Willoughby is a steadily developing city in Lake County, Ohio owing to the numerous economic opportunities created by a strong agricultural sector and several national and regional companies headquartered here. With an average household income of $43,387, which is higher than Ohio's median, Willoughby is one of the cities with the lowest unemployment and poverty levels in Lake County. This and the fact that the cost of living is 1.3% lower than the national average makes Willoughby an attractive place to live in.
Willoughby homes for sale
The rate of population growth in Willoughby is generally low. According to statistics by Zillow.com, the city is home to about 22,200 people. There are about 10,500 households, with more than half of these residing in urban areas. On average, households are made up of about two persons. Although married couples make up almost 50% of the population, a larger percentage of them have no children.
The number of Willoughby homes is about 11,400 with 1,200 houses occupying every square mile. Willoughby real estate and property market trends indicate an increase in the median sale price of houses for sale in Willoughby Ohio. The home value index is $121,300 with an average listing price of $129,900 and average sale price of $147,900. The areas around Arrowhead Beach, Ridge Acres Estates, Valley Gardens, Willobee On The Lake and On The Greens Condominiums seem more popular with property buyers.
There are 67% single family homes in Willoughby while condos for sale in Willoughby Ohio make about 18.4% of all Willoughby real estate. The rest of the Willoughby homes make about 14.5% of the total. More than half of the population, about 59.5% own their homes and 40.5 live in rented homes. The average size of homes is 1,398 square feet. Renting an apartment in Willoughby can cost anything between $600 and $1,000 per month. For luxury apartments, the rental price can go as high as $1,300. The median value of homes for sale in Willoughby Ohio is about $200,000 and $174,000 for those without. Other types such as detached housing units cost about $192,000 while townhomes in Willoughby Ohio and other attached homes cost $156,000. Two unit structures cost $168,000 and three units structure cost $136,000. For five or more unit structures, the price is $80,000 while mobile homes cost $27,000.
Willoughby real estate
It is important to note that these Willoughby real estate figures are estimates to give home buyers, sellers and renters an idea about the cost and value of homes for sale in Willoughby Ohio. The prices will normally vary depending on factors such as the economy of the area and prevailing Willoughby real estate market trends, location, type and size of the properties and amenities provided among others. High-end luxury homes and apartments for example, tend to cost more because of extra features such as swimming pools, tennis courts, larger and more rooms, prime location and so on. Willoughby real estate offers affordable yet comfortable living in well developed communities and a variety of amenities for homeowners' convenience.