Warren, OH Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Warren, OH Housing Market Trends

With a population of 38,752, 16,933 total housing units (homes and apartments), and a median house value of $70,453, 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 70.53% of the city's housing units. Other types of housing that are prevalent in Warren include large apartment complexes or high rise apartments ( 17.22%), duplexes, homes converted to apartments or other small apartment buildings ( 9.81%), and a few row houses and other attached homes ( 1.76%).

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 46.94% owning and 53.06% 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 57.20% of the city's housing hails from this era. Other housing ages represented in Warren include homes built before 1939 ( 24.47%) and housing constructed between 1970-1999 ( 15.35%). There's also some housing in Warren built between 2000 and later ( 2.98%).

Vacant housing appears to be an issue in Warren. Fully 15.00% 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 2.26%, 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 15.28%, which is higher than appreciation rates in 96.06% 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 2.69%, which equates to an annual appreciation rate of 11.20%.

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:
$70,453

Warren, OH HOME PRICES

> $1,247,000
0.0%
0.0%
$935,001 - $1,247,000
0.1%
0.1%
$624,001 - $935,000
0.3%
0.3%
$499,001 - $624,000
0.5%
0.5%
$374,001 - $499,000
0.4%
0.4%
$250,001 - $374,000
1.9%
1.9%
$125,001 - $250,000
15.8%
15.8%
$62,001 - $125,000
42.7%
42.7%
$0 - $62,000
38.2%
38.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for OH

Value Relative To Nation

Number Of Homes And Apartments:
16,933

Warren Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
3.83% 0.18%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$897 / per month

Homeownership Rate

Owners
46.9%
46.9%
Renters
53.1%
53.1%
Vacant
15.0%
15.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
3.0%
3.0%
1970 - 1999
15.4%
15.4%
1940 - 1969
57.2%
57.2%
1939 or Older
24.5%
24.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
70.5%
70.5%
Townhomes
1.8%
1.8%
Small Apt. Buildings
9.8%
9.8%
Apt. Complexes
17.2%
17.2%
Mobile Homes
0.7%
0.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.5%
2.5%
1 Bedroom
9.4%
9.4%
2 Bedrooms
32.9%
32.9%
3 Bedrooms
43.2%
43.2%
4 Bedrooms
9.9%
9.9%
5 or more bedrooms
2.0%
2.0%
0.0% 100.0%
% OF HOMES