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 27,031 people, 10,969 houses or apartments, and a median cost of homes of $279,567, Wooster real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Wooster, accounting for 61.34% of the city's housing units. Other types of housing that are prevalent in Wooster include large apartment complexes or high rise apartments ( 15.61%), duplexes, homes converted to apartments or other small apartment buildings ( 12.36%), and a few row houses and other attached homes ( 6.67%).
The most prevalent building size and type in Wooster are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.84% owning and 46.16% renting.
There is a lot of housing in Wooster 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 Wooster built between 1940-1969 ( 29.67%). A lesser amount of the housing stock also hails from before 1939 ( 16.25%). There's also some housing in Wooster built between 2000 and later ( 16.23%).
Appreciation rates for homes in Wooster have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 96.36%, which ranks in the top 40% nationwide. This equates to an annual average Wooster house appreciation rate of 6.98%.
Appreciation rates are so strong in Wooster that despite a nationwide downturn in the housing market, Wooster real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wooster appreciation rates continue to be some of the highest in America, at 8.73%, which is higher than appreciation rates in 78.29% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wooster. Wooster appreciation rates in the latest quarter were at 1.02%, which equates to an annual appreciation rate of 4.15%.
Relative to Ohio, our data show that Wooster'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 Wooster differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wooster - 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 Wooster real estate investment or home purchase decisions.
$279,567
for Ohio
for nation
10,969
$1,302 / per month