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Elmwood Local

Learn about the people, housing, costs and businesses in Elmwood Local, Ohio

Median Home$164,451
Median Rent$869/month
Population6,117
Leading IndustriesRetail · Transportation · Finance & Insurance26% retail
Home Value Growth⬆⬆+20.0% over 2 years
Family-Friendly24% of residentsslightly above average
Homeowners77% of occupied units
NotableAffordable Market$164k median home · lower cost than 77% of the country
Elmwood Local
OH

Frequently Asked Questions

What are today's mortgage rates in Elmwood Local?

As of today, the 30-year fixed mortgage rate for Elmwood Local is approximately 6.966% (7.008% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Elmwood Local?

The median home value in Elmwood Local is $164k. The median monthly rent is $869. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Elmwood Local?

Home values in Elmwood Local have increased 20.0% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Elmwood Local?

Based on a typical all-in ownership cost of $921/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $39k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Elmwood Local is $71k/year.

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What industries drive the economy in Elmwood Local?

The largest employment sectors in Elmwood Local are retail (26%) and public administration (21%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.