Lorain, OH 44053 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Lorain, OH—44053

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$233,000

4.1% YoY Growth

Household Income

$65,300

37.2% YoY Growth

Days on Market

35.0% Shorter YoY

Home Price Forecast

2.8%

Median Rent

$900

1.0% YoY Growth

1-Bed Rent

$700

8.2% YoY Growth

2-Bed Rent

$1,020

1.0% YoY Growth

3-Bed Rent

$1,450

N/A

Other Zip Codes in Lorain, OH

44055 44052

Home Price Trends — Lorain, OH

As of Dec '25, the median home price in Lorain, OH is $233,000, with a year-over-year change of 4.1%. This indicates that home prices in Lorain, OH are increasing. According to Zillow, the 1-year price projection is 2.8%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$233,000	4.1%
Single Family	$239,000	4.4%
Condos	$131,000	1.6%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Lorain, OH

As of July '25, Rentcast reports the average rent in Lorain, OH is $1,030, with a year-over-year rent change of -1.0%. Per bedroom, the median rent as of July '25 in Lorain, OH is studios: $842, 1-bedrooms: $722, 2-bedrooms: $1,040, 3-bedrooms: $1,520, 4-bedrooms: $2,700. The most common rental property sizes in Lorain, OH are 2-bedroom and 1-bedroom, accounting for 37.5% and 29.6% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$900	$1,030
Studio Rent	$825	$842
1 Bed Rent	$700	$722
2 Bed Rent	$1,020	$1,040
3 Bed Rent	$1,450	$1,520
4 Bed Rent	$2,700	$2,700

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% of Rental Stock

Studio

9.1%

1 Bedroom

29.6%

2 Bedrooms

37.5%

3 Bedrooms

18.3%

4 Bedrooms

3.2%

5+ Bedrooms

2.3%

Property Listings — Lorain, OH

As of Dec '25, Realtor.com reports that the median days on market for a home in Lorain, OH is 32. This is a decrease of -26.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$235,000	11.0%
Listing Count	55	-9.0%
Listings as % of Homes	0.5%	-9.0%
Days on Market	46	-35.0%

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Demographics — Lorain, OH

As of the latest ACS Survey released in 2023, Lorain, OH has a population of 21,300, which has increased by 12.5% over the past 5 years. Lorain, OH is a moderately popular place for families, as children make up 24.4% of the population. The area has a poorly educated workforce, with 20.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.3% reporting working from home.

Metric	Latest Census	YoY % Change
Population	21,300	12.5%
% Under 18	24.4%	17.3%
% Seniors	18.7%	-4.6%
% WFH	6.3%	600.0%
% w/ College Degree	20.6%	7.3%

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As of the latest ACS Survey released in 2023, Lorain, OH is a predominantly white area, with 63.5% of the population identifying as white. The white population has shrunk by 3.1% in the last 5 years. The second most common race or ethnicity in Lorain, OH is hispanic, making up 22.0% of the population. Foreign-born residents account for 1.6% of the population in Lorain, OH, and this percentage has decreased by 38.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	63.5%	-3.1%
% Black	12.0%	5.3%
% Hispanic	22.0%	6.3%
% Asian	0.2%	-87.5%
% Foreign Born	1.6%	-38.5%

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Mortgage and Risk — Lorain, OH

According to HUD data as of 2023, there were 432 mortgage originations in Lorain, OH, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Lorain, OH. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	432
% Conventional Loans	71.0%
% Government Loans	29.0%
% Investor Loans	1.0%
% Second Loans	0.0%
% Cash Out Refinance	12.0%

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Rentals and Section 8 — Lorain, OH

As of 2024, the percent of homes in Lorain, OH under the Section 8 program is 18.6%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Lorain, OH, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	611
Total Units Section 8	606
% Rentals under Section 8	18.6%
% Occupied Section 8	93.2%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$140	$700	$840
2 Bedroom	$0	$1,020	$1,020
3 Bedroom	-$140	$1,450	$1,310
4 Bedroom	-$1,290	$2,700	$1,410

Lorain, OH—44053

Key Metrics at a Glance

Other Zip Codes in Lorain, OH

Home Price Trends — Lorain, OH

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Lorain, OH

% of Rental Stock

Property Listings — Lorain, OH

Demographics — Lorain, OH

Race and Ethnicity

Mortgage and Risk — Lorain, OH

Mortgages

Rentals and Section 8 — Lorain, OH

Section 8 Market Size

Section 8 Opportunity

Affordability — Lorain, OH

Home Price to Income Ratio

Lorain, OH — ZIP Code Boundary Map

Nearby ZIP Codes

Amherst, OH

Lorain, OH

Lorain, OH

Elyria, OH

Sheffield, OH

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.1
Median Home Price	$233,000
Median Household Income	$65,300

Lorain, OH—44053

Key Metrics at a Glance

Other Zip Codes in Lorain, OH

Home Price Trends — Lorain, OH

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Lorain, OH

% of Rental Stock

Property Listings — Lorain, OH

Demographics — Lorain, OH

Race and Ethnicity

Mortgage and Risk — Lorain, OH

Mortgages

Rentals and Section 8 — Lorain, OH

Section 8 Market Size

Section 8 Opportunity

Affordability — Lorain, OH

Home Price to Income Ratio

Lorain, OH — ZIP Code Boundary Map

Nearby ZIP Codes

Amherst, OH

Lorain, OH

Lorain, OH

Elyria, OH

Sheffield, OH

Frequently Asked Questions

What is the average home price in Lorain, OH 44053?

How have home prices in Lorain, OH 44053 changed over the past year?

What is the home price projection for Lorain, OH 44053?

What are the demographics of Lorain, OH 44053?

How long does it take homes to sell in Lorain, OH 44053?

What is the average rent price in Lorain, OH 44053?