Vermilion, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Vermilion, OH Real Estate Data


Vermilion Housing Market Information

With 10,434 people, 4,283 houses or apartments, and a median cost of homes of $154,639, 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 82.30% of the city's housing units. Other types of housing that are prevalent in Vermilion include row houses and other attached homes ( 7.46%), large apartment complexes or high rise apartments ( 6.90%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.33%).

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 75.32% of Vermilion's homes, and 60.50% have either three or four bedrooms, which is average sized relative to America.

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. Vermilion's housing was primarily built during this period, from the '40s through the '60s. A full 40.07% of the city's housing hails from this era. Other housing ages represented in Vermilion include homes built between 1970-1999 ( 33.88%) and housing constructed before 1939 ( 18.63%). There's also some housing in Vermilion built between 2000 and later ( 7.42%).

Vacant housing appears to be an issue in Vermilion. Fully 16.98% 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 -0.15% during the period.

NeighborhoodScout's data show that during the latest twelve months, Vermilion's appreciation rate, at 5.34%, has been at or slightly above the national average. In the latest quarter, Vermilion's appreciation rate has been 2.34%, which annualizes to a rate of 9.68%.

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

Average Home Values

 

Median Home Value:
$154,639

Vermilion, OH HOME PRICES

Value Range
> $1,139,000 0.5
$854,001 - $1,139,000 0.4
$569,001 - $854,000 2.0
$455,001 - $569,000 1.3
$342,001 - $455,000 1.3
$228,001 - $342,000 15.8
$114,001 - $228,000 55.1
$57,001 - $114,000 20.8
$0 - $57,000 2.7

High for OH
Average for Nation

Value Relative to Nation Value Relative to State
48.7702758095684 37.2703412073491

Number Of Homes And Apartments:
4,283

Rent & Ownership

 

Average Market Rent:
$890 / per month

Homeownership Rate

Homeownership
Owners 75.32
Renters 24.68
Vacant 16.98

Housing Market Details

 

Age of Homes

AGE OF Vermilion HOMES
2000 or Newer 7.4
1970 - 1999 33.9
1940 - 1969 40.1
1939 or Older 18.6

Types of Homes

TYPE OF Vermilion HOMES
Single-Family 82.3
Townhomes 7.5
Small Apt. Buildings 3.3
Apt. Complexes 6.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Vermilion HOMES
No Bedroom 0.00
1 Bedroom 6.22
2 Bedrooms 30.61
3 Bedrooms 44.68
4 Bedrooms 15.82
5 or more bedrooms 2.67

Vermilion Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
12.05% 0.67% 5 1
* 10 is highest