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 10,564, 4,983 total housing units (homes and apartments), and a median house value of $215,002, house prices in Richmond Heights are solidly below the national average.
Single-family detached homes are the single most common housing type in Richmond Heights, accounting for 58.94% of the city's housing units. Other types of housing that are prevalent in Richmond Heights include large apartment complexes or high rise apartments ( 35.15%), row houses and other attached homes ( 4.80%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.11%).
The most prevalent building size and type in Richmond Heights are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.83% owning and 39.17% renting.
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. Richmond Heights's housing was primarily built during this period, from the '40s through the '60s. A full 56.33% of the city's housing hails from this era. Other housing ages represented in Richmond Heights include homes built between 1970-1999 ( 28.38%) and housing constructed between 2000 and later ( 12.43%). There's also some housing in Richmond Heights built before 1939 ( 2.87%).
Richmond Heights's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Richmond Heights during the period has been just 4.75%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Richmond Heights's appreciation rate, at 7.34%, has been at or slightly above the national average. In the latest quarter, Richmond Heights's appreciation rate has been 0.89%, which annualizes to a rate of 3.60%.
Relative to Ohio, our data show that Richmond Heights's latest annual appreciation rate is lower than 50% of the other cities and towns in Ohio.
$215,002
for Ohio
for nation
4,983
$1,912 / per month