Why Live in Lorain
Lorain, Ohio, is a city transitioning from its industrial roots to a more diverse community with a focus on arts and culture. Located on the banks of Lake Erie, Lorain offers a variety of home styles, including Colonial revival, ranch-style, split-level, modern craftsman, and lakeside townhomes. The city is known for its affordability, with property values and taxes lower than surrounding areas. Lorain City School District has a graduation rate of 71% and a student-teacher ratio of 16:1. The city boasts numerous attractions, including 56 parks managed by the Parks and Recreation department, Lakeview Beach, and Foxcreek Golf and Racquet Club. Indoor activities often center around the Lorain Public Library, which features the Toni Morrison Reading Room. Downtown Lorain, located near Lake Erie and the Black River, offers shopping, dining, and entertainment options such as The Lorain Palace Theatre. The city hosts various festivals throughout the year, including the FireFish Art Festival and the Woollybear Festival. Lorain is conveniently connected to downtown Cleveland, 26 miles away, via Interstate 90, and the Cleveland Hopkins International Airport is 24 miles away. Properties near the Black River may face some flood risks, and the city experiences all four seasons, with harsh winters due to the lake effect, averaging 40 inches of snow annually.
Home Trends in Lorain, OH
On average, homes in Lorain, OH sell after 69 days on the market compared to the national average of 70 days. The median sale price for homes in Lorain, OH over the last 12 months is $280,000, down 2% from the median home sale price over the previous 12 months.
Median Sale Price
$280,000
Median Single Family Sale Price
$280,000
Median Townhouse Sale Price
$225,580
Median 2 Bedroom Sale Price
$145,000
Average Price Per Sq Ft
$163
Number of Homes for Sale
13
Last 12 months Home Sales
172
Median List Price
$232,900
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
-2%