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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.



North Olmsted, 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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

North Olmsted, OH Housing Market Trends

With 31,724 people, 13,140 houses or apartments, and a median cost of homes of $247,722, North Olmsted 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 North Olmsted, accounting for 71.25% of the city's housing units. Other types of housing that are prevalent in North Olmsted include large apartment complexes or high rise apartments ( 19.00%), row houses and other attached homes ( 7.05%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.32%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in North Olmsted. Owner-occupied housing accounts for 76.33% of North Olmsted's homes, and 65.72% 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. North Olmsted's housing was primarily built during this period, from the '40s through the '60s. A full 61.18% of the city's housing hails from this era. Other housing ages represented in North Olmsted include homes built between 1970-1999 ( 31.20%) and housing constructed before 1939 ( 4.18%). There's also some housing in North Olmsted built between 2000 and later ( 3.44%).

North Olmsted Home Appreciation Rates

Appreciation rates for homes in North Olmsted have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 88.75%, which ranks in the top 50% nationwide. This equates to an annual average North Olmsted house appreciation rate of 6.56%.

NeighborhoodScout's data show that during the latest twelve months, North Olmsted's appreciation rate, at 5.03%, has been at or slightly above the national average. In the latest quarter, North Olmsted's appreciation rate has been -0.78%, which annualizes to a rate of -3.07%.

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

Relative to Ohio, our data show that North Olmsted's latest annual appreciation rate is lower than 80% 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 North Olmsted differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in North Olmsted - 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 North Olmsted real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$247,722

North Olmsted, OH Home Prices
> $1,274,000
$955,001 - $1,274,000
$636,001 - $955,000
$509,001 - $636,000
$382,001 - $509,000
$255,001 - $382,000
$127,001 - $255,000
$64,001 - $127,000
$0 - $64,000
0.3%
0.3%
0.1%
0.1%
0.7%
0.7%
0.8%
0.8%
5.0%
5.0%
36.7%
36.7%
46.8%
46.8%
7.0%
7.0%
2.7%
2.7%
0% 100.0%
% of Homes
High

for Ohio

Average

for nation

Number of Homes And Apartments:

13,140

North Olmsted Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,700 / per month

Homeownership Rate

Owners
Renters
76.3%
76.3%
23.7%
23.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
3.2%
3.2%
96.8%
96.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
3.4%
3.4%
31.2%
31.2%
61.2%
61.2%
4.2%
4.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
71.3%
71.3%
7.0%
7.0%
2.3%
2.3%
19.0%
19.0%
0.3%
0.3%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.5%
0.5%
6.4%
6.4%
23.7%
23.7%
43.4%
43.4%
22.3%
22.3%
3.7%
3.7%
0% 100.0%
% of Homes