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Lima, OH—45804

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$81,000
3.3% YoY Growth
Household Income
$42,600
30.4% YoY Growth
Days on Market
80
89.0% Longer YoY
Home Price Forecast
0.6%
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

4580145805
  • 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 $81,000, with a year-over-year change of 3.3%. This indicates that home prices in Lima, OH are increasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$81,0003.3%
Single Family $78,0002.6%
Condos $149,0007.2%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$67,0000.0%
    3 Bed
    		$87,0003.6%
    4 Bed
    		$116,0008.4%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    0.6%
    1 Bedroom
    8.9%
    2 Bedrooms
    29.4%
    3 Bedrooms
    44.5%
    4 Bedrooms
    14.7%
    5+ Bedrooms
    1.9%

    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.

    TypeMedian RentAverage Rent
    Average Rent$895$1,080
    Studio Rent N/AN/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 May '26, Realtor.com reports that the median days on market for a home in Lima, OH is 80. This is a increase of 89.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$102,0000.0%
    Listing Count
    		4728.0%
    Listings as % of Homes0.5%28.0%
    Days on Market
    		8089.0%
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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.

    MetricLatest CensusYoY % 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

    MetricLatest Census5-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

    MetricZip 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 SizeHUD PremiumMarket RentMax 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

    Affordability — Lima, OH

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio1.8
    Median Home Price$81,000
    Median Household Income$42,600

    Lima, OH — ZIP Code Boundary Map

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    Frequently Asked Questions