Lorain, OH Cost Of Living
Cost Of Living In Lorain, OH Summary
Cost of living in Lorain research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Lorain is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Ohio, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Lorain is 87, with 100 being the average.
The cost of living index in Lorain is 0.9x lower than the national average.
Lorain ranks as the #89 cheapest in Ohio out of 286.
Lorain ranks as the #1,101 cheapest out of 6,412 in the US.
The median home value in Lorain is $97,000.
The median income in Lorain is $42,201.
Table Of Contents
Lorain's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Lorain, OH?
According to the most recent data on the cost of living, Lorain has an overall cost of living index of 87, which is 0.9x lower than the national index of 100.
Compared to Ohio, Lorain has a cost of living index that's 1.0x lower than Ohio's index of 91.
The standard of living in Lorain ranks as #89 most affordable out of the 286 places we measured in Ohio. By definition, that implies Lorain ranks as the #197 most expensive place in the Buckeye State.
For more reading on life in Lorain, check out:
- Living In Lorain
- Lorain Crime Report
- Search Homes For Sale In Lorain, OH
In Ohio
In America
Lorain Cost Of Living Vs. Ohio
Six factors go into calculating the cost of living index in Lorain. Here is how it fairs on each of the criteria:
The Services index in Lorain is 103.
The Groceries index in Lorain is 105.
The Health index in Lorain is 108.
The Housing index in Lorain is 52.
The Transportation index in Lorain is 101.
The Utilities index in Lorain is 95.
| Living Expense | Lorain | Ohio | National Average | |
|---|---|---|---|---|
| Overall | 87 | 91 | 100 | |
| Services | 103 | 98 | 100 | |
| Groceries | 105 | 101 | 100 | |
| Health | 108 | 95 | 100 | |
| Housing | 52 | 73 | 100 | |
| Transportation | 101 | 98 | 100 | |
| Utilities | 95 | 93 | 100 | |
Lorain, OH Housing Cost Breakdown
Housing swings affordability the most between places in Ohio, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Lorain is $97,000.
The Median Rent in Lorain is $765.
The Median Income in Lorain is $42,201.
The Home Value To Income in Lorain is 2.3x.
The Rent To Monthly Income in Lorain is 0.22x.
| Statistic | Lorain | Ohio | United States |
|---|---|---|---|
| Median Home Value | $97,000 | $159,900 | $244,900 |
| Median Rent | $765 | $870 | $1,163 |
| Median Income | $42,201 | $61,938 | $69,021 |
| Home Value To Income | 2.3x | 2.6x | 3.5x |
| Rent To Monthly Income | 0.22x | 0.17x | 0.2x |
Median Home Value
Median Rent
Median Income
Lorain, OH Costs By Category
Detailed Lorain Services Costs Vs. Ohio
Detailed Lorain Groceries Costs Vs. Ohio
Detailed Lorain Health Costs Vs. Ohio
Detailed Lorain Transportation Costs Vs. Ohio
Detailed Lorain Utilities Costs Vs. Ohio
Lorain SnackAbility
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Cost Of Living In Cities Around Lorain
The cost of living varies in the cities and towns around Lorain. Here's a quick look at the cost of living in the most populous nearby places:
Elyria, OH has a cost of living index of 86, 1.0x Lorain.
Lakewood, OH has a cost of living index of 95, 1.1x Lorain.
North Ridgeville, OH has a cost of living index of 101, 1.2x Lorain.
| City | Population | Cost Of Living | Vs. Lorain |
|---|---|---|---|
| Elyria, OH | 52,853 | 86 | 1.0x |
| Lakewood, OH | 50,841 | 95 | 1.1x |
| North Ridgeville, OH | 34,883 | 101 | 1.2x |
| Westlake, OH | 34,049 | 109 | 1.3x |
| North Olmsted, OH | 32,371 | 96 | 1.1x |
| Avon Lake, OH | 25,005 | 108 | 1.2x |
| Avon, OH | 24,542 | 113 | 1.3x |
| Rocky River, OH | 21,515 | 102 | 1.2x |
| Fairview Park, OH | 17,167 | 96 | 1.1x |
| Middleburg Heights, OH | 15,975 | 96 | 1.1x |
