Gahanna, OH Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Gahanna, OH Housing Market Trends

With 35,483 people, 13,506 houses or apartments, and a median cost of homes of $267,679, Gahanna real estate is some of the most expensive in Ohio, although Gahanna home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Gahanna, accounting for 68.38% of the city's housing units. Other types of housing that are prevalent in Gahanna include large apartment complexes or high rise apartments ( 13.46%), duplexes, homes converted to apartments or other small apartment buildings ( 9.92%), and a few row houses and other attached homes ( 7.69%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Gahanna. Owner-occupied housing accounts for 73.49% of Gahanna's homes, and 69.56% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Gahanna 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 Gahanna built between 1940-1969 ( 22.41%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.95%). There's also some housing in Gahanna built before 1939 ( 1.61%).

Gahanna Home Appreciation Rates

In the last 10 years, Gahanna has experienced some of the highest home appreciation rates of any community in the nation. Gahanna real estate appreciated 54.05% over the last ten years, which is an average annual home appreciation rate of 4.42%, putting Gahanna in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Gahanna definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Gahanna that despite a nationwide downturn in the housing market, Gahanna real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Gahanna appreciation rates continue to be some of the highest in America, at 6.57%, which is higher than appreciation rates in 77.37% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Gahanna. Gahanna appreciation rates in the latest quarter were at 2.54%, which equates to an annual appreciation rate of 10.57%.

Relative to Ohio, our data show that Gahanna's latest annual appreciation rate is higher than 60% 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 Gahanna differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Gahanna - 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 Gahanna real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$267,679

Gahanna, OH HOME PRICES

> $1,237,000
0.5%
0.5%
$927,001 - $1,237,000
0.1%
0.1%
$619,001 - $927,000
1.1%
1.1%
$495,001 - $619,000
4.0%
4.0%
$371,001 - $495,000
13.8%
13.8%
$247,001 - $371,000
35.8%
35.8%
$124,001 - $247,000
41.6%
41.6%
$62,001 - $124,000
2.1%
2.1%
$0 - $62,000
0.9%
0.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for OH

Value Relative To Nation

Number Of Homes And Apartments:
13,506

Gahanna Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
67.60% 2.49%
10
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,380 / per month

Homeownership Rate

Owners
73.5%
73.5%
Renters
26.5%
26.5%
Vacant
2.8%
2.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
14.0%
14.0%
1970 - 1999
62.0%
62.0%
1940 - 1969
22.4%
22.4%
1939 or Older
1.6%
1.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
68.4%
68.4%
Townhomes
7.7%
7.7%
Small Apt. Buildings
9.9%
9.9%
Apt. Complexes
13.5%
13.5%
Mobile Homes
0.5%
0.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.6%
0.6%
1 Bedroom
6.2%
6.2%
2 Bedrooms
20.2%
20.2%
3 Bedrooms
36.7%
36.7%
4 Bedrooms
32.9%
32.9%
5 or more bedrooms
3.5%
3.5%
0.0% 100.0%
% OF HOMES