43130, Lancaster, OH

The home equity and home prices in the 43130 zip code of Lancaster, OH have been on a steady rise for the past few years. In fact, according to Zillow, the median home value in this zip code is currently $164,900. This represents a 6% increase from last year and a 12% increase from five years ago.

One reason for this uptick in home values may be the increasing demand for housing in Lancaster County. According to recent data from The Ohio State University Moritz College of Law’s Urban Institute, Lancaster County has seen an influx of new residents over the past several years. This influx of people has led to an increased demand for housing and consequently, higher home values.

Another contributing factor to rising home values in this zip code may be the low rate of unemployment here. According to The Bureau of Labor Statistics (BLS), Lancaster County has an unemployment rate of 3%. This is significantly lower than the national average unemployment rate of 7%. As a result, there is likely more competition for available homes and apartments than there would be if unemployment were higher.

Despite these positive trends, it’s important to keep in mind that not everyone living in 43130 zip code will experience sky-high home values due to factors like increased demand or low unemployment rates. Some people may still struggle to afford a house or apartment even with these high prices because their income isn’t high enough relative to their mortgage payments or other expenses associated with homeownership such as property taxes and insurance premiums.