43031, Johnstown, OH

Home Equity and Home Prices in the 43031 Zip Code of Johnstown, OH

The 43031 zip code of Johnstown, OH has a median home value of $119,000. This is higher than the median home value for the state of Ohio which is $87,500. The 43031 zip code also has a higher home equity value than the state average. In fact, nearly one-third (32%) of homes in this zip code have a home equity value above $200,000. This is significantly higher than the state average of just over one-fifth (21%).

There are several factors that may contribute to these high home equity values in the 43031 zip code. First, there are more affluent residents in this area who may be able to afford larger homes with more expensive features. Second, there are fewer foreclosures and short sales in this area which may lead to increased demand for high-priced homes. Finally, homeowners here may be able to afford larger down payments relative to other areas due to relatively low interest rates.

Despite these high home equity values, it's important to keep in mind that not all homeowners in the 43031 zip code are wealthy individuals. In fact, nearly one-third (30%) of households here have incomes below $50,000 per year which is lower than both the statewide average and national average. This suggests that even if you have a high home equity value it's not always safe or wise to rely on it as your only source of financial security."