Bankruptcy Homes in Lima, OH

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Home Value Estimator For Lima, OH

There are currently 22,942 real estate properties in Lima, OH, with a median automated valuation model (AVM) price of $140,278.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Lima, OH, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Lima, OH, is $163,485.00, with the most expensive house in Lima, OH, topping out at $3,058,560.00 and the cheapest home in Lima, OH, clocking in at $10,296.00. In other words, there’s something for every potential homebuyer or savvy investor in Lima, OH!

Rent Prices In Lima, OH

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Lima, OH, is on a rollercoaster ride. The average rent price in Lima, OH, is $1,081.00. Indeed, when looking to rent in Lima, OH, you can expect to pay as little as $450.00 or as much as $2,260.00, with the average rent median estimated to be $1,060.00. The good news is that finding an affordable and desirable property to rent in Lima, OH -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Top Reasons To Live In Lima, OH In 2024

Lima is located in Allen, Ohio, with an estimated municipal population of 36,659 residents. All of the best foreclosed homes for sale in Lima are located in the following zip code areas on 45805 45801 45804. The estimated population per square kilometer (.62 miles) in Lima is 1,045.

Cost Of Living In Lima, OH

So, about how much do homes cost in Lima? The most recent median value of resident-owned homes in Lima is 65,255. An estimated 47.3 percent of households in Lima own their homes, with an average family size of 3.08. The median household income in Lima is 35,799, with7.1 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Lima, the median commute time of resident workers (in minutes) is 18.3. And last, but certainly not least, are you looking for homes to rent in Lima? If so, the average rent price paid by renters in Lima is 667, according to recent statistics.

Diversity And Demographics In Lima, Ohio

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Lima, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Lima is 33.4, split between 51.9 percent male versus 48.1 female. The percentage of residents who report being married in Lima is 30.5, with an average family size of 3.08.

The percentage of residents who report their race in Lima is as follows:

White 64.8%
Black / African American 25.4%
Asian 0.8%
American Indian / Alaskan Native 0.3%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 6.8%
Other 1.8%

Looking for family-friendly neighborhoods in and/or near Lima? Or maybe you are searching for 55+ active adult communities in and/or near Lima?

The percentage of residents who report their age in Lima is as follows:

Under 10 15.2%
Aged 10-19 13.7%
20s 16.7%
30s 12.5%
40s 12.2%
50s 11.8%
60s 9.8%
70s 4.8%
80+ 3.6%

Best Schools In Lima, Ohio

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Lima with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Lima.

Pros And Cons Of Living In Lima, Ohio

How do you know that living in -- or moving to -- Lima is right where you need to be? Perhaps you grew up in Lima or already live nearby; therefore, the decision to buy a home in Lima is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Lima for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Lima:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Lima.

Reasons To Move To Lima, Ohio, In 2024

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Lima can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Lima, meanwhile, can field multiple offers from more qualified buyers.

Lima, OH Bankruptcy Homes


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