44275, Spencer, OH

The 44275 zip code of Spencer, OH has a median home value of $101,000. This is lower than the Ohio median home value of $130,000. The Spencer zip code also has a lower home equity percentage than the Ohio average of 63%. There are several factors that could contribute to this discrepancy including: lower incomes in the area, fewer homes for sale, and higher rates of foreclosure.

Despite these disparities, there are still many homeowners in the Spencer zip code who are enjoying strong home equity values. In fact, according to Zillow’s Home Value Index report for October 2016, 78% of homeowners in this zip code have at least 50% equity in their homes. This high level of equity is likely due to low rates of foreclosure and limited supply in the area. Additionally, many homeowners have taken advantage of low interest rates by refinancing their mortgages multiple times over the past few years.

Overall, while there may be some areas where Spencer ranks lower than other parts of Ohio when it comes to home values and home equity percentages, it is still a desirable place to live and own a home. The community amenities and quality of life here are top-notch and continue to improve year after year.