Rocky River, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Rocky River, OH Real Estate Data


Rocky River Housing Market Information

With 20,376 people, 8,822 houses or apartments, and a median cost of homes of $261,669, Rocky River real estate is some of the most expensive in Ohio, although Rocky River home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Rocky River, accounting for 58.04% of the city's housing units. Other types of housing that are prevalent in Rocky River include large apartment complexes or high rise apartments ( 30.44%), duplexes, homes converted to apartments or other small apartment buildings ( 6.68%), and a few row houses and other attached homes ( 4.77%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Rocky River. Owner-occupied housing accounts for 72.79% of Rocky River's homes, and 54.20% 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. Rocky River's housing was primarily built during this period, from the '40s through the '60s. A full 55.04% of the city's housing hails from this era. Other housing ages represented in Rocky River include homes built between 1970-1999 ( 21.85%) and housing constructed before 1939 ( 20.86%). There's also some housing in Rocky River built between 2000 and later ( 2.26%).

Rocky River Home Appreciation Rates

Appreciation rates for homes in Rocky River have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.67%, which ranks in the top 40% nationwide. This equates to an annual average Rocky River house appreciation rate of 1.11%.

NeighborhoodScout's data show that during the latest twelve months, Rocky River's appreciation rate, at 5.45%, has been at or slightly above the national average. In the latest quarter, Rocky River's appreciation rate has been 3.30%, which annualizes to a rate of 13.87%.

Importantly, this makes Rocky River 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 Rocky River's latest annual appreciation rate is higher than 60% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$261,669

Rocky River, OH HOME PRICES

Value Range
> $1,187,000 0.9
$890,001 - $1,187,000 0.7
$594,001 - $890,000 4.4
$475,001 - $594,000 3.7
$356,001 - $475,000 11.5
$238,001 - $356,000 30.9
$119,001 - $238,000 33.7
$60,001 - $119,000 9.7
$0 - $60,000 4.6

Very High for OH
High for Nation

Value Relative to Nation Value Relative to State
21.4264800609006 7.08661417322835

Number Of Homes And Apartments:
8,822

Rent & Ownership

 

Average Market Rent:
$1,284 / per month

Homeownership Rate

Homeownership
Owners 72.79
Renters 27.21
Vacant 9.90

Housing Market Details

 

Age of Homes

AGE OF Rocky River HOMES
2000 or Newer 2.3
1970 - 1999 21.8
1940 - 1969 55.0
1939 or Older 20.9

Types of Homes

TYPE OF Rocky River HOMES
Single-Family 58.0
Townhomes 4.8
Small Apt. Buildings 6.7
Apt. Complexes 30.4
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Rocky River HOMES
No Bedroom 1.99
1 Bedroom 12.57
2 Bedrooms 25.40
3 Bedrooms 32.93
4 Bedrooms 21.27
5 or more bedrooms 5.83

Rocky River 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
26.64% 1.40% 9 3
* 10 is highest