Warren, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Warren, 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

Warren Housing Market Information

With a population of 40,245, 17,398 total housing units (homes and apartments), and a median house value of $63,803, house prices in Warren are some of the most affordable in Ohio as well as the nation.

Single-family detached homes are the single most common housing type in Warren, accounting for 70.49% of the city's housing units. Other types of housing that are prevalent in Warren include large apartment complexes or high rise apartments ( 17.01%), duplexes, homes converted to apartments or other small apartment buildings ( 9.84%), and a few row houses and other attached homes ( 2.28%).

The most prevalent building size and type in Warren are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 49.97% owning and 50.03% 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. Warren's housing was primarily built during this period, from the '40s through the '60s. A full 57.64% of the city's housing hails from this era. Other housing ages represented in Warren include homes built before 1939 ( 24.18%) and housing constructed between 1970-1999 ( 15.73%). There's also some housing in Warren built between 2000 and later ( 2.45%).

Vacant housing appears to be an issue in Warren. Fully 14.78% of the housing stock is classified as vacant. Left unchecked, vacant Warren homes and apartments can be a drag on the real estate market, holding Warren 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.

Warren Home Appreciation Rates

Warren's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Warren during the period has been just -2.09%, which is lower than 80% of US communities.

Appreciation rates are so strong in Warren that despite a nationwide downturn in the housing market, Warren real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Warren appreciation rates continue to be some of the highest in America, at 9.61%, which is higher than appreciation rates in 92.68% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Warren. Warren appreciation rates in the latest quarter were at 2.15%, which equates to an annual appreciation rate of 8.89%.

Importantly, this makes Warren one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Ohio, our data show that Warren's latest annual appreciation rate is higher than 90% 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 Warren differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Warren - 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 Warren real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$63,803

Warren, OH HOME PRICES

Value Range
> $1,052,000 0.2
$789,001 - $1,052,000 0.1
$526,001 - $789,000 0.2
$421,001 - $526,000 0.4
$315,001 - $421,000 0.2
$210,001 - $315,000 2.2
$105,001 - $210,000 14.4
$53,001 - $105,000 42.9
$0 - $53,000 39.6

Very Low for OH
Very Low for Nation

Value Relative to Nation Value Relative to State
97.1229344896285 98.6876640419948

Number Of Homes And Apartments:
17,398

Warren 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
-13.66% -0.85% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$751 / per month

Homeownership Rate

Homeownership
Owners 49.97
Renters 50.03
Vacant 14.78

Housing Market Details

 

Age of Homes

AGE OF Warren HOMES
2000 or Newer 2.5
1970 - 1999 15.7
1940 - 1969 57.6
1939 or Older 24.2

Types of Homes

TYPE OF Warren HOMES
Single-Family 70.5
Townhomes 2.3
Small Apt. Buildings 9.8
Apt. Complexes 17.0
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Warren HOMES
No Bedroom 2.10
1 Bedroom 9.94
2 Bedrooms 30.06
3 Bedrooms 45.27
4 Bedrooms 10.44
5 or more bedrooms 2.19