Homeownership in County Is Above State Average - The Missourian: Local News

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Homeownership in County Is Above State Average

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Posted: Saturday, November 16, 2013 2:00 pm

The number of Franklin County residents who own their own homes is above the state average.

According to the U.S. Census Bureau numbers, from 2007 to 2011, 76.9 percent of people in the county are homeowners. The percentage of homeowners statewide is 69.5 percent.

There are approximately 43,538 housing units in the county, and 38,817 of them were occupied during that same time period.

Homeownership numbers in nearby counties are slightly higher than in Franklin County.

In Jefferson County, 82.9 percent of residents own their homes, and in Warren County the number is 79.5 percent.

The median value of homes in the county also is greater than the state average.

According to the Census Bureau, the average home value in Franklin County is about $150,300, compared to a state average of $138,900.

Rachele Maczuk, president of the Franklin County Board of Realtors, said real estate sales have been on the rise in the county since 2012, even though fall is typically a slow time for the market.

“This year and last year both have been solid for this time of year,” she said. “Contracts have remained steady. Usually people don’t like to move in the fall of the year.”

Banks are still offering USDA loans in Franklin County, Maczuk said, and more people are moving into conventional mortgages.

“Conventional mortgages require more money down, but the rates are great right now,” she said.

Seller’s Market

Home prices also remain good for the seller, Maczuk said. From January to October, the average selling price of homes in Franklin County was around $138,400, up from $133,420 for the same period last year.

Maczuk said homes are staying on the market for relatively the same amount of time.

From January to October of this year, the average time to sell a home was about 136 days, as compared to 146 days the same time period last year.

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