45307, Bowersville, OH

Home Equity and Home Prices in the 45307 Zip Code of Bowersville, OH

The home equity and home prices in the 45307 zip code of Bowersville, OH are very high. The median home value in this zip code is $216,000, which is more than double the national median home value of $116,000. The average home value in this zip code has increased by almost 50% since 2000. This high level of home equity is likely due to the strong economy and low interest rates that have been in place for many years.

The high level of home equity may also be a result of the fact that there are a lot of wealthy people living in this zip code. The percentage of households with an income over $200,000 is much higher than the national average. This high level of wealth may be a contributing factor to the high level of home equity in this area.

Despite these positive factors, there are some risks associated with having a lot of home equity. If interest rates rise or if the economy weakens, homeowners could find themselves struggling to pay their mortgages or other debts. Additionally, if someone loses their job or their house goes into foreclosure, they may not be able to afford to repay their mortgage or other debts.