These Cleveland area cities have the fastest-growing home prices
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(Stacker) — The real estate frenzy spurred by the coronavirus pandemic continues, though at a slower pace. Buyers are still competing for a limited supply of housing, driving up prices for affordable properties.
The typical home value in the United States was $344,000 in December, 3.6% lower than the year before, but in line with seasonal trends. Increasing mortgage rates have slowed growth, with prices even declining in some places.
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But some areas are still seeing price jumps compared to the year before.
Stacker compiled a list of cities with the fastest-growing home prices in the Cleveland-Elyria, OH metro area using data from Zillow. Cities are ranked by their one-year price change as of December 2023.
30. Medina, OH
1-year price change: +$15,690 (+4.9%)
5-year price change: +$106,425 (+47.0%)
Typical home value: $332,949 (#27 most expensive city in metro)
29. Mayfield, OH
1-year price change: +$15,886 (+5.1%)
5-year price change: +$92,527 (+39.0%)
Typical home value: $329,855 (#28 most expensive city in metro)
28. Fairview Park, OH
1-year price change: +$16,105 (+7.2%)
5-year price change: +$74,941 (+45.4%)
Typical home value: $240,006 (#61 most expensive city in metro)
27. University Heights, OH
1-year price change: +$16,600 (+7.5%)
5-year price change: +$82,545 (+53.4%)
Typical home value: $237,032 (#63 most expensive city in metro)
26. Shaker Heights, OH
1-year price change: +$16,675 (+6.1%)
5-year price change: +$86,255 (+42.8%)
Typical home value: $288,020 (#39 most expensive city in metro)
25. Montville, OH
1-year price change: +$16,920 (+6.8%)
5-year price change: +$85,884 (+48.2%)
Typical home value: $264,019 (#50 most expensive city in metro)
24. Strongsville, OH
1-year price change: +$17,281 (+5.8%)
5-year price change: +$98,285 (+45.3%)
Typical home value: $315,352 (#34 most expensive city in metro)
23. Concord, OH
1-year price change: +$17,296 (+5.3%)
5-year price change: +$98,205 (+39.7%)
Typical home value: $345,745 (#23 most expensive city in metro)
22. Huntsburg, OH
1-year price change: +$18,135 (+7.0%)
5-year price change: +$87,313 (+46.1%)
Typical home value: $276,548 (#45 most expensive city in metro)
21. Orange, OH
1-year price change: +$20,160 (+4.5%)- 5-year price change: +$115,202 (+32.3%)- Typical home value: $472,011 (#8 most expensive city in metro)
20. Lakewood, OH
1-year price change: +$20,212 (+8.7%)
5-year price change: +$86,820 (+52.8%)
Typical home value: $251,222 (#55 most expensive city in metro)
19. Highland Heights, OH
1-year price change: +$20,458 (+5.9%)
5-year price change: +$100,574 (+37.3%)
Typical home value: $370,130 (#18 most expensive city in metro)
18. Westlake, OH
1-year price change: +$21,037 (+6.2%)
5-year price change: +$103,299 (+40.2%)
Typical home value: $360,060 (#19 most expensive city in metro)
17. Litchfield, OH
1-year price change: +$21,140 (+6.6%)
5-year price change: +$121,739 (+55.7%)
Typical home value: $340,302 (#26 most expensive city in metro)
16. Valley City, OH
1-year price change: +$21,229 (+5.2%)
5-year price change: +$138,959 (+48.4%)
Typical home value: $426,235 (#11 most expensive city in metro)
15. Glenwillow, OH
1-year price change: +$22,159 (+5.8%)
5-year price change: +$120,762 (+42.9%)
Typical home value: $402,571 (#14 most expensive city in metro)
14. Solon, OH
1-year price change: +$22,287 (+6.0%)
5-year price change: +$108,038 (+38.2%)
Typical home value: $391,128 (#15 most expensive city in metro)
13. Homerville, OH
1-year price change: +$22,605 (+7.4%)
5-year price change: +$116,110 (+54.4%)
Typical home value: $329,543 (#29 most expensive city in metro)
12. Brecksville, OH
1-year price change: +$23,390 (+6.7%)
5-year price change: +$108,903 (+41.0%)
Typical home value: $374,251 (#16 most expensive city in metro)
11. Hinckley, OH
1-year price change: +$23,756 (+5.6%)
5-year price change: +$137,376 (+44.2%)
Typical home value: $448,457 (#9 most expensive city in metro)
10. Rocky River, OH
1-year price change: +$25,760 (+8.2%)
5-year price change: +$103,918 (+43.8%)
Typical home value: $341,032 (#24 most expensive city in metro)
9. Bay Village, OH
1-year price change: +$25,776 (+7.8%)
5-year price change: +$103,818 (+41.4%)
Typical home value: $354,413 (#22 most expensive city in metro)
8. Chagrin Falls, OH
1-year price change: +$26,129 (+6.3%)
5-year price change: +$129,124 (+41.8%)
Typical home value: $438,106 (#10 most expensive city in metro)
7. Pepper Pike, OH
1-year price change: +$26,663 (+4.7%)
5-year price change: +$149,784 (+33.8%)
Typical home value: $593,092 (#7 most expensive city in metro)
6. Gates Mills, OH
1-year price change: +$29,752 (+4.7%)
5-year price change: +$165,796 (+33.8%)
Typical home value: $656,613 (#5 most expensive city in metro)
5. Kirtland Hills, OH
1-year price change: +$32,042 (+4.9%)
5-year price change: +$214,614 (+45.2%)
Typical home value: $689,492 (#4 most expensive city in metro)
4. Beachwood, OH
1-year price change: +$32,077 (+8.3%)
5-year price change: +$123,024 (+41.5%)
Typical home value: $419,381 (#13 most expensive city in metro)
3. Moreland Hills, OH
1-year price change: +$34,049 (+5.9%)
5-year price change: +$173,220 (+39.6%)
Typical home value: $610,418 (#6 most expensive city in metro)
2. Bentleyville, OH
1-year price change: +$36,511 (+5.2%)
5-year price change: +$189,128 (+34.4%)
Typical home value: $738,325 (#2 most expensive city in metro)
1. Hunting Valley, OH
1-year price change: +$73,457 (+5.6%)
5-year price change: +$310,983 (+28.8%)
Typical home value: $1,390,583 (#1 most expensive city in metro)
This story features data reporting and writing by Elena Cox and is part of a series utilizing data automation across 380 metros.
You can read more on this story at Stacker.com.
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