Loraine is located in Adams, Illinois, with an estimated municipal population of 302 residents. All of the best foreclosed homes for sale in Loraine are located in the following zip code areas on Foreclosure.com: 62349. The estimated population per square kilometer (.62 miles) in Loraine is 138.
So, about how much do homes cost in Loraine? The most recent median value of resident-owned homes in Loraine is 86,868. An estimated 80.6 percent of households in Loraine own their homes, with an average family size of 3.29. The median household income in Loraine is 51,818, with9.7 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Loraine, the median commute time of resident workers (in minutes) is 25.1. And last, but certainly not least, are you looking for homes to rent in Loraine? If so, the average rent price paid by renters in Loraine is 618, according to recent statistics.
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 Loraine, 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 Loraine is 35.4, split between 49.7 percent male versus 50.3 female. The percentage of residents who report being married in Loraine is 51.6, with an average family size of 3.29.
The percentage of residents who report their race in Loraine is as follows:
| White | 97.2% |
| Black / African American | 0% |
| Asian | 0% |
| American Indian / Alaskan Native | 0% |
| Native Hawaiian / Other Pacifc Islander | 0% |
| Multi-racial | 0.6% |
| Other | 2.2% |
Looking for family-friendly neighborhoods in and/or near Loraine? Or maybe you are searching for 55+ active adult communities in and/or near Loraine?
The percentage of residents who report their age in Loraine is as follows:
| Under 10 | 21.8% |
| Aged 10-19 | 7.2% |
| 20s | 11.6% |
| 30s | 17.4% |
| 40s | 8.6% |
| 50s | 11.8% |
| 60s | 8.8% |
| 70s | 8% |
| 80+ | 4.7% |
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 Loraine with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Loraine.
How do you know that living in -- or moving to -- Loraine is right where you need to be? Perhaps you grew up in Loraine or already live nearby; therefore, the decision to buy a home in Loraine is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Loraine 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 Loraine:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Loraine.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Loraine can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Loraine, meanwhile, can field multiple offers from more qualified buyers.
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