Novelty, OH—44072
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Novelty, OH
As of Oct '25, the median home price in Novelty, OH is $437,000, with a year-over-year change of 5.8%. This indicates that home prices in Novelty, OH are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $437,000 | 5.8% |
| Single Family | $437,000 | 5.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $277,000 | 4.9% |
3 Bed | $359,000 | 5.6% |
4 Bed | $517,000 | 5.7% |
| 5 Bed | $793,000 | 4.9% |
% of Housing Stock
Rental Trends — Novelty, OH
Novelty, OH lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Novelty, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Novelty, OH is 61. This is a increase of 16.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $676,000 | 1.0% |
Listing Count | 21 | 66.0% |
| Listings as % of Homes | 0.4% | 66.0% |
Days on Market | 61 | 16.0% |
Demographics — Novelty, OH
As of the latest ACS Survey released in 2023, Novelty, OH has a population of 5,030, which has increased by 13.8% over the past 5 years. Novelty, OH is a moderately popular place for families, as children make up 20.5% of the population. The area has a highly educated workforce, with 45.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,030 | 13.8% |
% Under 18 | 20.5% | 12.6% |
% Seniors | 22.9% | -6.5% |
% WFH | 13.2% | 71.4% |
% w/ College Degree | 45.4% | -6.2% |
As of the latest ACS Survey released in 2023, Novelty, OH is a predominantly white area, with 87.2% of the population identifying as white. The white population has shrunk by 11.5% in the last 5 years. The second most common race or ethnicity in Novelty, OH is hispanic, making up 5.6% of the population. Foreign-born residents account for 6.1% of the population in Novelty, OH, and this percentage has increased by 165.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 87.2% | -11.5% |
% Black | 1.2% | ∞% |
% Hispanic | 5.6% | 700.0% |
% Asian | 0.5% | -37.5% |
% Foreign Born | 6.1% | 165.2% |
Mortgage and Risk — Novelty, OH
According to HUD data as of 2023, there were 130 mortgage originations in Novelty, OH, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 48.0%, with 11.0% above 90% LTV (elevated). This implies medium mortgage risk in Novelty, OH. Investor activity is low, as 2.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 130 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 2.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Novelty, OH
Novelty, OH lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 0.2% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,490 |
| 2 Bedroom | N/A | N/A | $1,810 |
| 3 Bedroom | N/A | N/A | $2,330 |
| 4 Bedroom | N/A | N/A | $2,500 |
Affordability — Novelty, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $437,000 |
| Median Household Income | $99,700 |