Elyria, OH—44035
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elyria, OH
As of Oct '25, the median home price in Elyria, OH is $179,000, with a year-over-year change of 3.4%. This indicates that home prices in Elyria, OH are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $179,000 | 3.4% |
| Single Family | $179,000 | 2.9% |
| Condos | $158,000 | 3.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $98,000 | 1.0% |
2 Bed | $136,000 | 2.3% |
3 Bed | $177,000 | 3.5% |
4 Bed | $233,000 | 4.0% |
| 5 Bed | $257,000 | 4.5% |
% of Housing Stock
Rental Trends — Elyria, OH
As of July '25, Rentcast reports the average rent in Elyria, OH is $1,070, with a year-over-year rent change of -4.5%. Per bedroom, the median rent as of July '25 in Elyria, OH is studios: $1,200, 1-bedrooms: $760, 2-bedrooms: $1,050, 3-bedrooms: $1,350, 4-bedrooms: $1,580. The most common rental property sizes in Elyria, OH are 2-bedroom and 3-bedroom, accounting for 38.3% and 27.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $939 | $1,070 |
| Studio Rent | $1,200 | $1,200 |
| 1 Bed Rent | $750 | $760 |
| 2 Bed Rent | $939 | $1,050 |
| 3 Bed Rent | $1,350 | $1,350 |
| 4 Bed Rent | $1,500 | $1,580 |
% of Rental Stock
Property Listings — Elyria, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Elyria, OH is 28. This is a decrease of -13.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $197,000 | -7.0% |
Listing Count | 181 | 8.0% |
| Listings as % of Homes | 0.4% | 8.0% |
Days on Market | 28 | -13.0% |
Demographics — Elyria, OH
As of the latest ACS Survey released in 2023, Elyria, OH has a population of 62,000, which has decreased by -2.0% over the past 5 years. Elyria, OH is a moderately popular place for families, as children make up 20.5% of the population. The area has a poorly educated workforce, with 16.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 62,000 | -2.0% |
% Under 18 | 20.5% | -6.8% |
% Seniors | 19.1% | 19.4% |
% WFH | 5.9% | 210.5% |
% w/ College Degree | 16.8% | 5.7% |
As of the latest ACS Survey released in 2023, Elyria, OH is a predominantly white area, with 70.5% of the population identifying as white. The white population has shrunk by 6.9% in the last 5 years. The second most common race or ethnicity in Elyria, OH is black, making up 11.6% of the population. Foreign-born residents account for 2.5% of the population in Elyria, OH, and this percentage has increased by 8.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 70.5% | -6.9% |
% Black | 11.6% | -14.1% |
% Hispanic | 9.6% | 77.8% |
% Asian | 1.4% | 55.6% |
% Foreign Born | 2.5% | 8.7% |
Mortgage and Risk — Elyria, OH
According to HUD data as of 2023, there were 1111 mortgage originations in Elyria, OH, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Elyria, OH. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,111 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Elyria, OH
As of 2024, the percent of homes in Elyria, OH under the Section 8 program is 15.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Elyria, OH, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,859 |
Total Units Section 8 | 1,475 |
% Rentals under Section 8 | 15.0% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $130 | $750 | $880 |
| 2 Bedroom | $131 | $939 | $1,070 |
| 3 Bedroom | $30 | $1,350 | $1,380 |
| 4 Bedroom | -$20 | $1,500 | $1,480 |
Affordability — Elyria, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $179,000 |
| Median Household Income | $54,400 |