Wooster, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Wooster, 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

Wooster Housing Market Information

With a population of 26,749, 10,838 total housing units (homes and apartments), and a median house value of $140,285, Wooster real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Wooster, accounting for 54.54% of the city's housing units. Other types of housing that are prevalent in Wooster include large apartment complexes or high rise apartments ( 17.65%), duplexes, homes converted to apartments or other small apartment buildings ( 16.67%), and a few row houses and other attached homes ( 6.93%).

The most prevalent building size and type in Wooster are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 49.64% owning and 50.36% renting.

There is a lot of housing in Wooster 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 Wooster built between 1940-1969 ( 28.30%). A lesser amount of the housing stock also hails from before 1939 ( 19.70%). There's also some housing in Wooster built between 2000 and later ( 11.95%).

Wooster Home Appreciation Rates

Real estate appreciation rates in Wooster's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.38% during the period.

Over the last year, Wooster appreciation rates have trailed the rest of the nation. In the last twelve months, Wooster's appreciation rate has been 0.70%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Wooster were at -0.60%, which equates to an annual appreciation rate of -2.39%.

Notably, Wooster's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Ohio, our data show that Wooster's latest annual appreciation rate is lower than 70% 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 Wooster differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wooster - 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 Wooster real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$140,285

Wooster, OH HOME PRICES

Value Range
> $1,078,000 0.0
$808,001 - $1,078,000 0.1
$539,001 - $808,000 0.7
$431,001 - $539,000 0.5
$323,001 - $431,000 3.1
$216,001 - $323,000 12.5
$108,001 - $216,000 51.1
$54,001 - $108,000 23.4
$0 - $54,000 8.5

Average for OH
Average for Nation

Value Relative to Nation Value Relative to State
54.5880698464784 44.4881889763779

Number Of Homes And Apartments:
10,838

Wooster 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
7.81% 0.44% 5 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$919 / per month

Homeownership Rate

Homeownership
Owners 49.64
Renters 50.36
Vacant 8.82

Housing Market Details

 

Age of Homes

AGE OF Wooster HOMES
2000 or Newer 11.9
1970 - 1999 40.1
1940 - 1969 28.3
1939 or Older 19.7

Types of Homes

TYPE OF Wooster HOMES
Single-Family 54.5
Townhomes 6.9
Small Apt. Buildings 16.7
Apt. Complexes 17.6
Mobile Homes 4.2
Other 0.0

Home Size

SIZE OF Wooster HOMES
No Bedroom 3.14
1 Bedroom 12.02
2 Bedrooms 31.16
3 Bedrooms 37.20
4 Bedrooms 14.42
5 or more bedrooms 2.06