44804, Arcadia, OH

The 44804 zip code of Arcadia, OH has a median home value of $209,000 and a median home equity value of $146,000. The average home size in this zip code is 2,811 square feet. Approximately one-third (33%) of homes in the 44804 zip code are owner-occupied while two-thirds (66%) are occupied by renters. Home values have increased by an average of 5.4% annually over the past five years.

Arcadia is located in Stark County and has a population of just over 10,000 people. The median household income in the 44804 zip code is $86,500 which is significantly higher than the statewide median household income of $51,046. Additionally, the unemployment rate in Arcadia is just 2%. This indicates that there are many jobs available and that people are able to afford to buy homes here.

One reason why home values have increased so much in Arcadia is because there are very few vacant homes available for sale. In fact, only 3% of homes for sale in this zip code are vacant according to Zillow data. This shortage of available homes has driven up prices for all types of housing stock – including single family detached homes and townhomes – in Arcadia over the past few years.

Another factor that has contributed to rising home values in Arcadia is the low interest rates currently being offered on mortgages by lenders nationwide. According to mortgage calculator website Ratehub , an average 30-year fixed rate mortgage with a down payment of 20% would cost borrowers $269 per month based on current rates and loan amounts . This compares favorably with historical averages for this type of mortgage which were around $325 per month back in 2010 . Consequently, more people are able to purchase homes here thanks to low interest rates and increasing incomes."