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 $129,691, lower than the Illinois average of $242,002.
The average cost of rent is $756/mo in Lima, primarily driven by the current value of real estate in the Lima area. While nearly 54.35% of residents own their homes outright in Lima, 21.36% rent.
Housing affordability isn’t just about home prices, though. The average household income in Lima is $5,457 per month. Households that rent pay about 13.85% of their income on rent here. Lima's most expensive areas are in the central regions, while the cheapest areas are in the northern parts of the city.
Nearby Cities
- Tioga, IL: less expensive homes
- Ursa, IL: higher priced homes
- Sutter, IL: less expensive homes
- Mendon, IL: less expensive homes
- Loraine, IL: less expensive homes
- Canton, MO: equally priced homes
- West Point, IL: less expensive homes
- Elderville, IL: less expensive homes
- La Grange, MO: less expensive homes
- Warsaw, IL: less expensive homes
Cities with Similar Populations
- Ihlen, MN: equally priced homes
- Jones Mills, AR: less expensive homes
- Johnsonville, WI: higher priced homes
- Jericho, WI: higher priced homes
- Jachin, AL: less expensive homes
- Ivytown, MD: higher priced homes
- Isaban, WV: less expensive homes
- Inez, PA: higher priced homes
- Indiantown, MI: less expensive homes
- Indian Mills, WV: equally priced homes
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