45066, Springboro, OH

Home Equity and Home Prices in the 45066 Zip Code of Springboro, OH

The home equity and home prices in the 45066 zip code of Springboro, OH are very high. The median home value in this zip code is $269,000, which is more than triple the national median home value of $116,500. Additionally, the average home equity loan-to-value (LTV) ratio in this zip code is 97%, which is significantly higher than the national average LTV ratio of 63%. This indicates that many homeowners in this zip code are highly leveraged and likely have a difficult time refinancing or selling their homes if they need to.

While there are many reasons why homeowners in this zip code may be highly leveraged, one potential reason is that there are a large number of homes for sale in this area. As of May 2019, there were 2,851 active listings in the 45066 zip code compared to 1,924 active listings nationwide. This suggests that homeowners here have a greater opportunity to find a buyer for their homes than homeowners nationwide. However, it should be noted that competition for buyers may also lead to higher prices since more buyers means more competition for available homes and fewer available homes means higher prices.

Overall, it appears that homeowners in the 45066 zip code of Springboro are enjoying high levels of both home equity and home prices. While these levels may make it difficult for some homeowners to sell or refinance their homes if they need to, they may be able to enjoy high levels of wealth accumulation over time if they stay within their budget and don't overextend themselves financially.