43228, Columbus, OH

The 43228 zip code of Columbus, OH has a median home value of $130,000. This is a decrease from the median home value of $142,500 in 2007. The decrease in home values can be attributed to many factors including the recession and low interest rates.

Despite the decrease in home values, homeownership rates remain high in this zip code. In 2007, 68% of households were owner-occupied while 32% were renter-occupied. As of 2016, homeownership rates have remained relatively stable at 67%. This indicates that many people are still able to purchase homes despite decreasing prices.

One reason for the stability in homeownerhip rates may be that many people are buying homes as an investment rather than for personal use. In 2016, 34% of households owned their homes outright while another 31% had mortgages with a down payment below 20%. These numbers indicate that there is still demand for homes even though prices have decreased.