Lorain, OH County is a great place to live, work, and play. The county is home to a variety of businesses that range from manufacturing and healthcare to retail stores. The cost of living in Lorain County is quite affordable compared to other counties in the US. The average 2 bedroom rent costs $1,000 per month whereas the national average for a 2 bedroom rental is $1,430. Similarly, grocery index cost for Lorain County is 98 which is lower than the US at 100. Therefore, residents can enjoy the many comforts of community living without worrying too much about their finances. Companies such as Invacare Corporation , UH Elyria Medical Center, Lorain Community College and Bendix Commercial Vehicle Systems LLC are just some of the major employers that contribute to this thriving economy.
Lorain County has an unemployment rate of 4.2%. The US average is 6.0%.
Lorain County has seen the job market decrease by -10.0% over the last year. Future job growth over the next ten years is predicted to be 24.7%, which is lower than the US average of 33.5%.
Tax Rates for Lorain County
- The Sales Tax Rate for Lorain County is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Lorain County is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lorain County
- The average income of a Lorain County resident is $33,799 a year. The US average is $37,638 a year.
- The Median household income of a Lorain County resident is $62,390 a year. The US average is $69,021 a year.