Lorain, OH is a great city to consider for housing. The median housing value in Lorain is significantly lower than the US House Median Value of $338,100, making it an attractive option. Additionally, the appreciation rate on houses in Lorain was 10.26% compared to 8.27% nationally over the past year, suggesting that real estate investments can be a great option in this area. With its low cost and relatively high appreciation rate, Lorain should definitely be considered for potential housing purchases.
The median home cost in Lorain is $113,400. Home appreciation the last 10 years has been 69.3%. Home Appreciation in Lorain is up 13.4%.
Average Age of Homes
- The median age of Lorain real estate is 57 years old
The Rental Market in Lorain
- Renters make up 35.9% of the Lorain population
- 2.3% of houses and apartments in Lorain, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.