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Magnetic Springs, OH Profile: Facts & Data

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Magnetic Springs, Ohio - Basic Facts

The Village of Magnetic Springs had a population of 294 as of July 1, 2020.

The primary coordinate point for Magnetic Springs is located at latitude 40.3528 and longitude -83.2613 in Union County. The formal boundaries for the Village of Magnetic Springs encompass a land area of 0.23 sq. miles and a water area of 0.01 sq. miles. Union County is in the Eastern time zone (GMT -5). The elevation is 932 feet.

The Village of Magnetic Springs (GNIS ID: 2399223) has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Village of Magnetic Springs is located within Township of Leesburg, a minor civil division (MCD) of Union County.


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Magnetic Springs, OH Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 294 (100%)
Population in Households 294 (100.0%)
Population in Families 248 (84.4%)
Population in Group Quarters1 0
Population Density 1,271
Diversity Index2 9
 
 

INCOME

Median Household Income $53,866
Average Household Income $76,883
% of Income for Mortgage4 17%
Per Capita Income $29,718
Wealth Index5 69
 

HOUSING

Total HU (Housing Units) 140 (100%)
Owner Occupied HU 92 (65.7%)
Renter Occupied HU 31 (22.1%)
Vacant Housing Units 18 (12.9%)
Median Home Value $213,889
Average Home Value $212,637
Housing Affordability Index3 152
 

HOUSEHOLDS

Total Households 122
Average Household Size 2.41
Family Households 91
Average Family Size 3
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

 2010-2020 2020-2025
Population 0.91% 1.2%
Households 1.02% 1.28%
Families 1.9% 1.08%
Median Household Income   2.7%
Per Capita Income   1.68%
Owner Occupied HU   1.06%

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Magnetic Springs, OH - Peer Comparisons by Rank and Percentile

The table below compares Magnetic Springs to the other 1,215 incorporated cities, towns and CDPs in Ohio by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 993 18th
Population Density # 587 52nd
Median Household Income # 686 44th
Housing Affordability Index # 140 12th
Per Capita Income # 466 62nd
Diversity Index # 803 34th

Additional comparisons and rankings can be made with a VERY EASY TO USE Ohio Census Data Comparison Tool.

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