The Most Affordable Neighborhoods in Painesville on the Lake, OH by Home Value

These days, finding an affordable place to live in the Painesville on the Lake area can be challenging. Home prices in Painesville on the Lake are now at a median cost of $145,500, lower than the Ohio average of $236,816.

The average cost of rent is $860/mo in Painesville on the Lake, primarily driven by the current value of real estate in the Painesville on the Lake area. In Painesville on the Lake, 4.94% of households rent, and 38.15% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Painesville on the Lake is $3,444 per month. Households that rent pay about 24.97% of their income on rent here. Painesville on the Lake’s most expensive areas are in the central 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.

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