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 3,699 people, 1,569 houses or apartments, and a median cost of homes of $390,851, Richfield real estate is some of the most expensive in Ohio, although Richfield home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Richfield, accounting for 75.31% of the village's housing units. Other types of housing that are prevalent in Richfield include duplexes, homes converted to apartments or other small apartment buildings ( 16.99%), row houses and other attached homes ( 5.38%), and a few large apartment complexes or high rise apartments ( 2.32%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Richfield. Owner-occupied housing accounts for 85.44% of Richfield's homes, and 62.29% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Richfield 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 Richfield built between 1940-1969 ( 36.55%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.03%). There's also some housing in Richfield built before 1939 ( 7.95%).
Real estate appreciation rates in Richfield's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.94% during the period.
Appreciation rates are so strong in Richfield that despite a nationwide downturn in the housing market, Richfield real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Richfield appreciation rates continue to be some of the highest in America, at 9.13%, which is higher than appreciation rates in 81.69% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Richfield. Richfield appreciation rates in the latest quarter were at 1.45%, which equates to an annual appreciation rate of 5.93%.
Relative to Ohio, our data show that Richfield's latest annual appreciation rate is higher than 70% of the other cities and towns in Ohio.
$390,851
for Ohio
for nation
1,569
$1,839 / per month