Utica, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Utica, 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

Utica Housing Market Information

With a population of 2,196, 844 total housing units (homes and apartments), and a median house value of $149,817, Utica real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Utica, accounting for 72.75% of the village's housing units. Other types of housing that are prevalent in Utica include duplexes, homes converted to apartments or other small apartment buildings ( 11.20%), mobile homes or trailers ( 9.22%), and a few large apartment complexes or high rise apartments ( 6.64%).

Dwellings in Utica tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 49.06% of the homes in Utica have two or fewer bedrooms.

The housing in Utica was primarily built before 1939 ( 39.94%), making the housing stock in Utica some of the oldest overall in America, although there is a range of ages of homes in Utica. The next most important housing age is between 1970-1999 ( 33.80%), followed by between 1940-1969 ( 23.09%). There's also some housing in Utica built between 2000 and later ( 3.17%).

Vacant housing appears to be an issue in Utica. Fully 16.35% of the housing stock is classified as vacant. Left unchecked, vacant Utica homes and apartments can be a drag on the real estate market, holding Utica 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.

Utica Home Appreciation Rates

Appreciation rates for homes in Utica have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 0.48%, which ranks in the top 50% nationwide. This equates to an annual average Utica house appreciation rate of 0.05%.

Appreciation rates are so strong in Utica that despite a nationwide downturn in the housing market, Utica real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Utica appreciation rates continue to be some of the highest in America, at 6.36%, which is higher than appreciation rates in 76.84% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Utica. Utica appreciation rates in the latest quarter were at 0.33%, which equates to an annual appreciation rate of 1.34%.

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

Average Home Values

 

Median Home Value:
$149,817

Utica, OH HOME PRICES

Value Range
> $1,135,000 0.4
$851,001 - $1,135,000 0.2
$567,001 - $851,000 1.4
$454,001 - $567,000 3.8
$341,001 - $454,000 2.6
$227,001 - $341,000 15.0
$113,001 - $227,000 43.5
$57,001 - $113,000 25.0
$0 - $57,000 8.0

High for OH
Average for Nation

Value Relative to Nation Value Relative to State
50.0585960389078 36.8766404199475

Number Of Homes And Apartments:
844

Utica 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
20.04% 1.06% 8 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$771 / per month

Homeownership Rate

Homeownership
Owners 65.69
Renters 34.31
Vacant 16.35

Housing Market Details

 

Age of Homes

AGE OF Utica HOMES
2000 or Newer 3.2
1970 - 1999 33.8
1940 - 1969 23.1
1939 or Older 39.9

Types of Homes

TYPE OF Utica HOMES
Single-Family 72.7
Townhomes 0.2
Small Apt. Buildings 11.2
Apt. Complexes 6.6
Mobile Homes 9.2
Other 0.0

Home Size

SIZE OF Utica HOMES
No Bedroom 3.77
1 Bedroom 10.51
2 Bedrooms 34.79
3 Bedrooms 36.87
4 Bedrooms 11.00
5 or more bedrooms 3.07

Popular Neighborhoods in Utica

Zip Codes in Utica, OH