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 2,245 people, 1,043 houses or apartments, and a median cost of homes of $80,141, house prices in New Boston are some of the most affordable in Ohio as well as the nation.
Single-family detached homes are the single most common housing type in New Boston, accounting for 61.60% of the village's housing units. Other types of housing that are prevalent in New Boston include large apartment complexes or high rise apartments ( 26.58%), duplexes, homes converted to apartments or other small apartment buildings ( 9.54%), and a few mobile homes or trailers ( 1.77%).
New Boston is dominated by renter-occupied one, two, or no bedrooms apartments. 69.28% of New Boston's dwellings are rentals.
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. New Boston's housing was primarily built during this period, from the '40s through the '60s. A full 39.16% of the village's housing hails from this era. Other housing ages represented in New Boston include homes built before 1939 ( 34.68%) and housing constructed between 1970-1999 ( 23.71%). There's also some housing in New Boston built between 2000 and later ( 2.45%).
Vacant housing appears to be an issue in New Boston. Fully 11.98% of the housing stock is classified as vacant. Left unchecked, vacant New Boston homes and apartments can be a drag on the real estate market, holding New Boston real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Some of the lowest real estate appreciation rates in America over the last ten years have been in New Boston, where house values have increased just 39.35%, which is annualized rate of 3.37%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
NeighborhoodScout's data show that during the latest twelve months, New Boston's appreciation rate, at 6.07%, has been at or slightly above the national average. In the latest quarter, New Boston's appreciation rate has been 1.02%, which annualizes to a rate of 4.15%.
Relative to Ohio, our data show that New Boston's latest annual appreciation rate is lower than 60% of the other cities and towns in Ohio.
$80,141
for Ohio
for nation
1,043
$1,125 / per month