Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Lima area can be challenging. Home prices in Lima are now at a median cost of $90,400, lower than the Iowa average of $182,666.
The average cost of rent is $625/mo in Lima, primarily driven by the current value of real estate in the Lima area. While nearly 58.96% of residents own their homes outright in Lima, 16.83% rent.
Housing affordability isn’t just about home prices, though. The average household income in Lima is $4,896 per month. Households that rent pay about 12.77% of their income on rent here. Lima's most expensive areas are in the central regions, while the cheapest areas are in the central parts of the city.
Nearby Cities
- Wadena, IA: equally priced homes
- Fayette, IA: equally priced homes
- Elgin, IA: equally priced homes
- Arlington, IA: higher priced homes
- West Union, IA: higher priced homes
- Volga, IA: higher priced homes
- Clermont, IA: higher priced homes
- Donnan, IA: higher priced homes
- Randalia, IA: higher priced homes
- Gunder, IA: higher priced homes
Cities with Similar Populations
- Rising Sun, IL: higher priced homes
- Milo, KS: less expensive homes
- Mineral Hills, MI: less expensive homes
- Mix Run, PA: higher priced homes
- Moark, AR: less expensive homes
- Modoc, AR: less expensive homes
- Moenville, SD: higher priced homes
- Momence, IN: higher priced homes
- Mona, IA: higher priced homes
- Money, MS: higher priced homes
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