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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.



Vermilion, 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

Vermilion, OH Housing Market Trends

With 10,694 people, 1,796 houses or apartments, and a median cost of homes of $200,814, house prices in Vermilion are solidly below the national average.

Single-family detached homes are the single most common housing type in Vermilion, accounting for 89.43% of the city's housing units. Other types of housing that are prevalent in Vermilion include duplexes, homes converted to apartments or other small apartment buildings ( 4.28%), large apartment complexes or high rise apartments ( 3.84%), and a few row houses and other attached homes ( 2.45%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Vermilion. Owner-occupied housing accounts for 78.76% of Vermilion's homes, and 78.33% 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. Vermilion's housing was primarily built during this period, from the '40s through the '60s. A full 43.08% of the city's housing hails from this era. Other housing ages represented in Vermilion include homes built before 1939 ( 26.30%) and housing constructed between 1970-1999 ( 24.51%). There's also some housing in Vermilion built between 2000 and later ( 6.12%).

Vacant housing appears to be an issue in Vermilion. Fully 21.54% of the housing stock is classified as vacant. Left unchecked, vacant Vermilion homes and apartments can be a drag on the real estate market, holding Vermilion 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.

Vermilion Home Appreciation Rates

Real estate appreciation rates in Vermilion's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.48% during the period.

NeighborhoodScout's data show that during the latest twelve months, Vermilion's appreciation rate, at 5.51%, has been at or slightly above the national average. In the latest quarter, Vermilion's appreciation rate has been 0.00%, which annualizes to a rate of -0.10%.

Relative to Ohio, our data show that Vermilion's latest annual appreciation rate is lower than 80% of the other cities and towns in Ohio.

Average Home Values

Median Home Value

$200,814

Vermilion, OH Home Prices
> $1,238,000
$928,001 - $1,238,000
$619,001 - $928,000
$495,001 - $619,000
$372,001 - $495,000
$248,001 - $372,000
$124,001 - $248,000
$62,001 - $124,000
$0 - $62,000
0.8%
0.8%
2.3%
2.3%
3.3%
3.3%
5.8%
5.8%
7.5%
7.5%
15.9%
15.9%
51.8%
51.8%
8.9%
8.9%
3.6%
3.6%
0% 100.0%
% of Homes
Low

for Ohio

Low

for nation

Number of Homes And Apartments:

1,796

Vermilion Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,596 / per month

Homeownership Rate

Owners
Renters
78.8%
78.8%
21.2%
21.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
21.5%
21.5%
78.5%
78.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
6.1%
6.1%
24.5%
24.5%
43.1%
43.1%
26.3%
26.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
89.4%
89.4%
2.4%
2.4%
4.3%
4.3%
3.8%
3.8%
0.0%
0.0%
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
1.1%
1.1%
2.3%
2.3%
13.6%
13.6%
58.6%
58.6%
19.7%
19.7%
4.7%
4.7%
0% 100.0%
% of Homes