Vermilion, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Vermilion Neighborhoods Since 2000




Vermilion, 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

Vermilion Housing Market Information

With 10,434 people, 4,515 houses or apartments, and a median cost of homes of $157,116, Vermilion 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 Vermilion, accounting for 81.28% of the city's housing units. Other types of housing that are prevalent in Vermilion include large apartment complexes or high rise apartments ( 7.75%), row houses and other attached homes ( 7.67%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.30%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Vermilion. Owner-occupied housing accounts for 75.85% of Vermilion's homes, and 62.37% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Vermilion built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Vermilion built between 1940-1969 ( 36.56%). A lesser amount of the housing stock also hails from before 1939 ( 17.71%). There's also some housing in Vermilion built between 2000 and later ( 8.81%).

Vacant housing appears to be an issue in Vermilion. Fully 15.73% of the housing stock is classified as vacant. Left unchecked, vacant Vermilion homes and apartments can be a drag on the real estate market, holding Vermilion 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.

Vermilion Home Appreciation Rates

Real estate appreciation rates in Vermilion's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.77% during the period.

Over the last year, Vermilion appreciation rates have trailed the rest of the nation. In the last twelve months, Vermilion's appreciation rate has been 2.60%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Vermilion were at -0.38%, which equates to an annual appreciation rate of -1.53%.

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

Average Home Values

 

Median Home Value:
$157,116

Vermilion, OH HOME PRICES

Value Range
> $1,111,000 0.0
$833,001 - $1,111,000 0.4
$555,001 - $833,000 1.0
$444,001 - $555,000 1.8
$333,001 - $444,000 4.0
$222,001 - $333,000 12.6
$111,001 - $222,000 57.7
$56,001 - $111,000 20.1
$0 - $56,000 2.5

High for OH
Average for Nation

Value Relative to Nation Value Relative to State
46.9940232040314 33.2020997375328

Number Of Homes And Apartments:
4,515

Vermilion 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
-0.64% -0.04% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$930 / per month

Homeownership Rate

Homeownership
Owners 75.85
Renters 24.15
Vacant 15.73

Housing Market Details

 

Age of Homes

AGE OF Vermilion HOMES
2000 or Newer 8.8
1970 - 1999 36.9
1940 - 1969 36.6
1939 or Older 17.7

Types of Homes

TYPE OF Vermilion HOMES
Single-Family 81.3
Townhomes 7.7
Small Apt. Buildings 3.3
Apt. Complexes 7.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Vermilion HOMES
No Bedroom 0.00
1 Bedroom 6.44
2 Bedrooms 29.25
3 Bedrooms 49.14
4 Bedrooms 13.23
5 or more bedrooms 1.94