1

Studio Apartment for Rent in Sheffield Lake, OH

Section Image
  • 5115 E Lake Rd, Sheffield Lake, OH 44054
    5115 E Lake Rd, Sheffield Lake, OH 44054
    5115 E Lake Rd, Sheffield Lake, OH 44054
    /50

    Starting at $775 Per Month

    • Studio - 3 Beds

    5115 E Lake Rd, Sheffield Lake, OH 44054

    Welcome to The Perch on Lake Sheffield Lake's Only Lakefront High-Rise Living!Nestled along the serene shores of Lake Erie, The Perch on Lake offers a one-of-a-kind living experience you won't find anywhere else in Sheffield Lake. With breathtaking lakefront views and unmatched convenience, you'll never want to leave!Our community provides easy access to I-90, I-80 (Ohio

    The Perch on Lake Apartments

    (440) 616-8580

    5115 E Lake Rd, Sheffield Lake, OH 44054
Ohio Lorain County Sheffield Lake

Studio Homes for Rent in Sheffield Lake, OH

Why Live in Sheffield Lake

Sheffield Lake, Ohio, is a lakeside community known for its Lake Erie beach access and residential charm. Initially a destination for summer homes, the area has evolved into a year-round residential hub with a strong sense of community. Residents enjoy outdoor activities such as swimming, boating, fishing, and jet skiing at the city's five parks, which are set to expand with more bike paths, pedestrian boardwalks, and piers. The public boat ramp is free to use, and Ferndale Park features the Storybook Trail, promoting literacy and exercise for children. Sheffield Lake experiences unpredictable weather, including intense storms and seasonal insect spikes. Housing options include split-level homes, Cape Cods, ranch-style houses, bungalows, and new townhomes in Treadway Ponds. The Buckeye Cove Lake Front Development offers custom home designs. Community events like the annual Community Days festival and craft nights at the library are popular among residents. Highway 6 provides bike lanes and connects Sheffield Lake to Cleveland, which is about 20 miles away. Avon Hospital is 8 miles away, and Cleveland Hopkins International Airport is 21 miles away. The Sheffield-Sheffield Lake School District serves the area, and larger retail and employment opportunities are available in nearby Avon.

Learn more about living in Sheffield Lake

Frequently Asked Questions

How much does it cost to rent a home in Sheffield Lake, OH?
The median rent for a home in Sheffield Lake, OH is $1,747 per month, though prices vary by neighborhood, size, and property type. As of May 2026, single-family homes tend to be the most affordable option.
How much do you need to make to afford rent in Sheffield Lake, OH?
To comfortably afford the median rent in Sheffield Lake, OH, a household needs to earn roughly $69,880 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 $1,747 per month in Sheffield Lake, OH, renters typically need to show $5,241 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 Sheffield Lake, OH?
In Sheffield Lake, OH, the price-to-rent ratio is 10.5, 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.

Rental Home Trends in Sheffield Lake, OH

There are currently 1 homes available for rent in Sheffield Lake, OH. The median rent is $1,747 per month, with single-family homes renting at $1,695.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$1,747
Median Single Family Home Rent
$1,695
How to Rent a Home

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Homes.com Licensing Information

§ 442-H New York Standard Operating Procedures

New York Fair Housing Notice

TREC: Information about brokerage services, Consumer protection notice

California DRE #01937601

Contact Homes.com Brokerage

Copyright © 2026 CoStar Group