$1,025 Per Month
- 2 Beds
- 1 Bath
- Condo for Rent
116 Charles Ct Unit 116 Charles Ct DOWN, Elyria, OH 44035
Frequently Asked Questions
How much does it cost to rent a condo in Elyria, OH?
The median rent for a condo in Elyria, OH is $950 per month, though prices vary by neighborhood, size, and property type. As of August 2026, condos tend to be the most affordable option while single-family homes and townhouses are currently more expensive.
How much do you need to make to afford rent in Elyria, OH?
To comfortably afford the median rent in Elyria, OH, a household needs to earn roughly $49,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,225 per month in Elyria, OH, renters typically need to show $3,675 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Elyria, OH?
In Elyria, OH, the price-to-rent ratio is 14.6, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Elyria, OH are best for renting a condo?
The best neighborhood for renting in Elyria, OH depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a condo include Kamm's Corners and Jefferson, each with its own character and price range.
