44703, Canton, OH

Canton, OH is located in Stark County and has a population of approximately 102,000. The median household income in Canton is $87,500 and the median home value is $175,000. Canton has a relatively low unemployment rate of 3.5% and a high poverty rate of 23%.

The 44703 zip code has seen an increase in home equity over the past few years. In 2013, the home equity in this zip code was $128,000. This increased to $157,000 by 2016 and reached an all-time high of $187,000 in 2017. The average home value growth for this zip code between 2013 and 2017 was 12%.

There are several factors that have contributed to the increase in home equity values in the 44703 zip code. First, there has been an increase in demand for homes due to an influx of new residents into Canton as well as an increase in jobs within the area. Second, there has been a decrease in interest rates over the past few years which makes it more affordable for people to borrow money to purchase a home. Third, prices have not increased as much as inflation since 2007 which makes it easier for people to afford their homes even if their income does not grow at the same rate as prices do. Fourth, there are limited available properties within this zip code which means that when one property becomes available for sale it often sells quickly due to competition from other buyers.

Despite these positive trends however there are also some risks associated with buying a home within the 44703 zip code. First, prices can continue to rise faster than incomes so if someone’s income does not grow at exactly the same rate as their house price they may find themselves struggling financially after buying their house. Second, although interest rates have decreased recently they could still go up again which would make it more expensive for people to borrow money against their homes or pay off their mortgage early (since mortgages typically have fixed rates). Third, although there are limited properties available within this zip code it doesn’t mean that everyone who wants one can get one – if there is too much demand then prices will go up which would make buying a house more expensive than renting or living elsewhere altogether