Lorain, OH Rental Market Trends
Highlights
The average rent for an apartment in Lorain is $651, a 4% increase compared to the previous year, when the average rent was $627.
Average Rent in Lorain, OH
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $651 | 4% | 723 sq. ft. |
The average size for a Lorain, OH apartment is 723 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Lorain, OH Apartment Rent Ranges
- < $50024%
- $501-$70044%
- $701-$1,00032%
Lorain, OH Occupied Housing Units
- Renter-occupied Households37%
- Owner-occupied Households62%
9,520 or 37% of the households in Lorain, OH are renter-occupied while 15,940 or 62% are owner-occupied.
Lorain, OH Rent Trends
| Average Rent | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Jan / 2021 |
|---|---|---|---|---|---|---|---|---|---|
| Lorain, OH | $589 | $589 | $600 | $627 | $621 | $627 | $637 | $643 | $651 |
| National | $1,381 | $1,418 | $1,428 | $1,432 | $1,468 | $1,475 | $1,477 | $1,464 | $1,462 |
How Lorain Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Columbus | $972 | 2% |
| Cincinnati | $1,030 | 2% |
| Northwest Ohio | $802 | 2% |
| Cleveland | $1,134 | 1% |
| Dayton | $829 | 4% |
| Akron | $862 | 3% |
| Lakewood | $940 | 4% |
| Elyria | $787 | 3% |
| Rocky River | $1,058 | 6% |
| Westlake | $1,284 | 5% |
| Lorain | $651 | 4% |
For more information about the Lorain rental trends, check out our monthly rent report
Check out Ohio Cities, Ohio Neighborhoods and Ohio Zip Codes for more details on verified listings, including the Ohio Average Rent.
Curious about listings in your area? Check out our apartments near you for more details!