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 7,090 people, 3,581 houses or apartments, and a median cost of homes of $211,848, house prices in Mentor-on-the-Lake are solidly below the national average.
Single-family detached homes are the single most common housing type in Mentor-on-the-Lake, accounting for 62.36% of the city's housing units. Other types of housing that are prevalent in Mentor-on-the-Lake include large apartment complexes or high rise apartments ( 32.33%), row houses and other attached homes ( 4.05%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.26%).
The most prevalent building size and type in Mentor-on-the-Lake are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.89% owning and 40.11% renting.
There is a lot of housing in Mentor-on-the-Lake 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 Mentor-on-the-Lake built between 1940-1969 ( 30.56%). A lesser amount of the housing stock also hails from before 1939 ( 7.23%). There's also some housing in Mentor-on-the-Lake built between 2000 and later ( 3.79%).
Mentor-on-the-Lake's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mentor-on-the-Lake during the period has been just 5.14%, which is lower than 80% of US communities.
Over the last year, Mentor-on-the-Lake appreciation rates have trailed the rest of the nation. In the last twelve months, Mentor-on-the-Lake's appreciation rate has been 4.71%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mentor-on-the-Lake were at 0.89%, which equates to an annual appreciation rate of 3.60%.
Relative to Ohio, our data show that Mentor-on-the-Lake's latest annual appreciation rate is lower than 70% of the other cities and towns in Ohio.
$211,848
for Ohio
for nation
3,581
$1,582 / per month