44017, Berea, OH

Berea, Ohio is located in Cuyahoga County and has a population of around 25,000. The median household income in Berea is $72,000 and the median home value is $158,000. Home equity in Berea has been on the rise for the past few years and as of September 2017, the average home equity in Berea was $135,000. This increase can be attributed to several factors including low interest rates and increased demand for housing due to an influx of new residents.

The average monthly mortgage payment in Berea is $1,063 which means that homeowners have a significant amount of equity built up in their homes. Additionally, home prices have continued to rise even though there has been a slight decrease in available inventory over the past year or so. This indicates that there is strong demand for homes in Berea and that buyers are willing to pay more for properties than they were a few years ago.

Overall, it appears that homeownership rates are high in Berea and home values are increasing rapidly due to strong demand from buyers. While this may pose some challenges for those who are looking to sell their homes soon (due to increased competition), it appears that overall homeownership rates are still high relative to other areas of the country.