There are currently 23,429 real estate properties in LORAIN, OH, with a median automated valuation model (AVM) price of $132,500.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in LORAIN, 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 LORAIN, OH, is $151,508.00, with the most expensive house in LORAIN, OH, topping out at $8,303,100.00 and the cheapest home in LORAIN, OH, clocking in at $15,000.00. In other words, there’s something for every potential homebuyer or savvy investor in LORAIN, OH!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in LORAIN, OH, is on a rollercoaster ride. The average rent price in LORAIN, OH, is $1,003.00. Indeed, when looking to rent in LORAIN, OH, you can expect to pay as little as $470.00 or as much as $2,300.00, with the average rent median estimated to be $990.00. The good news is that finding an affordable and desirable property to rent in LORAIN, 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.
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