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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Westlake, 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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

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

Westlake, OH Housing Market Trends

With a population of 33,907, 14,446 total housing units (homes and apartments), and a median house value of $343,452, Westlake real estate is some of the most expensive in Ohio, although Westlake home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Westlake, accounting for 57.72% of the city's housing units. Other types of housing that are prevalent in Westlake include large apartment complexes or high rise apartments ( 30.32%), row houses and other attached homes ( 9.16%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.73%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Westlake. Owner-occupied housing accounts for 70.40% of Westlake's homes, and 53.63% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Westlake 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 Westlake built between 1940-1969 ( 24.35%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.18%). There's also some housing in Westlake built before 1939 ( 2.62%).

Westlake Home Appreciation Rates

Real estate appreciation rates in Westlake's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.79% during the period.

NeighborhoodScout's data show that during the latest twelve months, Westlake's appreciation rate, at 5.77%, has been at or slightly above the national average. In the latest quarter, Westlake's appreciation rate has been 4.60%, which annualizes to a rate of 19.71%.

Importantly, this makes Westlake 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 Westlake's latest annual appreciation rate is higher than 60% 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 Westlake differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Westlake - 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 Westlake real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$343,452

Westlake, OH Home Prices
> $1,353,000
$1,015,001 - $1,353,000
$677,001 - $1,015,000
$541,001 - $677,000
$406,001 - $541,000
$271,001 - $406,000
$135,001 - $271,000
$67,001 - $135,000
$0 - $67,000
1.7%
1.7%
3.7%
3.7%
9.5%
9.5%
10.0%
10.0%
20.7%
20.7%
23.0%
23.0%
23.7%
23.7%
6.1%
6.1%
1.6%
1.6%
0% 100.0%
% of Homes
Very High

for Ohio

High

for nation

Number of Homes And Apartments:

14,446

Westlake Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,258 / per month

Homeownership Rate

Owners
Renters
Vacant
70.4%
70.4%
29.6%
29.6%
7.1%
7.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
14.2%
14.2%
58.8%
58.8%
24.4%
24.4%
2.6%
2.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
57.7%
57.7%
9.2%
9.2%
2.7%
2.7%
30.3%
30.3%
0.1%
0.1%
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
1.9%
1.9%
10.3%
10.3%
26.7%
26.7%
26.4%
26.4%
27.3%
27.3%
7.5%
7.5%
0% 100.0%
% of Homes