salaryRent is lower than in 78% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.
How much money do I need?
To rent here comfortably, you should earn about $46,360 a year. That is $22 an hour at a full-time job.
Is rent cheaper than other Ohio cities?
Yes. Rent here is cheaper than in most of Ohio. It is number 102 of 288 cities from cheapest to most expensive.
How much do households earn in Lorain?
Share of households by yearly income. 13.1% of households earn $100,000 or more.
Rent by apartment size in Lorain
| Size | Lorain | U.S. average |
|---|---|---|
| Studio | $624 | $1,338 |
| 1 bedroom | $730 | $1,324 |
| 2 bedrooms | $959 | $1,509 |
| 3 bedrooms | $1,157 | $1,698 |
| 4 bedrooms | $1,129 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Lorain overall?
Everyday prices in Ohio overall are 7% below the U.S. average (index 92.8, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Lorain, so the Ohio figure is shown.
Taxes and bills in Lorain
Life in Lorain
Is it cheaper to rent or buy in Lorain?
Buying is cheaper month to month: about $193 a month less than renting.
Owning assumes a typical $139,200 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $13,920 for the down payment.
Frequently asked questions
What is the average rent in Lorain, OH?
Renting in Lorain costs a median of about $1,159 a month in 2026, including utilities. The Ohio median is $1,261.
How much do I need to make to live in Lorain?
To keep rent under 30% of income, you need about $46,360 a year, or $22 an hour at a full-time job.
Is Lorain cheap or expensive?
Lorain is rated OK: rent takes 26.5% of the typical household income of $52,507. It ranks 102nd cheapest of 288 Ohio cities we track.
How much are property taxes in Lorain?
The median homeowner in Lorain pays $1,708 a year in property taxes, about 1.23% of the median home value.
Is Lorain more expensive than the national average?
Overall prices in Ohio are 7% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Lorain?
The median home value in Lorain is $139,200, about 2.7 times the typical yearly household income.
65,395 people live in Lorain. Numbers are typical (middle) values.