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 9,954 people, 5,113 houses or apartments, and a median cost of homes of $368,591, Willoughby Hills real estate prices are well above average cost compared to national prices.
Large apartment complexes or high rise apartments are the single most common housing type in Willoughby Hills, accounting for 54.77% of the city's housing units. Other types of housing that are prevalent in Willoughby Hills include single-family detached homes ( 41.90%), row houses and other attached homes ( 2.35%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.
People in Willoughby Hills primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Willoughby Hills has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Willoughby Hills built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Willoughby Hills built between 1940-1969 ( 34.02%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.23%). There's also some housing in Willoughby Hills built before 1939 ( 7.26%).
Willoughby Hills's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Willoughby Hills during the period has been just 5.59%, which is lower than 70% of US communities.
Appreciation rates are so strong in Willoughby Hills that despite a nationwide downturn in the housing market, Willoughby Hills real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Willoughby Hills appreciation rates continue to be some of the highest in America, at 11.19%, which is higher than appreciation rates in 91.04% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Willoughby Hills. Willoughby Hills appreciation rates in the latest quarter were at 2.15%, which equates to an annual appreciation rate of 8.89%.
Relative to Ohio, our data show that Willoughby Hills's latest annual appreciation rate is higher than 90% of the other cities and towns in Ohio.
$368,591
for Ohio
for nation
5,113
$1,547 / per month