$1,948
Total Monthly Price
- 2 Beds
- 2 Baths
- 1,350 Sq Ft
- Condo for Rent
116 Pierre Place Unit 116, Lima, OH 45805
Frequently Asked Questions
How much does it cost to rent a condo in Lima, OH?
The median rent for a condo in Lima, OH is $1,425 per month, though prices vary by neighborhood, size, and property type. As of June 2026, townhouses tend to be the most affordable option while single-family homes and condos are currently more expensive.
How much do you need to make to afford rent in Lima, OH?
To comfortably afford the median rent in Lima, OH, a household needs to earn roughly $50,000 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 $1,250 per month in Lima, OH, renters typically need to show $3,750 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 Lima, OH?
In Lima, OH, the price-to-rent ratio is 11.7, 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.
