Foreclosure Real Estate Market in Erie County, Ohio
Erie County, Ohio, offers valuable opportunities for those interested in foreclosure properties. As of mid-2024, the median home price in Erie County is approximately $195,000, reflecting a 5.4% year-over-year increase. Foreclosure properties often provide chances to purchase homes below market value. Homes typically spend around 40 days on the market, indicating a moderately active market. Recent sales, including foreclosures, range from $35,000 to $549,900, showcasing diverse investment opportunities.
Economic Overview
The economy of Erie County is driven by sectors such as manufacturing, healthcare, and tourism. The unemployment rate in Erie County is about 4.1%, which is close to the national average. The median household income in Erie County is approximately $55,000, reflecting the region's mixed urban and rural character.
Demographic Profile
Erie County has a population of around 75,000 people. The demographic composition is predominantly White (about 90%), with a stable population size over recent years. The median age is approximately 42 years, indicating a balanced age distribution. This demographic structure influences the demand for various types of housing and services, including family-oriented facilities and healthcare.
Educational Standing
Education in Erie County is served by several public school districts, including Sandusky City Schools and Huron City Schools. The county's educational attainment is comparable to the state average, with about 89% of residents having a high school diploma and around 20% holding a bachelor’s degree or higher. Schools in the area, such as Bellevue Elementary and Woodlands Intermediate, generally receive good ratings, reflecting efforts to maintain strong educational standards.
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