Lorain, OH

Very Low · 52

Ohio · Population 65,207 · Updated March 2026

$839
Median Rent / Month
$45,799
Median Income
$123,500
Median Home Value
$839
Owner Costs / Month

Affordability

How far your income goes in Lorain

22.0%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Ohio

State-level tax rates that affect your costs

3.5%
Income Tax (Top Rate)
5.75%
Sales Tax
1.53%
Property Tax Rate

Estimated Annual Costs

$10,068
Annual Rent
$1,603
State Income Tax
$1,890
Property Tax (est.)

Cost of Living Overview

Lorain is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 52 (where 100 equals the national median), Lorain residents can expect to pay median rent of $839/month while earning a median household income of $45,799/year.

The median home value in Lorain, OH is $123,500, with typical monthly owner costs around $839 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.0% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Ohio has a moderate income tax rate of 3.5%. Combined with a 5.75% sales tax rate and 1.53% effective property tax rate, the overall tax environment is a factor in the total cost of living in Lorain.

Frequently Asked Questions

Common questions about living costs in Lorain

What is the cost of living in Lorain, OH?
The cost of living index in Lorain, OH is 52 (US average = 100). Median monthly rent is $839, median household income is $45,799/year, and the median home value is $123,500.
Is Lorain, OH affordable?
Yes, Lorain is more affordable than the national average with a cost index of 52. The rent-to-income ratio is 22.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Lorain, OH?
The median gross rent in Lorain, OH is $839 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,068.
What is the median household income in Lorain?
The median household income in Lorain, OH is $45,799 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Ohio?
Ohio has a top income tax rate of 3.5%, a sales tax of 5.75%, and an effective property tax rate of 1.53%.