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 8,589 people, 3,517 houses or apartments, and a median cost of homes of $178,978, house prices in Cheviot are solidly below the national average.
Single-family detached homes are the single most common housing type in Cheviot, accounting for 58.01% of the city's housing units. Other types of housing that are prevalent in Cheviot include duplexes, homes converted to apartments or other small apartment buildings ( 23.69%), large apartment complexes or high rise apartments ( 17.63%).
People in Cheviot primarily live in small (one, two or no bedroom) single-family detached homes. Cheviot has a mixture of owner-occupied and renter-occupied housing.
The housing in Cheviot was primarily built before 1939 ( 45.71%), making the housing stock in Cheviot some of the oldest overall in America, although there is a range of ages of homes in Cheviot. The next most important housing age is between 1940-1969 ( 38.01%), followed by between 1970-1999 ( 15.84%).
Vacant housing appears to be an issue in Cheviot. Fully 12.29% of the housing stock is classified as vacant. Left unchecked, vacant Cheviot homes and apartments can be a drag on the real estate market, holding Cheviot 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 Cheviot have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 115.26%, which ranks in the top 30% nationwide. This equates to an annual average Cheviot house appreciation rate of 7.97%.
Appreciation rates are so strong in Cheviot that despite a nationwide downturn in the housing market, Cheviot real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cheviot appreciation rates continue to be some of the highest in America, at 14.23%, which is higher than appreciation rates in 84.67% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cheviot. Cheviot appreciation rates in the latest quarter were at 3.48%, which equates to an annual appreciation rate of 14.65%.
Relative to Ohio, our data show that Cheviot's latest annual appreciation rate is higher than 70% of the other cities and towns in Ohio.
$178,978
for Ohio
for nation
3,517
$1,244 / per month