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These days, finding an affordable place to live in the Downtown Lorain area can be challenging. Home prices in Downtown Lorain are now at a median cost of $99,647, lower than the Lorain average of $139,009.
The average cost of rent is $845/mo in Downtown Lorain, primarily driven by the current value of real estate in the Downtown Lorain area. In Downtown Lorain, 53.73% of households rent, and 56.34% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Downtown Lorain is $3,672 per month. Households that rent pay about 23.03% of their income on rent here. Downtown Lorain’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central parts of the neighborhood.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Neighborhoods
- South Lorain, Lorain, OH: equally priced homes
- Downtown Elyria, Elyria, OH: higher priced homes
- Kamms Corner, Cleveland, OH: higher priced homes
- Puritas Longmead, Cleveland, OH: equally priced homes
- Madison Village, Lakewood, OH: higher priced homes
- Jefferson, Cleveland, OH: higher priced homes
- Edgewater, Cleveland, OH: higher priced homes
- West Boulevard, Cleveland, OH: equally priced homes
- Cudell, Cleveland, OH: equally priced homes
- Detroit Shoreway, Cleveland, OH: higher priced homes
Neighborhoods with Similar Populations
- Zenith, Des Moines, WA: higher priced homes
- Downtown Boone, Boone, NC: higher priced homes
- Hadwen Park, Worcester, MA: higher priced homes
- Sunshine, Lehigh Acres, FL: higher priced homes
- Strawberry Hill, Cambridge, MA: higher priced homes
- Stonybrook-Wilshire, York, PA: higher priced homes
- Stone Meadows, Bakersfield, CA: higher priced homes
- Coral Ridge, Fort Lauderdale, FL: higher priced homes
- Greendale, Worcester, MA: higher priced homes
- Globe, Woonsocket, RI: higher priced homes
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