45036, Lebanon, OH

Home Equity and Home Prices in the 45036 Zip Code of Lebanon, OH

The home equity and home prices in the 45036 zip code of Lebanon, OH are very high. The median home value in this zip code is $269,900 which is more than double the national median home value of $130,000. Additionally, the average home equity loan-to-value ratio in this zip code is 97%, which is much higher than the national average of 65%. This indicates that many homeowners in this zip code have a lot of equity in their homes.

One reason for this high level of equity may be the low unemployment rate in Lebanon, OH. The unemployment rate here was 2.5% as of May 2017 which is much lower than the national unemployment rate of 4.1%. This low unemployment rate may lead to more people being able to afford to buy homes and increase their home equity values. Additionally, there are a number of affluent neighborhoods located within this zip code including Westlake Village and Shadowlawn Estates. These affluent areas may also contribute to high levels of home equity among homeowners here.

Despite these high levels of home equity, it's important to remember that not all homeowners in Lebanon, OH have such a strong position financially. There are a number of households here that do not have any mortgage debt but still owe significant amounts on their mortgages (i.e., those with a loan-to-value ratio above 80%). This means that even if their homes are worth significantly more than their mortgages allow them to sell for on the open market, they would still be struggling financially if they were forced to sell due to financial hardship.