44022, Chagrin Falls, OH

The 44022 zip code of Chagrin Falls, Ohio is located in the southeastern corner of the state. The zip code covers a total area of 8.4 square miles and has a population of just over 10,000 people. The median household income in the 44022 zip code is just over $60,000, which is significantly higher than the statewide median income of $51,046. However, despite this high income level, home prices in the 44022 zip code are significantly lower than home prices statewide.

According to data from Zillow®, the average home value in the 44022 zip code is just under $130,000. This represents a decrease of almost 20% from the average home value in Ohio as a whole ($174,500). In addition, while only 2% of homes in Ohio are worth more than $250,000, 9% of homes in the 44022 zip code are worth more than this amount. This indicates that there is significant demand for properties within this particular area that are priced below statewide averages.

One potential explanation for these low home values within the 44022 zip code may be its lack of access to major metropolitan areas. Only about 1% of residents living within this zipcode commute to work each day via public transportation or carpooling – compared to around 10% across allzip codes in Ohio – which could lead to less demand for expensive homes within this area. Additionally, although Chagrin Falls does have some amenities that may attract residents away from larger cities (such as a ski resort and several golf courses), it does not have many large employers located within its boundaries which could also contribute to lower home values.