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Zip Code 43525: Rising Home Values and Shifting Ownership in Haskins, Ohio
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
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Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Zip code 43525, located in Haskins, Ohio, has experienced significant demographic and housing market changes over the past decade. This small community has seen a notable increase in population and fluctuations in homeownership rates, alongside rising average home prices and rent costs.
The homeownership rate in zip code 43525 has shown a general decline from 2013 to 2022, with some fluctuations. In 2013, the homeownership rate was 90%, which gradually decreased to 79% by 2022. During this same period, average home prices in the area steadily increased. In 2013, the average home price was $150,229, and by 2022, it had risen to $240,654, representing a substantial 60% increase over nine years.
Federal interest rates have played a role in homeownership trends in the area. From 2013 to 2016, when interest rates were extremely low (ranging from 0.11% to 0.4%), homeownership rates remained relatively stable at around 90%. However, as interest rates began to rise from 2017 (1%) to 2019 (2.16%), homeownership rates started to decline, reaching 80% by 2019. This trend suggests that higher interest rates may have made homeownership less attainable for some residents.
The percentage of renters in zip code 43525 has generally increased from 2013 to 2022, inverse to the homeownership trend. In 2013, only 9% of residents were renters, but by 2022, this figure had risen to 21%. Correspondingly, average rent prices have shown a significant upward trend. In 2013, the average rent was $885, which increased to $1,428 by 2022, representing a 61% rise over nine years. This increase in rent prices coincides with the area's population growth, from 231 residents in 2013 to 362 in 2022, potentially indicating increased demand for rental properties.
Looking at the most recent data, the average home price in zip code 43525 reached $255,250 in 2023 and further increased to $264,630 in 2024. This represents a 10% increase from 2022 to 2024. Concurrently, federal interest rates rose significantly to 5.02% in 2023 and 5.33% in 2024, which may impact future homeownership rates and housing market dynamics in the area.
Applying predictive models to forecast 5-year trends, we can anticipate continued growth in both average home prices and rent costs in zip code 43525. Based on historical data and current trends, average home prices could potentially reach around $300,000 by 2029. Similarly, average rent prices might increase to approximately $1,700-$1,800 per month in the same timeframe, assuming the current growth rate continues.
In summary, zip code 43525 has experienced a gradual shift from a predominantly owner-occupied community to one with an increasing renter population. This change has occurred alongside substantial increases in both average home prices and rent costs. The interplay between federal interest rates, population growth, and housing demand has shaped these trends, creating a dynamic and evolving housing market in this Ohio village.
