44053, Lorain, OH

The 44053 zip code of Lorain, OH is located in the northeast corner of the state and includes a large portion of Cleveland. Home prices in this zip code have been on the rise for many years now, and there are many reasons why. The area is growing rapidly and new businesses are moving in, which means more jobs and more people who can afford to buy homes. Additionally, the local schools are excellent and there is a lot of investment money flowing into the area.

As a result, home prices in this zip code have increased significantly over the past few years. In March 2016, median home prices were $147,000 according to Zillow. This was up from $128,000 just two years earlier and it's estimated that they will continue to rise over time. Currently there are about 1,600 homes for sale in this zip code which indicates that demand is high.

One reason that home prices have been rising so much in this area is because of interest rates. When you borrow money to buy a house you're usually required to pay back a fixed percentage of your income each month for as long as you keep your house (unless you get an adjustable-rate mortgage). However, interest rates have been low for quite some time now which has made it easier for people to borrow money and buy homes. As a result, home prices have gone up even though incomes haven't necessarily increased as much as they would if interest rates were higher.

Overall, it's clear that there are many reasons why home prices in the 44053 zip code of Lorain have been on the rise for many years now. The area is growing rapidly and new businesses are moving in which means more jobs and more people who can afford to buy homes; additionally, the local schools are excellent so there's plenty of investment money flowing into the area; finally, interest rates have been low making it easier for people to borrow money and buy homes