Why Live in Lorain
Lorain is a neighborhood situated on the banks of Lake Erie, offering a mix of suburban homes and lakeside manors. Home styles range from Colonial revival homes to ranch-style, split-levels, modern craftsman, and lakeside townhomes. Residents enjoy affordable living with lower taxes and property values compared to surrounding areas. The neighborhood boasts numerous attractions, including Lakeview Beach, Foxcreek Golf and Racquet Club, and 56 parks managed by the Parks and Recreation department. Downtown Lorain, located along Broadway, features locally owned antique shops, tattoo studios, jewelry stores, and The Lorain Palace Theatre, which hosts live music, movies, and theater performances. Dining options include rustic coffee shops, artisan bakeries, and various restaurants serving Mexican, American, and Italian cuisine. Lorain celebrates its historical and cultural roots with events like the FireFish Art Festival, Vermilion Festival of the Fish, and the Woollybear Festival. Interstate 90 provides easy access to downtown Cleveland, 26 miles east, and Cleveland Hopkins International Airport, 24 miles away. Lorain County Transit operates bus routes connecting downtown Lorain to Elyria. Property crime rates follow national averages. Environmental data indicates potential flooding impacts near the Black River, and winters can be harsh due to lake effect snow, averaging 40 inches per year.
Home Trends in Lorain, OH
On average, homes in Lorain, OH sell after 42 days on the market compared to the national average of 50 days. The median sale price for homes in Lorain, OH over the last 12 months is $154,000, up 8% from the median home sale price over the previous 12 months.
Median Sale Price
$154,000
Median Single Family Sale Price
$150,000
Median Townhouse Sale Price
$161,000
Median 2 Bedroom Sale Price
$129,900
Average Price Per Sq Ft
$116
Number of Homes for Sale
135
Last 12 months Home Sales
726
Median List Price
$155,000
Median Change From 1st List Price
1%
Median Home Sale Price YoY Change
8%