Appreciation for MSAs:.

Before we disect the appreciation within the MSA for this period, lets consider how Cleveland Elyria Mentor, Ohio did compared to the state as a whole.

The Cleveland Elyria Mentor, Ohio MSA property value change was + 7.10% (+ 3.55% yearly).

All of the property in OH averaged + 8.22% change in value (+ 4.11% yearly).

Cleveland-Elyria-Mentor-OH

YearQuarterPrice IndexQuarter Increase or DecreaseAnnualized
1997 2 111.4 + 0.31% + 1.22%
1997 3 112.75 + 1.21% + 4.85%
1997 4 114.11 + 1.21% + 4.82%
1998 1 115.71 + 1.40% + 5.61%
1998 2 116.5 + 0.68% + 2.73%
1998 3 117.81 + 1.12% + 4.50%
1998 4 118.95 + 0.97% + 3.87%


Now is a great time to buy and fix up real estate in many areas. Foreclosures are on the rise so there are deals to be had. If you are considering purchasing and rehabbing a property, appreciation rates are important to consider. If you feel like this is a good area to purchase foreclosure property for rehab, check out Hard Money Rehab Loan Information at Spec-Loan.com. Its important to do your homework before taking on any type of real estate purchase.

If you were going to do a Amherst, Ohio Refinance, or Amherst, Ohio Reverse Mortgages, you could estimate your home value.

If you knew your Amherst, Ohio home was worth $95,000.00 in 1997, you could multiply by + 7.10%, add the gain and see the home should be worth $101,749.05 in 1998. Home value is an important part of every mortgage transaction.


Average YEARLY Real Estate Appreciation for Cleveland-Elyria-Mentor-OH from 1997 to 1998:
+ 3.55%

Appreciation Comparisons

The worst 5 MSAs from 1997 to 1998 were Honolulu-HI, Williamsport-PA, Ithaca-NY, Utica-Rome-NY, and Pittsfield-MA .

  1. Honolulu-HI decreased by - 3.48% between 1997 and 1998
  2. Williamsport-PA decreased by - 0.05% between 1997 and 1998
  3. Ithaca-NY only increased + 1.04% between 1997 and 1998
  4. Utica-Rome-NY only increased + 1.56% between 1997 and 1998
  5. Pittsfield-MA only increased + 2.16% between 1997 and 1998

For a 2 year period, the top 5 performing MSAs of all time are Fort-Walton-Beach-Crestview-Destin-FL, Naples-Marco-Island-FL, Bakersfield-CA, Visalia-Porterville-CA, and Phoenix-Mesa-Scottdale-AZ .

  1. Fort-Walton-Beach-Crestview-Destin-FL increased + 64.61% from 2004 thru 2005
  2. Naples-Marco-Island-FL increased + 64.37% from 2004 thru 2005
  3. Bakersfield-CA increased + 63.04% from 2004 thru 2005
  4. Visalia-Porterville-CA increased + 62.28% from 2004 thru 2005
  5. Phoenix-Mesa-Scottdale-AZ increased + 60.78% from 2004 thru 2005

The worst perfoming MSAs ever for a 2 year period, were Honolulu-HI, Casper-WY, Grand-Junction-CO, Lafayette-LA, and Anchorage-AK .

  1. Honolulu-HI lost - 49.13% from 1980 to 1981
  2. Casper-WY lost - 27.70% from 1986 thru 1987
  3. Grand-Junction-CO lost - 26.25% from 1984 thru 1985
  4. Lafayette-LA lost - 25.36% from 1986 thru 1987
  5. Anchorage-AK lost - 24.89% from 1986 thru 1987

Zip Code in MSA: 44001 - AMHERST, OH

MSA Pop: 2139512
Zip Pop: 20730
Avg Value: 132400
County: LORAIN
Elev: 733
Region: Midwest
Lat: 41.3693
Long: -82.2561