Quick facts: Otway, OH

Quick Facts

96.4
Cost of Living
below US average
91
Population
274.73
Crime Rate per 1000
above US average
$31,111
Median Income
below US average
$349,000
Median House Price
above US average
$1363
Average Rent
below US average
15%
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 $31,111.

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Income Needed to Buy

βœ— Stretch
$109k/year
Based on $349,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $109k vs median $31,111
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Income Needed to Rent

⚠ Stretch
$58k/year
Based on $1363/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $58k vs median $31,111
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Otway, OH

Otway is a small village located in Scioto County, Ohio. Nestled in the Appalachian foothills, it is characterized by its rural charm and community-focused atmosphere. With a population of just a few hundred residents, Otway offers a quiet, small-town experience surrounded by picturesque landscapes, including rolling hills and wooded areas that are typical of southern Ohio. The village is situated near state routes that provide access to larger towns and cities for shopping, dining, and entertainment. Nearby attractions include the bustling city of Portsmouth to the east, which offers historical sites, dining options, and outdoor activities along the Ohio River. The area is also known for its outdoor recreational opportunities, with parks and nature trails ideal for hiking, fishing, and camping. While Otway may not have a wealth of urban amenities, its close-knit community, tranquil environment, and proximity to natural beauty make it an appealing location for those seeking a peaceful lifestyle away from the hustle and bustle of city living.

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