45601, Chillicothe, OH

The zip code of 45601 in Chillicothe, Ohio has a median home value of $101,000. This is lower than the national median home value of $177,500. The percentage of homes in this zip code that are valued at less than $100,000 is higher than the national percentage of 25%. The percentage of homes in this zip code that are valued at more than $200,000 is lower than the national percentage of 33%.

There are a total of 1,811 homes in the 45601 zip code. Of these homes, 1% are valued at less than $50,000 and 2% are valued at less than $100,000. The majority (92%) of homes in this zip code have a median home value between $101K and $200K.

Home prices in Chillicothe have been on a downward trend since 2007 when they peaked at over $130K. Since then they have decreased by almost 30%. This decrease can be partially attributed to low interest rates and stricter lending criteria by banks which has made it more difficult for people to get mortgages. However there has also been an increase in demand for housing as families move into the area and young professionals start their careers here.

Despite the decreasing prices homeownership rates remain high with almost two thirds (64%)of households owning their own home. This is higher than the national homeownership rate which stands at 61%. It is also worth noting that white households own more property per capita in Chillicothe then any other race or ethnicity group.