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Zip Code 43537: Rising Home Values and Steady Ownership in Maumee, 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 43537, located in Maumee, Ohio, has demonstrated significant trends in homeownership and property values over the past decade. This area has experienced relatively stable ownership percentages alongside notable increases in both average home prices and average rent prices.
The homeownership rate in zip code 43537 remained fairly consistent from 2013 to 2022, with minor fluctuations. In 2013, the rate stood at 71%, reaching its peak at 73% from 2014 to 2016, before slightly decreasing to 70% by 2022. During this same period, average home prices showed a consistent upward trend. The average home price in 2013 was $152,600, which steadily increased to $244,843 by 2022, representing a substantial 60.4% growth over nine years.
Federal interest rates have played a role in homeownership trends in the area. From 2013 to 2016, when interest rates were historically low (ranging from 0.11% to 0.40%), homeownership rates in zip code 43537 reached their peak at 73%. As interest rates began to rise from 2017 onwards, there was a slight decrease in homeownership rates, reaching 70% by 2022 when the federal interest rate was 1.68%.
Renter percentages in zip code 43537 showed slight variations over the years, ranging from 25% to 30% between 2013 and 2022. The average rent prices demonstrated an overall upward trend during this period. In 2013, the average rent was $861, which increased to $1,003 by 2022, representing a 16.5% increase. The population in this zip code grew from 26,319 in 2013 to 28,590 in 2022, potentially contributing to the increased demand for rental properties and the subsequent rise in average rent prices.
In 2023 and 2024, the housing market in zip code 43537 continued its upward trajectory. The average home price reached $254,480 in 2023 and further increased to $265,417 in 2024, showing a 4.3% year-over-year growth. This growth occurred despite significantly higher federal interest rates, which stood at 5.02% in 2023 and 5.33% in 2024.
Based on the historical data and current trends, average home prices in zip code 43537 will likely continue to rise over the next five years, albeit potentially at a more moderate pace due to higher interest rates. Average home prices are expected to reach approximately $300,000 by 2029. Average rent prices are also projected to increase, potentially reaching around $1,200 per month by 2029, driven by population growth and rising property values.
In summary, zip code 43537 has demonstrated resilience in its housing market, with steadily increasing average home prices despite fluctuations in homeownership rates. The rental market has also shown growth, both in terms of renter percentages and average rent prices. The area's continued population growth and the overall upward trend in property values suggest a robust and dynamic real estate market in this Maumee zip code.
