University Heights, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating University Heights Neighborhoods Since 2000




University 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

University Heights Housing Market Information

With 13,202 people, 4,596 houses or apartments, and a median cost of homes of $178,687, University Heights real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in University Heights, accounting for 73.45% of the city's housing units. Other types of housing that are prevalent in University Heights include large apartment complexes or high rise apartments ( 14.88%), duplexes, homes converted to apartments or other small apartment buildings ( 9.89%), and a few row houses and other attached homes ( 1.78%).

The most prevalent building size and type in University Heights are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.83% owning and 43.17% 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. University Heights's housing was primarily built during this period, from the '40s through the '60s. A full 64.39% of the city's housing hails from this era. Other housing ages represented in University Heights include homes built before 1939 ( 24.39%) and housing constructed between 1970-1999 ( 10.95%).

Vacant housing appears to be an issue in University Heights. Fully 12.91% of the housing stock is classified as vacant. Left unchecked, vacant University Heights homes and apartments can be a drag on the real estate market, holding University 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.

University Heights Home Appreciation Rates

University Heights's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in University Heights during the period has been just -1.30%, which is lower than 70% of US communities.

Over the last year, University Heights appreciation rates have trailed the rest of the nation. In the last twelve months, University Heights's appreciation rate has been 2.85%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in University Heights were at -0.21%, which equates to an annual appreciation rate of -0.82%.

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

Average Home Values

 

Median Home Value:
$178,687

University Heights, OH HOME PRICES

Value Range
> $1,068,000 0.2
$801,001 - $1,068,000 0.0
$534,001 - $801,000 0.0
$427,001 - $534,000 0.0
$320,001 - $427,000 4.0
$214,001 - $320,000 21.1
$107,001 - $214,000 66.2
$53,001 - $107,000 6.0
$0 - $53,000 2.5

High for OH
High for Nation

Value Relative to Nation Value Relative to State
38.5854916207664 21.6535433070866

Number Of Homes And Apartments:
4,596

University 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
0.46% 0.03% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,143 / per month

Homeownership Rate

Homeownership
Owners 56.83
Renters 43.17
Vacant 12.91

Housing Market Details

 

Age of Homes

AGE OF University Heights HOMES
2000 or Newer 0.3
1970 - 1999 11.0
1940 - 1969 64.4
1939 or Older 24.4

Types of Homes

TYPE OF University Heights HOMES
Single-Family 73.5
Townhomes 1.8
Small Apt. Buildings 9.9
Apt. Complexes 14.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF University Heights HOMES
No Bedroom 0.66
1 Bedroom 8.00
2 Bedrooms 17.19
3 Bedrooms 43.11
4 Bedrooms 26.51
5 or more bedrooms 4.53