Rittman, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Rittman Neighborhoods Since 2000




Rittman, 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

Rittman Housing Market Information

With a population of 6,580, 2,505 total housing units (homes and apartments), and a median house value of $131,577, house prices in Rittman are solidly below the national average.

Single-family detached homes are the single most common housing type in Rittman, accounting for 82.85% of the city's housing units. Other types of housing that are prevalent in Rittman include duplexes, homes converted to apartments or other small apartment buildings ( 8.99%), large apartment complexes or high rise apartments ( 5.31%), and a few row houses and other attached homes ( 2.60%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Rittman. Owner-occupied housing accounts for 72.48% of Rittman's homes, and 68.48% 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. Rittman's housing was primarily built during this period, from the '40s through the '60s. A full 44.40% of the city's housing hails from this era. Other housing ages represented in Rittman include homes built between 1970-1999 ( 27.55%) and housing constructed before 1939 ( 18.05%). There's also some housing in Rittman built between 2000 and later ( 10.00%).

Rittman Home Appreciation Rates

Rittman's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Rittman during the period has been just -1.08%, which is lower than 70% of US communities.

Over the last year, Rittman appreciation rates have trailed the rest of the nation. In the last twelve months, Rittman's appreciation rate has been -0.20%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rittman were at -0.60%, which equates to an annual appreciation rate of -2.36%.

Notably, Rittman's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Ohio, our data show that Rittman's latest annual appreciation rate is lower than 80% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$131,577

Rittman, OH HOME PRICES

Value Range
> $1,069,000 0.0
$802,001 - $1,069,000 0.0
$534,001 - $802,000 0.0
$428,001 - $534,000 0.0
$321,001 - $428,000 0.5
$214,001 - $321,000 4.6
$107,001 - $214,000 48.4
$53,001 - $107,000 41.1
$0 - $53,000 5.3

Average for OH
Average for Nation

Value Relative to Nation Value Relative to State
59.0384390015235 52.8871391076115

Number Of Homes And Apartments:
2,505

Rittman 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
-0.55% -0.03% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$906 / per month

Homeownership Rate

Homeownership
Owners 72.48
Renters 27.52
Vacant 9.57

Housing Market Details

 

Age of Homes

AGE OF Rittman HOMES
2000 or Newer 10.0
1970 - 1999 27.5
1940 - 1969 44.4
1939 or Older 18.1

Types of Homes

TYPE OF Rittman HOMES
Single-Family 82.9
Townhomes 2.6
Small Apt. Buildings 9.0
Apt. Complexes 5.3
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Rittman HOMES
No Bedroom 0.61
1 Bedroom 6.14
2 Bedrooms 23.86
3 Bedrooms 54.19
4 Bedrooms 14.30
5 or more bedrooms 0.90