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Lorain, OH—44055

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$131,000
4.0% YoY Growth
Household Income
$36,600
16.2% YoY Growth
Days on Market
46
1.0% Shorter YoY
Home Price Forecast
2.2%
Median Rent
$1,180
11.4% YoY Growth
1-Bed Rent
$795
16.3% YoY Growth
2-Bed Rent
$895
6.3% YoY Growth
3-Bed Rent
$1,390
8.1% YoY Growth

Other Zip Codes in Lorain, OH

4405244053
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Lorain, OH

As of May '26, the median home price in Lorain, OH is $131,000, with a year-over-year change of 4.0%. This indicates that home prices in Lorain, OH are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$131,0004.0%
Single Family $131,0004.8%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$109,0006.9%
    3 Bed
    		$137,0006.2%
    4 Bed
    		$137,0003.0%
    5 Bed $149,2762.4%
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    % of Housing Stock

    Studio
    4.1%
    1 Bedroom
    6.1%
    2 Bedrooms
    24.6%
    3 Bedrooms
    51.9%
    4 Bedrooms
    11.5%
    5+ Bedrooms
    1.8%

    Rental Trends — Lorain, OH

    As of July '25, Rentcast reports the average rent in Lorain, OH is $1,170, with a year-over-year rent change of 11.4%. Per bedroom, the median rent as of July '25 in Lorain, OH is studios: $612, 1-bedrooms: $812, 2-bedrooms: $933, 3-bedrooms: $1,330, 4-bedrooms: $1,480. The most common rental property sizes in Lorain, OH are 3-bedroom and 2-bedroom, accounting for 42.0% and 34.6% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,180$1,170
    Studio Rent $575$612
    1 Bed Rent $795$812
    2 Bed Rent $895$933
    3 Bed Rent $1,390$1,330
    4 Bed Rent $1,490$1,480
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    % of Rental Stock

    Studio
    3.6%
    1 Bedroom
    8.7%
    2 Bedrooms
    34.6%
    3 Bedrooms
    42.0%
    4 Bedrooms
    10.7%
    5+ Bedrooms
    0.4%

    Property Listings — Lorain, OH

    As of May '26, Realtor.com reports that the median days on market for a home in Lorain, OH is 46. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$122,0006.0%
    Listing Count
    		36-5.0%
    Listings as % of Homes0.4%-5.0%
    Days on Market
    		46-1.0%
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    Demographics — Lorain, OH

    As of the latest ACS Survey released in 2023, Lorain, OH has a population of 19,900, which has remained stable by -0.4% over the past 5 years. Lorain, OH is a moderately popular place for families, as children make up 22.8% of the population. The area has a poorly educated workforce, with 9.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.1% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		19,900-0.4%
    % Under 18
    		22.8%-12.3%
    % Seniors
    		15.0%-1.3%
    % WFH
    		4.1%310.0%
    % w/ College Degree
    		9.6%18.5%
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    As of the latest ACS Survey released in 2023, Lorain, OH is a predominantly white area, with 41.3% of the population identifying as white. The white population has grown by 0.7% in the last 5 years. The second most common race or ethnicity in Lorain, OH is hispanic, making up 36.6% of the population. Foreign-born residents account for 4.4% of the population in Lorain, OH, and this percentage has increased by 25.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		41.3%0.7%
    % Black
    		14.1%-23.8%
    % Hispanic
    		36.6%-12.0%
    % Asian
    		0.8%14.3%
    % Foreign Born
    		4.4%25.7%
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    Mortgage and Risk — Lorain, OH

    According to HUD data as of 2023, there were 222 mortgage originations in Lorain, OH, of which 57.0% of loans were conventional mortgages. The average loan-to-value was 77.0%, with 47.0% above 90% LTV (very high). This implies large mortgage risk in Lorain, OH. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		222
    % Conventional Loans
    		57.0%
    % Government Loans
    		43.0%
    % Investor Loans
    		2.0%
    % 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 26.6%. 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 and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Lorain, OH, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		1,165
    Total Units Section 8
    		1,000
    % Rentals under Section 8
    		26.6%
    % Occupied Section 8
    		89.9%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$95$795$890
    2 Bedroom$185$895$1,080
    3 Bedroom$0$1,390$1,390
    4 Bedroom$0$1,490$1,490

    Affordability — Lorain, OH

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3
    Median Home Price$131,000
    Median Household Income$36,600

    Lorain, OH — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Lorain, OH

    44052

    Sheffield, OH

    44054

    Elyria, OH

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    Avon, OH

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    Frequently Asked Questions