Canton, 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 Q4 2020. 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

Canton, OH Housing Market Trends

With a population of 70,447, 30,843 total housing units (homes and apartments), and a median house value of $69,234, house prices in Canton 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 Canton, accounting for 67.43% of the city's housing units. Other types of housing that are prevalent in Canton include large apartment complexes or high rise apartments ( 15.76%), duplexes, homes converted to apartments or other small apartment buildings ( 13.67%), and a few row houses and other attached homes ( 2.66%).

The most prevalent building size and type in Canton are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 46.11% owning and 53.89% renting.

The housing in Canton was primarily built before 1939 ( 41.39%), making the housing stock in Canton some of the oldest overall in America, although there is a range of ages of homes in Canton. The next most important housing age is between 1940-1969 ( 38.59%), followed by between 1970-1999 ( 16.66%). There's also some housing in Canton built between 2000 and later ( 3.35%).

Vacant housing appears to be an issue in Canton. Fully 12.72% of the housing stock is classified as vacant. Left unchecked, vacant Canton homes and apartments can be a drag on the real estate market, holding Canton 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.

Canton Home Appreciation Rates

Canton's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Canton during the period has been just 1.61%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Canton's appreciation rate, at 5.52%, has been at or slightly above the national average. In the latest quarter, Canton's appreciation rate has been 2.51%, which annualizes to a rate of 10.41%.

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

Average Home Values

 

Median Home Value:
$69,234

Canton, OH HOME PRICES

> $1,152,000
0.1%
0.1%
$864,001 - $1,152,000
0.0%
0.0%
$576,001 - $864,000
0.5%
0.5%
$461,001 - $576,000
0.4%
0.4%
$346,001 - $461,000
0.8%
0.8%
$231,001 - $346,000
2.7%
2.7%
$115,001 - $231,000
20.4%
20.4%
$57,001 - $115,000
42.8%
42.8%
$0 - $57,000
32.3%
32.3%
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:
30,843

Canton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
7.73% 0.36%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$872 / per month

Homeownership Rate

Owners
46.1%
46.1%
Renters
53.9%
53.9%
Vacant
12.7%
12.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
3.4%
3.4%
1970 - 1999
16.7%
16.7%
1940 - 1969
38.6%
38.6%
1939 or Older
41.4%
41.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
67.4%
67.4%
Townhomes
2.7%
2.7%
Small Apt. Buildings
13.7%
13.7%
Apt. Complexes
15.8%
15.8%
Mobile Homes
0.5%
0.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.6%
2.6%
1 Bedroom
13.8%
13.8%
2 Bedrooms
27.9%
27.9%
3 Bedrooms
44.0%
44.0%
4 Bedrooms
9.6%
9.6%
5 or more bedrooms
2.1%
2.1%
0.0% 100.0%
% OF HOMES