44601, Alliance, OH

The zip code 44601 in Alliance, Ohio has a median home value of $128,000 and a median home equity of $101,000. This means that approximately 44% of homes in the zip code have a higher value than their original mortgage. Additionally, the average home price growth rate for the zip code from 2013-2017 was 2.2%. This indicates that there is strong demand for housing in this area and that prices are likely to continue to rise.

One reason why home values are rising in this area is because Alliance is experiencing strong economic growth. The unemployment rate in Alliance is currently at 3%, which is much lower than the national average of 5%. Additionally, the city has been designated as a “smart growth” community by the Smart Growth America Network and has implemented many policies aimed at improving livability and reducing traffic congestion. These factors are likely contributing to increased demand for housing and higher prices.

Another reason why prices are increasing in this area is because there are relatively few homes available for sale compared to other areas of similar size. In fact, according to Zillow, only 3% of homes available for sale in Alliance are vacant compared to an average vacancy rate of around 5% across all U.S. zip codes. This shortage of inventory may be driving up prices as buyers compete for limited options.

Overall, it appears that there is strong demand for housing in the 44601 zip code and that prices will continue to increase over time as more people move into the area and find themselves unable to find affordable options elsewhere.