$1,500 Per Month
- 3 Beds
- 3 Baths
- 1,467 Sq Ft
- House for Rent
127 4th St, Elyria, OH 44035
127 4th St, Elyria, OH 44035
Frequently Asked Questions
How much does it cost to rent a home in Elyria, OH?
The median rent for a home in Elyria, OH is $1,200 per month, though prices vary by neighborhood, size, and property type. As of June 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 $48,000 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 $1,200 per month in Elyria, OH, renters typically need to show $3,600 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 14.9, 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.
