Median price for residential apartments in Lorain, OH as of Jan, 2023.
Take into account that the price depends on the location and condition of the apartment. The size and amenities might have a large influence on the asking price as well.
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524 Lorain, OH, USA apartments for sale
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Lorain
According to statistics, the population in Lorain, OH amounts to 63,731, which shows decline 0% compared to the previous year. The median age of the city’s residents is 38. The average household income is $36,139, shifting growth 1% from the past year, and the average property value in Lorain, OH decline -2% to $84,300 throughout the year.
| Population | 63,731 |
| Median Age | 37.6 |
| Poverty Rate | 25% |
| Household Income | $36,139 |
| Number Of Employees | 25,819 |
| Median Property Value | $84,300 |
Household Income
The average household income in Lorain, OH grew from $35,753 to $36,139 in the past year. This data is an estimate based upon 25,330 households in Lorain, OH . The chart below presents how household income is distributed in Lorain, OH in comparison to the revenue allocation amid households nationally.
Property Value
According to data from last year, the average property value in Lorain, OH shifted from $85,700 to $84,300 throughout the year. The subsequent graph indicates the share of properties in the given price range in Lorain, OH in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Lorain, OH properties falls in the '$60,000 to $69,999' range, which is lower than the most significant median property across the country.
Rent vs. Own
Property Taxes
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Lorain, OH compared to median property taxes around the country. The prevalent amount of property taxes in Lorain, OH equals $1150, which is less than the national average.
Housing Trends
How much does an apartment cost in Lorain, OH, USA
Average apartment sale in Lorain: $152,677 (+1.7%)
| Apartment Size | Jan | vs Last Month |
|---|---|---|
| Studio apartments | $48,486 | -27.4% |
| 2-bed apartments | $147,300 | +4.1% |
| 3-bed apartments | $168,323 | -0.4% |
| 4+ bed apartments | $129,529 | +4% |
During Jan 2023, the average price for an apartment in/near Lorain, OH increased by 1.7% to $152,677.
Knowing the current property prices is key if you plan to buy a studio in Lorain, OH. The average price for a studio has decreased since the last month, currently being $48,486. Asking price for 2-bed apartment also increased by 4.1% and a place of this size will now cost you $147,300. A 3-bed apartment goes for $168,323, it decreased by 0.4% lately. We discerned the rise of 4- and more bed apartment price. It increased by 4% and made it up to $129,529.
| Listing Type | Jan | vs Last Month |
|---|---|---|
| Townhouses for sale | $316,700 | +0% |
| Land for sale | $49,900 | -25.3% |
| Houses for sale | $147,780 | +1.7% |
| Condos for sale | $85,000 | -12.8% |
| Lofts for sale | $475,000 | +0% |
| Duplexes for sale | $117,200 | +0% |
| Apartments for sale | $40,000 | N/A |
While assessing the property pricing Lorain, OH, you can note that it remains flat with a price tag of $40,000. Price reports demonstrate that house price increased by 1.7% this month making it up to $147,780. Condos faced an upward trend these days. The median price for a condo decreased by 12.8%, it’s now available for $85,000. An average value of duplex is $117,200, thus a median price for a duplex remains the same this month. The price statistics of lofts have not significantly changed, it now still goes for $475,000. Value of the townhouses didn’t change, the price still starts at $316,700. The average price of the land for sale in Lorain, OH has decreased by 25.3%, and now equals $49,900.
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