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These days, finding an affordable place to live in the Sheffield Lake area can be challenging. Home prices in Sheffield Lake are now at a median cost of $163,553, lower than the Ohio average of $236,816.
The average cost of rent is $1,123/mo in Sheffield Lake, primarily driven by the current value of real estate in the Sheffield Lake area. In Sheffield Lake, 31.71% of households rent, and 39.58% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Sheffield Lake is $5,671 per month. Households that rent pay about 19.80% of their income on rent here. Sheffield Lake’s most expensive areas are in the western regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Sheffield, OH: higher priced homes
- Lorain, OH: less expensive homes
- Avon Lake, OH: higher priced homes
- Avon, OH: higher priced homes
- Elyria, OH: equally priced homes
- North Ridgeville, OH: higher priced homes
- Amherst, OH: higher priced homes
- Bay Village, OH: higher priced homes
- Westlake, OH: higher priced homes
- Fields, OH: higher priced homes
Cities with Similar Populations
- Gonzales, TX: higher priced homes
- Strawberry Plains, TN: higher priced homes
- Stratmoor, CO: higher priced homes
- Stokesdale, NC: higher priced homes
- Stilwell, OK: less expensive homes
- Stewartstown, PA: higher priced homes
- Ste. Genevieve, MO: higher priced homes
- Stayton, OR: higher priced homes
- Stanford, KY: equally priced homes
- Stafford Springs, CT: higher priced homes
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