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Medway

Learn about the people, housing, costs and businesses in Medway, Ohio

Median Home$146,700
Median Rent$883/month
Population601
Leading IndustriesProfessional Services · Finance & Insurance · Transportation5% professional services
Home Value Growth⬆⬆+14.1% over 2 years
Retirees23% of residentsslightly above average
Homeowners88% of occupied units
NotableVeteran Community12% of residents · top 6% nationally
Medway
OH

Frequently Asked Questions

What are today's mortgage rates in Medway?

As of today, the 30-year fixed mortgage rate for Medway is approximately 7.047% (7.091% 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 Medway?

The median home value in Medway is $147k. The median monthly rent is $883. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Medway?

Home values in Medway have increased 14.1% 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 Medway?

Based on a typical all-in ownership cost of $802/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $34k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Medway is $60k/year.

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What industries drive the economy in Medway?

The largest employment sectors in Medway are public administration (21%) and retail (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.