Shaker Heights, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Shaker Heights Neighborhoods Since 2000




Shaker Heights, 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

Shaker Heights Housing Market Information

With a population of 27,646, 11,162 total housing units (homes and apartments), and a median house value of $233,960, Shaker Heights real estate is some of the most expensive in Ohio, although Shaker Heights home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Shaker Heights, accounting for 57.59% of the city's housing units. Other types of housing that are prevalent in Shaker Heights include large apartment complexes or high rise apartments ( 27.02%), duplexes, homes converted to apartments or other small apartment buildings ( 11.76%), and a few row houses and other attached homes ( 3.19%).

The most prevalent building size and type in Shaker Heights are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.87% owning and 36.13% renting.

The housing in Shaker Heights was primarily built before 1939 ( 45.87%), making the housing stock in Shaker Heights some of the oldest overall in America, although there is a range of ages of homes in Shaker Heights. The next most important housing age is between 1940-1969 ( 45.52%), followed by between 1970-1999 ( 6.50%). There's also some housing in Shaker Heights built between 2000 and later ( 2.11%).

Vacant housing appears to be an issue in Shaker Heights. Fully 11.16% of the housing stock is classified as vacant. Left unchecked, vacant Shaker Heights homes and apartments can be a drag on the real estate market, holding Shaker Heights 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.

Shaker Heights Home Appreciation Rates

Real estate appreciation rates in Shaker Heights's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.79% during the period.

NeighborhoodScout's data show that during the latest twelve months, Shaker Heights's appreciation rate, at 4.06%, has been at or slightly above the national average. In the latest quarter, Shaker Heights's appreciation rate has been -0.21%, which annualizes to a rate of -0.82%.

Relative to Ohio, our data show that Shaker Heights's latest annual appreciation rate is higher than 60% 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 Shaker Heights differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Shaker Heights - 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 Shaker Heights real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$233,960

Shaker Heights, OH HOME PRICES

Value Range
> $1,082,000 0.8
$812,001 - $1,082,000 2.3
$541,001 - $812,000 7.7
$433,001 - $541,000 7.5
$325,001 - $433,000 8.8
$216,001 - $325,000 23.6
$108,001 - $216,000 34.2
$54,001 - $108,000 12.0
$0 - $54,000 3.0

Very High for OH
High for Nation

Value Relative to Nation Value Relative to State
25.1025430680886 8.9238845144357

Number Of Homes And Apartments:
11,162

Shaker Heights 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
3.79% 0.22% 3 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,150 / per month

Homeownership Rate

Homeownership
Owners 63.87
Renters 36.13
Vacant 11.16

Housing Market Details

 

Age of Homes

AGE OF Shaker Heights HOMES
2000 or Newer 2.1
1970 - 1999 6.5
1940 - 1969 45.5
1939 or Older 45.9

Types of Homes

TYPE OF Shaker Heights HOMES
Single-Family 57.6
Townhomes 3.2
Small Apt. Buildings 11.8
Apt. Complexes 27.0
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Shaker Heights HOMES
No Bedroom 0.87
1 Bedroom 7.66
2 Bedrooms 27.19
3 Bedrooms 22.95
4 Bedrooms 24.44
5 or more bedrooms 16.90