The home building boom has not stopped in Medina County with new construction popping up, changing the landscape of the still-rural county.
According to data from Medina County Chief Building Inspector Christopher Randles, there were 472 new home starts in Medina County for 2018, the most in at least five years.
Randles said the county saw 452 new home starts in 2017 and 430 in 2016.
“I just think the economy has been good and interest rates have stayed fairly low for home loans,” he said. “That’s my gut feeling on it.”
Bankrate.com puts the average 30-year fixed mortgage rate at 4.62 percent, up 3 basis points from 4.59 percent a week prior, based on data released Jan. 23. Also, 15-year fixed mortgage rates are 3.99 percent, up 1 basis point from 3.98 percent the week prior.
The finances combined with land availability makes Medina County very attractive,” Randles said.
“There’s plenty of land for housing starts,” he said. “There is a lot of land. It’s still a rural county.
“There is still room for expansion in the county for housing opportunities. It’s a great area between Akron and Cleveland. It’s a great place for someone to build a home and raise a family.”
Home builds have continued through to the end of the year.
In December, there were 30 new homes, also the most in the last five years for that month. In the townships and villages, Lafayette Township led the way with nine new housing permits for December. Both Medina and Montville townships had four new housing starts in December.
The average construction costs for homes in December were $320,641.
Randles said the financial climate is far superior to what it was 10 years ago when the U.S. was going through the Great Recession, and it has played a factor.
“It’s a little bit better situation now,” he said. “It’s been turning upward, and we continue to see more home starts.”
For the year, the average cost for a new home in Medina County was $277,374.
Year totals put Montville Township at 62 new home starts in 2018 and Medina Township at 52.
Lafayette had a county-high 68 new housing starts in 2018.
Sixty-two of those homes went in two Ryan Homes developments that have been constructed in Lafayette.
“Lafayette Township is a great place to live,” Lafayette Trustee Lynda Bowers said. “The town is still very rural. It has excellent services. We function well as a community.”
The Medina County Building Department said there were 11 commercial permits worth $1.57 million for December. The largest was for an addition to Jarrett Trailer Services in Seville Village worth $1.08 million. Freeman Building Systems will handle the construction.