Rent To Own Homes in Sheffield Lake, OH

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View this home at Grantwood Ave Sheffield Lake OH 44054
Grantwood Ave
Sheffield Lake, OH 44054
AUCTION: 06-05-2024
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Home Value Estimator For Sheffield Lake, OH

There are currently 3,511 real estate properties in Sheffield Lake, OH, with a median automated valuation model (AVM) price of $180,367.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Sheffield Lake, 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 Sheffield Lake, OH, is $201,178.00, with the most expensive house in Sheffield Lake, OH, topping out at $2,485,290.00 and the cheapest home in Sheffield Lake, OH, clocking in at $22,000.00. In other words, there’s something for every potential homebuyer or savvy investor in Sheffield Lake, OH!

Rent Prices In Sheffield Lake, OH

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Sheffield Lake, OH, is on a rollercoaster ride. The average rent price in Sheffield Lake, OH, is $1,181.00. Indeed, when looking to rent in Sheffield Lake, OH, you can expect to pay as little as $620.00 or as much as $2,700.00, with the average rent median estimated to be $1,120.00. The good news is that finding an affordable and desirable property to rent in Sheffield Lake, 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 Sheffield Lake, OH In 2024

Sheffield Lake is located in Lorain, Ohio, with an estimated municipal population of 8,916 residents. All of the best foreclosed homes for sale in Sheffield Lake are located in the following zip code areas on 44054. The estimated population per square kilometer (.62 miles) in Sheffield Lake is 1,390.

Cost Of Living In Sheffield Lake, OH

So, about how much do homes cost in Sheffield Lake? The most recent median value of resident-owned homes in Sheffield Lake is 111,593. An estimated 78.4 percent of households in Sheffield Lake own their homes, with an average family size of 3.03. The median household income in Sheffield Lake is 62,292, with20.6 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Sheffield Lake, the median commute time of resident workers (in minutes) is 28.8. And last, but certainly not least, are you looking for homes to rent in Sheffield Lake? If so, the average rent price paid by renters in Sheffield Lake is 881, according to recent statistics.

Diversity And Demographics In Sheffield Lake, 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 Sheffield Lake, 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 Sheffield Lake is 41.3, split between 51.7 percent male versus 48.3 female. The percentage of residents who report being married in Sheffield Lake is 45.6, with an average family size of 3.03.

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

White 92.8%
Black / African American 1.1%
Asian 0%
American Indian / Alaskan Native 0.2%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 5.4%
Other 0.5%

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

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

Under 10 8.6%
Aged 10-19 14.7%
20s 11.3%
30s 13.9%
40s 12%
50s 14.4%
60s 14.8%
70s 7.8%
80+ 2.7%

Best Schools In Sheffield Lake, 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 Sheffield Lake with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Sheffield Lake.

Pros And Cons Of Living In Sheffield Lake, Ohio

How do you know that living in -- or moving to -- Sheffield Lake is right where you need to be? Perhaps you grew up in Sheffield Lake or already live nearby; therefore, the decision to buy a home in Sheffield Lake is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Sheffield Lake 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 Sheffield Lake:

  • 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 Sheffield Lake.

Reasons To Move To Sheffield Lake, 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 Sheffield Lake can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Sheffield Lake, meanwhile, can field multiple offers from more qualified buyers.

Sheffield Lake, OH Rent To Own Homes


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