44145, Westlake, OH

Home equity is the difference between what a home is worth and what a homeowner owes on the mortgage. In Westlake, OH, home equity averaged $176,000 in 2016. This means that homeowners in this zip code had more than enough money left over after paying their mortgages and other bills to buy things like cars or take vacations.

Westlake's average home price was $191,700 in 2016. This means that homeowners in this zip code earned an average of 7% return on their home equity investments each year. This is much higher than the national average of just 2%.

There are several reasons why Westlake's homeowners have been able to earn such high returns on their home equity investments. First, Westlake has a low unemployment rate (3%) which means that there are plenty of jobs available for people who want them. Second, Westlake's economy is growing slowly but steadily which means that incomes are increasing slowly too. Finally, Westlake's homes are generally well-maintained and have low foreclosure rates (1%). These factors all contribute to making Westlake one of the most desirable places to live in Ohio and one of the best places to invest in home equity.