Housing
Vacancy - 8.5%
The Dayton-Springfield-Lima, OH Market ranks 119th in Vacancy across STI Markets with a Vacancy rate of 8.5%. That is 51,706 Vacant Housing units compared to 559,325 Occupied units.
Average Home Value - $282,370
The Average Home Value for owner occupied housing units in the Dayton-Springfield-Lima, OH Market is $282,370. This ranks 127th across STI Markets. Over the last 2 years there has been a change of 15.9% in this markets Average Home Value, compared to a national change of 11.8%. This 2 year change in home values ranks 29th across STI Markets.
Figure 55: Home Value 2year History
Mortgage Risk Level - Low
Mortgage Risk is defined as the ratio of recent residential loan amount to income for new home purchases. The Mortgage Risk for the Dayton-Springfield-Lima, OH Market is 2.6. The market subsequently ranks 125th across STI Markets. This is considered to be a Low level of mortgage risk.
Affordability Level - Affordable
Overall Affordability can be classified in a similar fashion, comparing the Markets Average Home Value with the Average Household Income. This Affordability ratio currently sits at 2.9. The Dayton-Springfield-Lima, OH Market therefore earns the Affordable classification for housing affordability and ranks 138th across STI Markets. The following chart shows how markets compare between these two measure. Note the breaks between affordability classifications are 3, 5, and 7.
Figure 60: Affordability Comparision
