44095, Eastlake, OH

The 44095 zip code of Eastlake, OH has a population of around 10,000 and a median household income of $60,000. The average home value in this zip code is $158,500. This means that the home equity in this area is around $58,500 on average. Home prices have been increasing steadily in this zip code over the past few years and are now at their highest point since 2007.

There are several reasons why home prices in the 44095 zip code of Eastlake, OH have increased so much over the past few years. First, there is an abundance of available housing stock in this area which has led to strong demand from buyers. Second, there has been a steady increase in wages over the past few years which has allowed buyers to afford more expensive homes. Finally, interest rates have remained low throughout most of this period which has helped to boost home values even further.

Despite these positive trends, there are some risks associated with buying a home in the 44095 zip code of Eastlake, OH. First, there is a high rate of unemployment in this area which could lead to fewer buyers looking to purchase homes during periods of economic recession. Second, although interest rates are currently low overall, they could rise at any time which would negatively impact home values in this area. Third, although housing prices have increased steadily over the past few years it is possible that they could eventually decline if market conditions change for either reason (e.g., an increase in unemployment or interest rates).