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Affordable
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These days, finding an affordable place to live in the Loraine area can be challenging. Home prices in Loraine are now at a median cost of $133,277, lower than the Illinois average of $300,242.
The average cost of rent is $670/mo in Loraine, primarily driven by the current value of real estate in the Loraine area. In Loraine, 13.94% of households rent, and 61.65% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Loraine is $6,391 per month. Households that rent pay about 10.49% of their income on rent here. Loraine’s most expensive areas are in the eastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Mendon, IL: equally priced homes
- West Point, IL: less expensive homes
- Tioga, IL: equally priced homes
- Coatsburg, IL: higher priced homes
- Paloma, IL: higher priced homes
- Lima, IL: higher priced homes
- Ursa, IL: higher priced homes
- Bowen, IL: less expensive homes
- Golden, IL: higher priced homes
- Camp Point, IL: higher priced homes
Cities with Similar Populations
- Center Rutland, VT: higher priced homes
- Churdan, IA: equally priced homes
- Chokio, MN: equally priced homes
- Choccolocco, AL: higher priced homes
- Chillicothe, TX: less expensive homes
- Chicora, MI: higher priced homes
- Chattanooga, OK: higher priced homes
- Charter Oak, IA: less expensive homes
- Chapin, NY: higher priced homes
- Central, UT: higher priced homes
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