Urbana, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Urbana, 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

Urbana Housing Market Information

With a population of 11,547, 4,958 total housing units (homes and apartments), and a median house value of $116,361, house prices in Urbana are solidly below the national average.

Single-family detached homes are the single most common housing type in Urbana, accounting for 67.32% of the city's housing units. Other types of housing that are prevalent in Urbana include duplexes, homes converted to apartments or other small apartment buildings ( 13.63%), large apartment complexes or high rise apartments ( 13.39%), and a few row houses and other attached homes ( 3.24%).

The most prevalent building size and type in Urbana are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.42% owning and 48.58% renting.

The housing in Urbana was primarily built before 1939 ( 35.42%), making the housing stock in Urbana some of the oldest overall in America, although there is a range of ages of homes in Urbana. The next most important housing age is between 1970-1999 ( 29.33%), followed by between 1940-1969 ( 26.97%). There's also some housing in Urbana built between 2000 and later ( 8.29%).

Vacant housing appears to be an issue in Urbana. Fully 11.23% of the housing stock is classified as vacant. Left unchecked, vacant Urbana homes and apartments can be a drag on the real estate market, holding Urbana 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.

Urbana Home Appreciation Rates

Urbana's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Urbana during the period has been just -1.10%, which is lower than 70% of US communities.

Over the last year, Urbana appreciation rates have trailed the rest of the nation. In the last twelve months, Urbana's appreciation rate has been 1.08%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Urbana were at -0.60%, which equates to an annual appreciation rate of -2.39%.

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

Relative to Ohio, our data show that Urbana's latest annual appreciation rate is lower than 70% 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 Urbana differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Urbana - 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 Urbana real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$116,361

Urbana, OH HOME PRICES

Value Range
> $1,038,000 0.0
$778,001 - $1,038,000 0.0
$519,001 - $778,000 0.0
$415,001 - $519,000 0.0
$312,001 - $415,000 0.7
$207,001 - $312,000 7.8
$104,001 - $207,000 43.3
$52,001 - $104,000 39.7
$0 - $52,000 8.4

Low for OH
Low for Nation

Value Relative to Nation Value Relative to State
67.5143560295324 67.0603674540682

Number Of Homes And Apartments:
4,958

Urbana 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
-0.05% 0.00% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$853 / per month

Homeownership Rate

Homeownership
Owners 51.42
Renters 48.58
Vacant 11.23

Housing Market Details

 

Age of Homes

AGE OF Urbana HOMES
2000 or Newer 8.3
1970 - 1999 29.3
1940 - 1969 27.0
1939 or Older 35.4

Types of Homes

TYPE OF Urbana HOMES
Single-Family 67.3
Townhomes 3.2
Small Apt. Buildings 13.6
Apt. Complexes 13.4
Mobile Homes 2.4
Other 0.0

Home Size

SIZE OF Urbana HOMES
No Bedroom 2.40
1 Bedroom 10.65
2 Bedrooms 35.13
3 Bedrooms 38.76
4 Bedrooms 10.71
5 or more bedrooms 2.35