45805, Lima, OH

The 45805 zip code of Lima, OH has a population of approximately 25,000 people. The median household income in this zip code is $60,000. The median home value in this zip code is $157,500.

There are a total of 3,814 homes in the 45805 zip code of Lima, OH. The average home value in this zip code is $157,500. There are a total of 2,527 mortgages in the 45805 zip code of Lima, OH with an average mortgage balance of $151,000. The average home equity loan balance in this zip code is $143,500. There are a total of 1,912 single family homes and 7 condos in the 45805 zipcode of Lima, OH. The average price per square foot for single family homes and condos in this zip code is $106/square foot and $128/square foot respectively.

The median home equity loan amount for all mortgages in the 45805 zip code is $143,500 which means that half (50%)of all mortgages have an equity loan amount greater than or equal to $143,500 while half (50%)of all mortgages have an equity loan amount less than or equal to $143,500. This indicates that there is a wide range of home equity values within the 45805 zip code and that most homeowners have more than enough equity to cover any potential repairs or upgrades they may need to make on their homes. Additionally it shows that there are many homeowners who have taken advantage of low interest rates over the past few years and have increased their home equity levels significantly by refinancing their existing mortgage into a higher interest rate product such as a 30-year fixed rate mortgage or even into a hybrid product such as a 15-year fixed rate mortgage with an adjustable rate feature built-in.