Westerville, 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 Q2 2021. 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

Westerville, OH Housing Market Trends

With 41,103 people, 14,566 houses or apartments, and a median cost of homes of $286,759, Westerville real estate is some of the most expensive in Ohio, although Westerville home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Westerville, accounting for 70.19% of the city's housing units. Other types of housing that are prevalent in Westerville include large apartment complexes or high rise apartments ( 15.00%), row houses and other attached homes ( 10.39%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.19%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Westerville. Owner-occupied housing accounts for 73.70% of Westerville's homes, and 68.13% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Westerville 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 Westerville built between 1940-1969 ( 17.58%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.68%). There's also some housing in Westerville built before 1939 ( 6.00%).

Westerville Home Appreciation Rates

Appreciation rates for homes in Westerville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 63.19%, which ranks in the top 30% nationwide. This equates to an annual average Westerville house appreciation rate of 5.02%.

NeighborhoodScout's data show that during the latest twelve months, Westerville's appreciation rate, at 9.61%, has been at or slightly above the national average. In the latest quarter, Westerville's appreciation rate has been 2.72%, which annualizes to a rate of 11.33%.

Relative to Ohio, our data show that Westerville'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 Westerville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Westerville - 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 Westerville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$286,759

Westerville, OH HOME PRICES

> $1,295,000
0.1%
0.1%
$972,001 - $1,295,000
0.2%
0.2%
$648,001 - $972,000
0.5%
0.5%
$518,001 - $648,000
2.9%
2.9%
$389,001 - $518,000
17.9%
17.9%
$259,001 - $389,000
42.9%
42.9%
$129,001 - $259,000
28.4%
28.4%
$65,001 - $129,000
6.2%
6.2%
$0 - $65,000
0.8%
0.8%
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:
14,566

Westerville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
79.82% 2.77%
10
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,487 / per month

Homeownership Rate

Owners
73.7%
73.7%
Renters
26.3%
26.3%
Vacant
4.5%
4.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
15.7%
15.7%
1970 - 1999
60.7%
60.7%
1940 - 1969
17.6%
17.6%
1939 or Older
6.0%
6.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
70.2%
70.2%
Townhomes
10.4%
10.4%
Small Apt. Buildings
4.2%
4.2%
Apt. Complexes
15.0%
15.0%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.5%
1.5%
1 Bedroom
5.9%
5.9%
2 Bedrooms
21.1%
21.1%
3 Bedrooms
32.8%
32.8%
4 Bedrooms
35.3%
35.3%
5 or more bedrooms
3.5%
3.5%
0.0% 100.0%
% OF HOMES