44052, Lorain, OH

The 44052 zip code of Lorain, OH has a median home value of $122,000 and a median home equity of $111,000. This means that the majority of homes in this zip code are worth more than their original purchase price, but there are also a significant number of homes that are still worth less than their original purchase price.

One reason that the majority of homes in this zip code are worth more than their original purchase price is because the area has seen strong growth over the past few years. The population in this zip code has increased by about 10% since 2010, which has led to an increase in demand for housing and consequently an increase in home prices.

Another reason why the majority of homes in this zip code are worth more than their original purchase price is because there is a high level of home equity here. Almost half (47%) of all households in this zip code have at least some form of home equity, which means that homeowners have a lot of flexibility when it comes to making changes to their homes or spending money on renovations. This high level of home equity is likely contributing to the fact that many homeowners here are still able to afford to buy new homes even though they may not be earning as much money as they used to.