Lima, NY—14485
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lima, NY
As of Oct '25, the median home price in Lima, NY is $282,000, with a year-over-year change of 3.9%. This indicates that home prices in Lima, NY are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $282,000 | 3.9% |
| Single Family | $282,000 | 4.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $215,000 | 4.9% |
3 Bed | $276,000 | 3.8% |
4 Bed | $317,000 | 4.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lima, NY
As of July '25, Rentcast reports the average rent in Lima, NY is $1,250, with a year-over-year rent change of -33.5%. Per bedroom, the median rent as of July '25 in Lima, NY is 2-bedrooms: $1,250. The most common rental property sizes in Lima, NY are 2-bedroom and 1-bedroom, accounting for 50.7% and 25.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,250 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,250 | $1,250 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Lima, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Lima, NY is 34. This is a decrease of -23.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $624,000 | 196.0% |
Listing Count | 10 | 21.0% |
| Listings as % of Homes | 0.1% | 21.0% |
Days on Market | 34 | -23.0% |
Demographics — Lima, NY
As of the latest ACS Survey released in 2023, Lima, NY has a population of 4,160, which has increased by 4.4% over the past 5 years. Lima, NY is a moderately popular place for families, as children make up 20.2% of the population. The area has a moderately educated workforce, with 38.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,160 | 4.4% |
% Under 18 | 20.2% | 13.5% |
% Seniors | 14.6% | -14.1% |
% WFH | 8.5% | 183.3% |
% w/ College Degree | 38.2% | 13.4% |
As of the latest ACS Survey released in 2023, Lima, NY is a predominantly white area, with 87.4% of the population identifying as white. The white population has shrunk by 5.4% in the last 5 years. The second most common race or ethnicity in Lima, NY is hispanic, making up 4.4% of the population. Foreign-born residents account for 2.6% of the population in Lima, NY, and this percentage has decreased by 49.0% 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 | 87.4% | -5.4% |
% Black | 0.6% | 20.0% |
% Hispanic | 4.4% | 7.3% |
% Asian | 1.8% | -10.0% |
% Foreign Born | 2.6% | -49.0% |
Mortgage and Risk — Lima, NY
According to HUD data as of 2023, there were 84 mortgage originations in Lima, NY, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Lima, NY. Investor activity is low, as 1.0% 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 | 84 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Lima, NY
Lima, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 19 |
Total Units Section 8 | 19 |
% Rentals under Section 8 | 6.6% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $950 |
| 2 Bedroom | -$70 | $1,250 | $1,180 |
| 3 Bedroom | N/A | N/A | $1,430 |
| 4 Bedroom | N/A | N/A | $1,570 |
Affordability — Lima, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $282,000 |
| Median Household Income | $79,400 |