Lima, OH 45804 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Lima, OH—45804

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$80,000

4.4% YoY Growth

Household Income

$42,600

30.4% YoY Growth

Days on Market

32.0% Longer YoY

Home Price Forecast

4.3%

Median Rent

$895

15.0% YoY Growth

1-Bed Rent

$425

N/A

2-Bed Rent

$875

5.0% YoY Growth

3-Bed Rent

$1,300

16.5% YoY Growth

Other Zip Codes in Lima, OH

45801 45805

Home Price Trends — Lima, OH

As of Dec '25, the median home price in Lima, OH is $80,000, with a year-over-year change of -4.4%. This indicates that home prices in Lima, OH are decreasing. According to Zillow, the 1-year price projection is 4.3%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$80,000	-4.4%
Single Family	$78,000	-3.7%
Condos	$142,000	4.4%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Lima, OH

As of July '25, Rentcast reports the average rent in Lima, OH is $1,080, with a year-over-year rent change of 15.0%. Per bedroom, the median rent as of July '25 in Lima, OH is 1-bedrooms: $425, 2-bedrooms: $853, 3-bedrooms: $1,340, 4-bedrooms: $425. The most common rental property sizes in Lima, OH are 3-bedroom and 2-bedroom, accounting for 38.1% and 26.2% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$895	$1,080
Studio Rent	N/A	N/A
1 Bed Rent	$425	$425
2 Bed Rent	$875	$853
3 Bed Rent	$1,300	$1,340
4 Bed Rent	$425	$425

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% of Rental Stock

Studio

0.7%

1 Bedroom

19.6%

2 Bedrooms

26.2%

3 Bedrooms

38.1%

4 Bedrooms

13.5%

5+ Bedrooms

2.0%

Property Listings — Lima, OH

As of Dec '25, Realtor.com reports that the median days on market for a home in Lima, OH is 50. This is a increase of 158.0% from last year, suggesting that homes are sitting on the market longer 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.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$122,000	-18.0%
Listing Count	44	64.0%
Listings as % of Homes	0.5%	64.0%
Days on Market	38	32.0%

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Demographics — Lima, OH

As of the latest ACS Survey released in 2023, Lima, OH has a population of 14,200, which has decreased by -9.4% over the past 5 years. Lima, OH is a popular place for families, as children make up 25.6% of the population. The area has a poorly educated workforce, with 11.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.3% reporting working from home.

Metric	Latest Census	YoY % Change
Population	14,200	-9.4%
% Under 18	25.6%	-2.7%
% Seniors	18.4%	27.8%
% WFH	3.3%	94.1%
% w/ College Degree	11.1%	50.0%

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As of the latest ACS Survey released in 2023, Lima, OH is a predominantly white area, with 70.9% of the population identifying as white. The white population has grown by 11.3% in the last 5 years. The second most common race or ethnicity in Lima, OH is black, making up 19.1% of the population. Foreign-born residents account for 0.8% of the population in Lima, OH, and this percentage has increased by 166.7% 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	70.9%	11.3%
% Black	19.1%	-33.2%
% Hispanic	2.3%	35.3%
% Asian	0.0%	-100.0%
% Foreign Born	0.8%	166.7%

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Mortgage and Risk — Lima, OH

According to HUD data as of 2023, there were 164 mortgage originations in Lima, OH, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Lima, OH. Investor activity is low, as 9.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	164
% Conventional Loans	81.0%
% Government Loans	19.0%
% Investor Loans	9.0%
% Second Loans	1.0%
% Cash Out Refinance	7.0%

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Rentals and Section 8 — Lima, OH

As of 2024, the percent of homes in Lima, OH under the Section 8 program is 27.6%. 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 and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Lima, OH, because HUD payments exceed market rent, while 3-bedroom units do not.

Section 8 Market Size

Total Units under HUD	765
Total Units Section 8	693
% Rentals under Section 8	27.6%
% Occupied Section 8	94.6%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$325	$425	$750
2 Bedroom	$115	$875	$990
3 Bedroom	-$100	$1,300	$1,200
4 Bedroom	$935	$425	$1,360

Lima, OH—45804

Key Metrics at a Glance

Other Zip Codes in Lima, OH

Home Price Trends — Lima, OH

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Lima, OH

% of Rental Stock

Property Listings — Lima, OH

Demographics — Lima, OH

Race and Ethnicity

Mortgage and Risk — Lima, OH

Mortgages

Rentals and Section 8 — Lima, OH

Section 8 Market Size

Section 8 Opportunity

Affordability — Lima, OH

Home Price to Income Ratio

Lima, OH — ZIP Code Boundary Map

Nearby ZIP Codes

Lima, OH

Fort Shawnee, OH

Lima, OH

Uniopolis

Cairo

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	1.7
Median Home Price	$80,000
Median Household Income	$42,600

Lima, OH—45804

Key Metrics at a Glance

Other Zip Codes in Lima, OH

Home Price Trends — Lima, OH

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Lima, OH

% of Rental Stock

Property Listings — Lima, OH

Demographics — Lima, OH

Race and Ethnicity

Mortgage and Risk — Lima, OH

Mortgages

Rentals and Section 8 — Lima, OH

Section 8 Market Size

Section 8 Opportunity

Affordability — Lima, OH

Home Price to Income Ratio

Lima, OH — ZIP Code Boundary Map

Nearby ZIP Codes

Lima, OH

Fort Shawnee, OH

Lima, OH

Uniopolis

Cairo

Frequently Asked Questions

What is the average home price in Lima, OH 45804?

How have home prices in Lima, OH 45804 changed over the past year?

What is the home price projection for Lima, OH 45804?

What are the demographics of Lima, OH 45804?

How long does it take homes to sell in Lima, OH 45804?

What is the average rent price in Lima, OH 45804?