43609, Toledo, OH

Home Equity and Home Prices in the 43609 Zip Code of Toledo, OH

The 43609 zip code of Toledo, OH has a median home value of $128,000. This is lower than the statewide median home value of $174,500. However, this zip code has a higher than average rate of home equity growth. The average rate of home equity growth in this zip code is 7.5%. This means that over the past year, the homes in this zip code have increased by an average of $7,500.

This high rate of home equity growth may be due to several factors. First, the population in this zip code is older than the statewide average. This older population may have more money saved up from their previous years’ salaries and investments which they can use to purchase a home now or later on down the road. Second, there are more affluent residents living in this zip code than there are in other areas across Ohio. These affluent residents may be able to afford to pay higher prices for homes since they can afford to make larger down payments and/or take longer periods to pay off their mortgages. Finally, many homes in this zip code were built before 2006 which means that they are likely more affordable than newer homes which typically command a higher price tag.