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 3,951 people, 1,782 houses or apartments, and a median cost of homes of $201,615, house prices in Mineral Ridge are solidly below the national average.
Single-family detached homes are the single most common housing type in Mineral Ridge, accounting for 80.75% of the town's housing units. Other types of housing that are prevalent in Mineral Ridge include duplexes, homes converted to apartments or other small apartment buildings ( 8.45%), large apartment complexes or high rise apartments ( 7.45%), and a few row houses and other attached homes ( 3.36%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mineral Ridge. Owner-occupied housing accounts for 72.59% of Mineral Ridge's homes, and 67.42% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Mineral Ridge 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 Mineral Ridge built between 1940-1969 ( 33.84%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.97%). There's also some housing in Mineral Ridge built before 1939 ( 6.77%).
Real estate appreciation rates in Mineral Ridge's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.32% during the period.
Appreciation rates are so strong in Mineral Ridge that despite a nationwide downturn in the housing market, Mineral Ridge real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mineral Ridge appreciation rates continue to be some of the highest in America, at 8.17%, which is higher than appreciation rates in 71.94% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mineral Ridge. Mineral Ridge appreciation rates in the latest quarter were at 2.48%, which equates to an annual appreciation rate of 10.29%.
Relative to Ohio, our data show that Mineral Ridge's latest annual appreciation rate is higher than 50% of the other cities and towns in Ohio.
$201,615
for Ohio
for nation
1,782
$1,233 / per month