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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 44,201 people, 19,462 houses or apartments, and a median cost of homes of $256,458, Cleveland Heights 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 Cleveland Heights, accounting for 62.74% of the city's housing units. Other types of housing that are prevalent in Cleveland Heights include large apartment complexes or high rise apartments ( 22.65%), duplexes, homes converted to apartments or other small apartment buildings ( 9.88%), and a few row houses and other attached homes ( 4.64%).
The most prevalent building size and type in Cleveland Heights are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.51% owning and 42.49% renting.
The housing in Cleveland Heights was primarily built before 1939 ( 56.64%), making the housing stock in Cleveland Heights some of the oldest overall in America, although there is a range of ages of homes in Cleveland Heights. The next most important housing age is between 1940-1969 ( 31.40%), followed by between 1970-1999 ( 9.82%). There's also some housing in Cleveland Heights built between 2000 and later ( 2.14%).
Vacant housing appears to be an issue in Cleveland Heights. Fully 10.28% of the housing stock is classified as vacant. Left unchecked, vacant Cleveland Heights homes and apartments can be a drag on the real estate market, holding Cleveland Heights 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.
Appreciation rates for homes in Cleveland Heights have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 90.49%, which ranks in the top 50% nationwide. This equates to an annual average Cleveland Heights house appreciation rate of 6.66%.
NeighborhoodScout's data show that during the latest twelve months, Cleveland Heights's appreciation rate, at 7.44%, has been at or slightly above the national average. In the latest quarter, Cleveland Heights's appreciation rate has been 0.89%, which annualizes to a rate of 3.60%.
Relative to Ohio, our data show that Cleveland Heights's latest annual appreciation rate is higher than 50% 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 Cleveland Heights differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cleveland 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 Cleveland Heights real estate investment or home purchase decisions.
$256,458
for Ohio
for nation
19,462
$1,758 / per month