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 979 people, 213 houses or apartments, and a median cost of homes of $321,641, Hiram real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Hiram, accounting for 74.48% of the village's housing units. Other types of housing that are prevalent in Hiram include large apartment complexes or high rise apartments ( 17.15%), row houses and other attached homes ( 5.02%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.35%).
Renters dominate Hiram's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.
The housing in Hiram was primarily built before 1939 ( 42.68%), making the housing stock in Hiram some of the oldest overall in America, although there is a range of ages of homes in Hiram. The next most important housing age is between 1940-1969 ( 31.80%), followed by between 1970-1999 ( 22.18%). There's also some housing in Hiram built between 2000 and later ( 3.35%).
Vacant housing appears to be an issue in Hiram. Fully 10.88% of the housing stock is classified as vacant. Left unchecked, vacant Hiram homes and apartments can be a drag on the real estate market, holding Hiram 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.
Hiram's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hiram during the period has been just 4.86%, which is lower than 80% of US communities.
Over the last year, Hiram appreciation rates have trailed the rest of the nation. In the last twelve months, Hiram's appreciation rate has been -0.14%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hiram were at 1.45%, which equates to an annual appreciation rate of 5.93%.
Relative to Ohio, our data show that Hiram's latest annual appreciation rate is lower than 90% of the other cities and towns in Ohio.
$321,641
for Ohio
for nation
213
$1,238 / per month