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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Shaker Heights, 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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Shaker Heights, OH Housing Market Trends

With a population of 28,723, 12,826 total housing units (homes and apartments), and a median house value of $391,727, Shaker Heights real estate is some of the most expensive in Ohio, although Shaker Heights home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Shaker Heights, accounting for 54.04% of the city's housing units. Other types of housing that are prevalent in Shaker Heights include large apartment complexes or high rise apartments ( 33.02%), duplexes, homes converted to apartments or other small apartment buildings ( 9.50%), and a few row houses and other attached homes ( 3.44%).

The most prevalent building size and type in Shaker Heights are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.16% owning and 40.84% 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. Shaker Heights's housing was primarily built during this period, from the '40s through the '60s. A full 44.91% of the city's housing hails from this era. Other housing ages represented in Shaker Heights include homes built before 1939 ( 43.63%) and housing constructed between 1970-1999 ( 7.88%). There's also some housing in Shaker Heights built between 2000 and later ( 3.58%).

Shaker Heights Home Appreciation Rates

Shaker Heights's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Shaker Heights during the period has been just 5.12%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Shaker Heights's appreciation rate, at 5.03%, has been at or slightly above the national average. In the latest quarter, Shaker Heights's appreciation rate has been -0.78%, which annualizes to a rate of -3.07%.

Notably, Shaker Heights's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Ohio, our data show that Shaker Heights's latest annual appreciation rate is lower than 80% 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 Shaker Heights differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Shaker Heights - 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 Shaker Heights real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$391,727

Shaker Heights, OH Home Prices
> $1,293,000
$970,001 - $1,293,000
$646,001 - $970,000
$517,001 - $646,000
$388,001 - $517,000
$259,001 - $388,000
$129,001 - $259,000
$65,001 - $129,000
$0 - $65,000
1.3%
1.3%
3.7%
3.7%
11.8%
11.8%
8.3%
8.3%
17.4%
17.4%
26.1%
26.1%
20.6%
20.6%
6.8%
6.8%
4.1%
4.1%
0% 100.0%
% of Homes
Very High

for Ohio

High

for nation

Number of Homes And Apartments:

12,826

Shaker Heights Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,763 / per month

Homeownership Rate

Owners
Renters
59.2%
59.2%
40.8%
40.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
8.6%
8.6%
91.4%
91.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
3.6%
3.6%
7.9%
7.9%
44.9%
44.9%
43.6%
43.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
54.0%
54.0%
3.4%
3.4%
9.5%
9.5%
33.0%
33.0%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.3%
2.3%
9.6%
9.6%
27.1%
27.1%
23.2%
23.2%
23.4%
23.4%
14.5%
14.5%
0% 100.0%
% of Homes