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 957 people, 287 houses or apartments, and a median cost of homes of $153,738, house prices in Andover are some of the most affordable in Ohio as well as the nation.
Single-family detached homes are the single most common housing type in Andover, accounting for 67.71% of the village's housing units. Other types of housing that are prevalent in Andover include duplexes, homes converted to apartments or other small apartment buildings ( 15.58%), large apartment complexes or high rise apartments ( 13.03%), and a few mobile homes or trailers ( 1.98%).
The most prevalent building size and type in Andover are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 54.64% owning and 45.36% 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. Andover's housing was primarily built during this period, from the '40s through the '60s. A full 36.83% of the village's housing hails from this era. Other housing ages represented in Andover include homes built before 1939 ( 32.86%) and housing constructed between 1970-1999 ( 30.31%).
Vacant housing appears to be an issue in Andover. Fully 18.70% of the housing stock is classified as vacant. Left unchecked, vacant Andover homes and apartments can be a drag on the real estate market, holding Andover 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 Andover have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 91.11%, which ranks in the top 50% nationwide. This equates to an annual average Andover house appreciation rate of 6.69%.
Appreciation rates are so strong in Andover that despite a nationwide downturn in the housing market, Andover real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Andover appreciation rates continue to be some of the highest in America, at 8.70%, which is higher than appreciation rates in 78.01% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Andover. Andover appreciation rates in the latest quarter were at 1.02%, which equates to an annual appreciation rate of 4.15%.
Relative to Ohio, our data show that Andover's latest annual appreciation rate is higher than 60% of the other cities and towns in Ohio.
$153,738
for Ohio
for nation
287
$1,181 / per month