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 19,878 people, 7,828 houses or apartments, and a median cost of homes of $228,363, house prices in Forest Park are solidly below the national average.
Single-family detached homes are the single most common housing type in Forest Park, accounting for 66.90% of the city's housing units. Other types of housing that are prevalent in Forest Park include large apartment complexes or high rise apartments ( 25.64%), duplexes, homes converted to apartments or other small apartment buildings ( 5.82%), and a few row houses and other attached homes ( 1.12%).
The most prevalent building size and type in Forest Park are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.84% owning and 43.16% 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. Forest Park's housing was primarily built during this period, from the '40s through the '60s. A full 48.06% of the city's housing hails from this era. Other housing ages represented in Forest Park include homes built between 1970-1999 ( 46.41%) and housing constructed between 2000 and later ( 5.09%).
In the last 10 years, Forest Park has experienced some of the highest home appreciation rates of any community in the nation. Forest Park real estate appreciated 130.77% over the last ten years, which is an average annual home appreciation rate of 8.72%, putting Forest Park in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Forest Park definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Forest Park's appreciation rate, at 7.23%, has been at or slightly above the national average. In the latest quarter, Forest Park's appreciation rate has been 1.53%, which annualizes to a rate of 6.27%.
Relative to Ohio, our data show that Forest Park's latest annual appreciation rate is lower than 50% of the other cities and towns in Ohio.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Forest Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Forest Park - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Forest Park real estate investment or home purchase decisions.
$228,363
for Ohio
for nation
7,828
$1,994 / per month