The housing market in Sheffield Lake, OH (44054) is experiencing a dramatic shift compared to the US average. The median value of homes in this area is $182,000, which is significantly lower than the US median of $338,100. However, the area has seen even more dramatic growth in housing appreciation over the past year. The one year house appreciation rate for Sheffield Lake was 10.26%, compared to 8.27% nationally. This means that property values have been rising quickly in this area, making it an attractive option for potential home buyers and investors alike.
The median home cost in Sheffield Lake (zip 44054) is $182,000. Home appreciation the last 10 years has been 69.3%. Home Appreciation in Sheffield Lake (zip 44054) is up 13.4%.
Average Age of Homes
- The median age of Sheffield Lake (zip 44054) real estate is 46 years old
The Rental Market in Sheffield Lake (zip 44054)
- Renters make up 22.0% of the Sheffield Lake (zip 44054) population
- 2.1% of houses and apartments in Sheffield Lake (zip 44054), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.