New Albany, 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

New Albany, OH Housing Market Trends

With a population of 10,933, 3,242 total housing units (homes and apartments), and a median house value of $699,824, New Albany house prices are not only among the most expensive in Ohio, New Albany real estate also is some of the most expensive in all of America.

New Albany is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in New Albany than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New Albany. Owner-occupied housing accounts for 92.38% of New Albany's homes, and 69.47% have either three or four bedrooms, which is average sized relative to America.

New Albany homes and real estate are some of the newest in America. 64.19% of New Albany's housing was built since 2000, making the village have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the New Albany real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 29.62%), and between 1940-1969 ( 4.37%). There's also some housing in New Albany built before 1939 ( 1.83%).

New Albany Home Appreciation Rates

In the last 10 years, New Albany has experienced some of the highest home appreciation rates of any community in the nation. New Albany real estate appreciated 59.36% over the last ten years, which is an average annual home appreciation rate of 4.77%, putting New Albany in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, New Albany definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in New Albany that despite a nationwide downturn in the housing market, New Albany real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New Albany appreciation rates continue to be some of the highest in America, at 6.54%, which is higher than appreciation rates in 76.33% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in New Albany. New Albany appreciation rates in the latest quarter were at 2.52%, which equates to an annual appreciation rate of 10.47%.

Relative to Ohio, our data show that New Albany's latest annual appreciation rate is higher than 60% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$699,824

New Albany, OH HOME PRICES

> $1,237,000
8.3%
8.3%
$928,001 - $1,237,000
9.3%
9.3%
$618,001 - $928,000
22.7%
22.7%
$495,001 - $618,000
20.0%
20.0%
$371,001 - $495,000
22.5%
22.5%
$248,001 - $371,000
12.7%
12.7%
$123,001 - $248,000
3.0%
3.0%
$62,001 - $123,000
0.6%
0.6%
$0 - $62,000
0.8%
0.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for OH

Value Relative To Nation

Number Of Homes And Apartments:
3,242

New Albany 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
81.36% 2.88%
10
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,677 / per month

Homeownership Rate

Owners
92.4%
92.4%
Renters
7.6%
7.6%
Vacant
4.4%
4.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
64.2%
64.2%
1970 - 1999
29.6%
29.6%
1940 - 1969
4.4%
4.4%
1939 or Older
1.8%
1.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
93.4%
93.4%
Townhomes
3.5%
3.5%
Small Apt. Buildings
2.0%
2.0%
Apt. Complexes
0.0%
0.0%
Mobile Homes
0.5%
0.5%
Other
0.6%
0.6%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.3%
0.3%
1 Bedroom
0.0%
0.0%
2 Bedrooms
5.4%
5.4%
3 Bedrooms
28.4%
28.4%
4 Bedrooms
41.0%
41.0%
5 or more bedrooms
24.9%
24.9%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in New Albany

Zip Codes in New Albany, OH