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Westerville, 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 Q1 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

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

Westerville, OH Housing Market Trends

With 39,190 people, 11,612 houses or apartments, and a median cost of homes of $327,552, Westerville real estate is some of the most expensive in Ohio, although Westerville home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Westerville, accounting for 74.90% of the city's housing units. Other types of housing that are prevalent in Westerville include large apartment complexes or high rise apartments ( 12.03%), row houses and other attached homes ( 7.43%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.64%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Westerville. Owner-occupied housing accounts for 73.98% of Westerville's homes, and 71.18% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Westerville 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 Westerville built between 1940-1969 ( 21.64%). A lesser amount of the housing stock also hails from before 1939 ( 8.19%). There's also some housing in Westerville built between 2000 and later ( 6.44%).

Westerville Home Appreciation Rates

Appreciation rates for homes in Westerville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 80.65%, which ranks in the top 30% nationwide. This equates to an annual average Westerville house appreciation rate of 6.09%.

Over the last year, Westerville appreciation rates have trailed the rest of the nation. In the last twelve months, Westerville's appreciation rate has been 13.29%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Westerville were at 1.21%, which equates to an annual appreciation rate of 4.93%.

Relative to Ohio, our data show that Westerville's latest annual appreciation rate is lower than 50% 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 Westerville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Westerville - 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 Westerville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$327,552

Westerville, OH HOME PRICES

> $1,351,000
$1,013,001 - $1,351,000
$676,001 - $1,013,000
$540,001 - $676,000
$405,001 - $540,000
$270,001 - $405,000
$135,001 - $270,000
$68,001 - $135,000
$0 - $68,000
0.1%
0.1%
0.2%
0.2%
0.8%
0.8%
3.6%
3.6%
22.9%
22.9%
42.8%
42.8%
24.1%
24.1%
5.0%
5.0%
0.6%
0.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for OH

Value Relative To Nation

Number Of Homes And Apartments:
11,612

Westerville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2021 Q4 - 2022 Q1
Last 12 Months:
2021 Q1 - 2022 Q1
Last 2 Years:
2020 Q1 - 2022 Q1
Last 5 Years:
2017 Q1 - 2022 Q1
Last 10 Years:
2012 Q1 - 2022 Q1
Since 2000:
2000 Q1 - 2022 Q1
99.31% 3.15%
10
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,553 / per month

Homeownership Rate

Owners
Renters
Vacant
74.0%
74.0%
26.0%
26.0%
3.8%
3.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
6.4%
6.4%
63.7%
63.7%
21.6%
21.6%
8.2%
8.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
74.9%
74.9%
7.4%
7.4%
5.6%
5.6%
12.0%
12.0%
0.0%
0.0%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.2%
1.2%
4.8%
4.8%
18.8%
18.8%
34.3%
34.3%
36.8%
36.8%
4.0%
4.0%
0.0% 100.0%
% OF HOMES