Willowick, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Willowick Neighborhoods Since 2000




Willowick, 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

Willowick Housing Market Information

With a population of 13,957, 5,925 total housing units (homes and apartments), and a median house value of $124,020, house prices in Willowick are solidly below the national average.

Single-family detached homes are the single most common housing type in Willowick, accounting for 83.91% of the city's housing units. Other types of housing that are prevalent in Willowick include large apartment complexes or high rise apartments ( 12.86%), row houses and other attached homes ( 1.99%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Willowick. Owner-occupied housing accounts for 78.13% of Willowick's homes, and 72.36% 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. Willowick's housing was primarily built during this period, from the '40s through the '60s. A full 81.24% of the city's housing hails from this era. Other housing ages represented in Willowick include homes built between 1970-1999 ( 12.84%) and housing constructed before 1939 ( 3.14%). There's also some housing in Willowick built between 2000 and later ( 2.78%).

Willowick Home Appreciation Rates

Homes have actually lost value in Willowick over the last then years, as home values have seen a decline of 19.30% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Willowick home appreciation rates at -0.21%, which equates to an annual appreciation rate of -0.82%.

Over the last year, Willowick appreciation rates have trailed the rest of the nation. In the last twelve months, Willowick's appreciation rate has been 1.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Willowick were at -0.21%, which equates to an annual appreciation rate of -0.82%.

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

Average Home Values

 

Median Home Value:
$124,020

Willowick, OH HOME PRICES

Value Range
> $1,036,000 0.0
$777,001 - $1,036,000 0.2
$518,001 - $777,000 0.1
$414,001 - $518,000 0.2
$311,001 - $414,000 2.0
$207,001 - $311,000 5.0
$104,001 - $207,000 69.7
$52,001 - $104,000 19.6
$0 - $52,000 3.2

Low for OH
Low for Nation

Value Relative to Nation Value Relative to State
63.1255127153404 60.6299212598425

Number Of Homes And Apartments:
5,925

Willowick 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
-7.75% -0.47% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,028 / per month

Homeownership Rate

Homeownership
Owners 78.13
Renters 21.87
Vacant 6.53

Housing Market Details

 

Age of Homes

AGE OF Willowick HOMES
2000 or Newer 2.8
1970 - 1999 12.8
1940 - 1969 81.2
1939 or Older 3.1

Types of Homes

TYPE OF Willowick HOMES
Single-Family 83.9
Townhomes 2.0
Small Apt. Buildings 0.9
Apt. Complexes 12.9
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Willowick HOMES
No Bedroom 0.50
1 Bedroom 7.79
2 Bedrooms 16.66
3 Bedrooms 59.49
4 Bedrooms 12.87
5 or more bedrooms 2.68