Shaker Heights, 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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

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

Shaker Heights, OH Housing Market Trends

With a population of 29,439, 11,505 total housing units (homes and apartments), and a median house value of $354,463, Shaker Heights real estate is some of the most expensive in Ohio, although Shaker Heights home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Shaker Heights, accounting for 53.16% of the city's housing units. Other types of housing that are prevalent in Shaker Heights include large apartment complexes or high rise apartments ( 32.32%), duplexes, homes converted to apartments or other small apartment buildings ( 10.81%), and a few row houses and other attached homes ( 3.52%).

The most prevalent building size and type in Shaker Heights are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.95% owning and 40.05% renting.

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. Shaker Heights's housing was primarily built during this period, from the '40s through the '60s. A full 47.38% of the city's housing hails from this era. Other housing ages represented in Shaker Heights include homes built before 1939 ( 41.94%) and housing constructed between 1970-1999 ( 7.80%). There's also some housing in Shaker Heights built between 2000 and later ( 2.88%).

Shaker Heights Home Appreciation Rates

Real estate appreciation rates in Shaker Heights's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 4.48% during the period.

NeighborhoodScout's data show that during the latest twelve months, Shaker Heights's appreciation rate, at 17.58%, has been at or slightly above the national average. In the latest quarter, Shaker Heights's appreciation rate has been 6.91%, which annualizes to a rate of 30.63%.

Relative to Ohio, our data show that Shaker Heights'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 Shaker Heights differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Shaker Heights - 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 Shaker Heights real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$354,463

Shaker Heights, OH HOME PRICES

> $1,348,000
$1,011,001 - $1,348,000
$674,001 - $1,011,000
$539,001 - $674,000
$404,001 - $539,000
$270,001 - $404,000
$135,001 - $270,000
$68,001 - $135,000
$0 - $68,000
1.0%
1.0%
2.6%
2.6%
8.3%
8.3%
7.7%
7.7%
13.6%
13.6%
25.2%
25.2%
27.8%
27.8%
8.9%
8.9%
4.8%
4.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for OH

Value Relative To Nation

Number Of Homes And Apartments:
11,505

Shaker Heights Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
47.51% 1.78%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,443 / per month

Homeownership Rate

Owners
Renters
Vacant
59.9%
59.9%
40.1%
40.1%
9.7%
9.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
2.9%
2.9%
7.8%
7.8%
47.4%
47.4%
41.9%
41.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
53.2%
53.2%
3.5%
3.5%
10.8%
10.8%
32.3%
32.3%
0.2%
0.2%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.7%
2.7%
10.1%
10.1%
24.7%
24.7%
23.5%
23.5%
24.6%
24.6%
14.3%
14.3%
0.0% 100.0%
% OF HOMES