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 a population of 10,776, 6,116 total housing units (homes and apartments), and a median house value of $170,663, house prices in Bedford Heights are solidly below the national average.
Large apartment complexes or high rise apartments are the single most common housing type in Bedford Heights, accounting for 44.71% of the city's housing units. Other types of housing that are prevalent in Bedford Heights include single-family detached homes ( 42.86%), mobile homes or trailers ( 7.64%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.79%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
People in Bedford Heights primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Bedford Heights has a mixture of owner-occupied and renter-occupied housing.
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. Bedford Heights's housing was primarily built during this period, from the '40s through the '60s. A full 57.43% of the city's housing hails from this era. Other housing ages represented in Bedford Heights include homes built between 1970-1999 ( 30.91%) and housing constructed between 2000 and later ( 7.19%). There's also some housing in Bedford Heights built before 1939 ( 4.46%).
Appreciation rates for homes in Bedford 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 99.02%, which ranks in the top 40% nationwide. This equates to an annual average Bedford Heights house appreciation rate of 7.13%.
Appreciation rates are so strong in Bedford Heights that despite a nationwide downturn in the housing market, Bedford Heights real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bedford Heights appreciation rates continue to be some of the highest in America, at 8.20%, which is higher than appreciation rates in 72.27% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bedford Heights. Bedford Heights appreciation rates in the latest quarter were at 0.89%, which equates to an annual appreciation rate of 3.60%.
Relative to Ohio, our data show that Bedford Heights's latest annual appreciation rate is higher than 50% of the other cities and towns in Ohio.
$170,663
for Ohio
for nation
6,116
$1,463 / per month