Lorain, OH Real Estate
According to census data in the year 2000 there were 28,200 housing units in Lorain.
This represents a 2.4% growth from 27,544 in 1990.
Of those housing units, 28,194 were located in either urbanized areas or urban clusters, and 6 were located in what is classified as a rural area.
Homeownership rate in Lorain is about 61%.
Lorain's vacancy rate, including seasonal lodging, is about 6.4%.
Average household size is 2.57 people.
The majority of houses, apartments or condos in Lorain were built after 1958.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 2.40% |
| One Bedroom | 11.20% |
| Two Bedrooms | 25.30% |
| Three Bedrooms | 47% |
| Four Bedrooms | 11.80% |
| Five Bedrooms or more | 2.20% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.62 |
| Median year structure was built | 1955 |
| Median Value of occupied units | $86,000 |
| Median Price asked for vacant units | $79,700 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.5 |
| Median year structure was built | 1964 |
| Median Monthly Rent asked for vacant units | $428 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.60% |
| Second Mortgage | 8.80% |
| Home Equity Loan | 9.30% |
| Simple Mortgage | 46.70% |
| Debt Free | 34.60% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 17.6% |
