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Lima, OH—45801

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$143,000
1.6% YoY Growth
Household Income
$47,400
16.0% YoY Growth
Days on Market
86
34.0% Longer YoY
Home Price Forecast
1.4%
Median Rent
$1,200
8.0% YoY Growth
1-Bed Rent
N/A
N/A
2-Bed Rent
$1,180
0.9% YoY Growth
3-Bed Rent
$1,300
10.2% YoY Growth

Other Zip Codes in Lima, OH

4580445805
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Lima, OH

As of May '26, the median home price in Lima, OH is $143,000, with a year-over-year change of 1.6%. This indicates that home prices in Lima, OH are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$143,0001.6%
Single Family $141,0001.4%
Condos $296,0009.6%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$99,000-2.0%
    3 Bed
    		$153,0002.7%
    4 Bed
    		$189,0005.0%
    5 Bed $237,5344.0%
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    % of Housing Stock

    Studio
    2.4%
    1 Bedroom
    11.2%
    2 Bedrooms
    27.9%
    3 Bedrooms
    45.5%
    4 Bedrooms
    10.0%
    5+ Bedrooms
    2.9%

    Rental Trends — Lima, OH

    As of July '25, Rentcast reports the average rent in Lima, OH is $1,220, with a year-over-year rent change of 8.0%. Per bedroom, the median rent as of July '25 in Lima, OH is 2-bedrooms: $1,150, 3-bedrooms: $1,510, 4-bedrooms: $610. The most common rental property sizes in Lima, OH are 2-bedroom and 3-bedroom, accounting for 36.1% and 31.0% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,200$1,220
    Studio Rent N/AN/A
    1 Bed Rent N/AN/A
    2 Bed Rent $1,180$1,150
    3 Bed Rent $1,300$1,510
    4 Bed Rent $465$610
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    % of Rental Stock

    Studio
    5.2%
    1 Bedroom
    22.9%
    2 Bedrooms
    36.1%
    3 Bedrooms
    31.0%
    4 Bedrooms
    3.7%
    5+ Bedrooms
    1.0%

    Property Listings — Lima, OH

    As of May '26, Realtor.com reports that the median days on market for a home in Lima, OH is 86. This is a increase of 34.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$150,0009.0%
    Listing Count
    		656.0%
    Listings as % of Homes0.5%6.0%
    Days on Market
    		8634.0%
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    Demographics — Lima, OH

    As of the latest ACS Survey released in 2023, Lima, OH has a population of 21,400, which has decreased by -5.5% over the past 5 years. Lima, OH is a moderately popular place for families, as children make up 22.3% of the population. The area has a poorly educated workforce, with 11.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.2% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		21,400-5.5%
    % Under 18
    		22.3%-9.3%
    % Seniors
    		15.7%28.7%
    % WFH
    		3.2%60.0%
    % w/ College Degree
    		11.9%-5.6%
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    As of the latest ACS Survey released in 2023, Lima, OH is a predominantly white area, with 70.8% of the population identifying as white. The white population has shrunk by 6.7% in the last 5 years. The second most common race or ethnicity in Lima, OH is black, making up 14.5% of the population. Foreign-born residents account for 2.4% 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

    MetricLatest Census5-Year % Change
    % White
    		70.8%-6.7%
    % Black
    		14.5%-2.7%
    % Hispanic
    		5.8%65.7%
    % Asian
    		1.2%200.0%
    % Foreign Born
    		2.4%166.7%
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    Mortgage and Risk — Lima, OH

    According to HUD data as of 2023, there were 319 mortgage originations in Lima, OH, of which 77.0% 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 Lima, OH. Investor activity is low, as 3.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		319
    % Conventional Loans
    		77.0%
    % Government Loans
    		23.0%
    % Investor Loans
    		3.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		13.0%
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    Rentals and Section 8 — Lima, OH

    Lima, OH lacks sufficient Section 8 program data for analysis.

    Section 8 Market Size

    Total Units under HUD
    		1,001
    Total Units Section 8
    		876
    % Rentals under Section 8
    		23.5%
    % Occupied Section 8
    		93.1%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 BedroomN/AN/A$750
    2 Bedroom-$190$1,180$990
    3 Bedroom-$100$1,300$1,200
    4 Bedroom$895$465$1,360

    Affordability — Lima, OH

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.6
    Median Home Price$143,000
    Median Household Income$47,400

    Lima, OH — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    Frequently Asked Questions