31.66
3 Bedrooms 43.61
4 Bedrooms 10.90
5 or more bedrooms 0.42

Popular Neighborhoods in Richwood

Zip Codes in Richwood, OH