Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Lorain area can be challenging. Home prices in Lorain are now at a median cost of $106,564, lower than the Ohio average of $181,280.
The average cost of rent is $793/mo in Lorain, primarily driven by the current value of real estate in the Lorain area. While nearly 42.67% of residents own their homes outright in Lorain, 44.71% rent.
Housing affordability isn’t just about home prices, though. The average household income in Lorain is $3,842 per month. Households that rent pay about 20.64% of their income on rent here. Lorain's most expensive areas are in the northeastern regions, while the cheapest areas are in the northwestern parts of the city.
Nearby Cities
- Amherst, OH: higher priced homes
- Sheffield Lake, OH: higher priced homes
- Sheffield, OH: higher priced homes
- Elyria, OH: equally priced homes
- Fields, OH: higher priced homes
- South Amherst, OH: higher priced homes
- Avon, OH: higher priced homes
- North Ridgeville, OH: higher priced homes
- Avon Lake, OH: higher priced homes
- Vermilion, OH: higher priced homes
Cities with Similar Populations
- Brentwood, CA: higher priced homes
- Casa Grande, AZ: higher priced homes
- Casper, WY: higher priced homes
- Castro Valley, CA: higher priced homes
- Cookeville, TN: higher priced homes
- Doral, FL: higher priced homes
- The Villages, FL: higher priced homes
- Mechanicsville, VA: higher priced homes
- Niagara Falls, NY: equally priced homes
- North Little Rock, AR: higher priced homes
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