Quick facts: Eldorado, OH

Quick Facts

96.4
Cost of Living
below US average
452
Population
4.42
Crime Rate per 1000
below US average
$66,750
Median Income
below US average
$150,000
Median House Price
above US average
$1363
Average Rent
below US average
12%
Poverty Rate
above US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $66,750.

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Income Needed to Buy

βœ“ Affordable
$47k/year
Based on $150,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($66,750) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$58k/year
Based on $1363/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($66,750) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Eldorado, OH

Eldorado is a small village located in Preble County, Ohio. Nestled in the southwestern part of the state, it is characterized by its rural charm and close-knit community. The village boasts a rich agricultural background, emphasizing its connection with the surrounding farmland. With a population of around 500 residents, Eldorado offers a peaceful atmosphere and a slow-paced lifestyle, making it an idyllic spot for those seeking tranquility away from bustling city life. Despite its small size, Eldorado provides essential amenities, including local shops, parks, and services that cater to the residents. The village is part of the National Scenic Byway, and offers access to stunning countryside views and recreational activities. Community events and gatherings are a common sight, showcasing the village's commitment to bringing residents together. The nearby larger towns provide additional services and opportunities for dining, shopping, and entertainment, enhancing the overall living experience in Eldorado.

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