Elyria, Ohio Housing Market Prices
Elyria Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 1% above the Ohio median$140,451
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Median rent 13% below the Ohio median$895
Housing Market Overview
| Metric | Elyria | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $140,451 | $139,044 | $248,835 |
| Price Trend (Annual %) | 9.0% | 6.7% | 7.5% |
| Median Gross Rent | $895 | $1,033 | $1,407 |
| Rent Trend (Annual %) | 3.1% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Elyria is about 1% higher than in Ohio. Rent is about 13% lower than the Ohio average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Elyria, up about 9.0% and 3.1% a year respectively. Home prices are changing faster.
Median rent in Elyria rose about 26.7% between 2015 and 2024, from $706 to $895. Over the same span, rent in Ohio rose about 41.7%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Elyria.
Buying the median-priced home in Elyria costs roughly 13.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Elyria. The price-to-rent ratio in Ohio is about 11.2.
| Metric | Elyria | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $140,451 | $139,044 | $248,835 |
| Median Household Income | $56,829 | $71,509 | $80,455 |
| Price-to-Income Ratio | 2.5 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Elyria rose about 100.8%, while median household income rose about 25.5% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Elyria | Ohio Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.5% | 61.7% | 58.5% |
| Rental Rate | 34.6% | 30.1% | 31.2% |
| Vacancy Rate | 8.9% | 8.1% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Elyria has a homeownership rate of 56.5%, lower than the Ohio average of 61.7%. Its housing vacancy rate is 8.9%, compared with 8.1% in Ohio.
Housing Stock
| Metric | Elyria | Ohio Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.31 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1963 | 1970 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in Elyria was built around 1963. On average, 2.3 people live in a home with about 5.7 rooms, staying for about 13.0 years on average.
Elyria, OH Housing Compared With Nearby Cities
How Elyria, OH compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Elyria, OH | 46,162 | $140,451 #2/3 | $895 #2/3 | 62.0% #2/3 |
| North Ridgeville, OH | 36,625 | $315,060 | $1,115 | 89.8% |
| Lorain, OH | 59,888 | $103,730 | $887 | 58.0% |
Frequently Asked Questions
Common questions about the housing market in Elyria, Ohio.
What is the median home price in Elyria, Ohio?
The median home price in Elyria, Ohio is $140,451, higher than the Ohio average of $139,044.
What is the average home price in Elyria, Ohio?
The typical home price in Elyria, Ohio, reported as the median sale price, is $140,451. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Elyria, Ohio?
The median gross rent in Elyria, Ohio is $895 per month, lower than the Ohio average of $1,033.
What was the median gross rent in Elyria in 2020?
In 2020, the median gross rent in Elyria, Ohio was $738 per month.
What is the price-to-rent ratio in Elyria, Ohio?
The price-to-rent ratio in Elyria, Ohio is about 13.1, meaning it would take roughly 13.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Elyria.
Are home prices or rent rising faster in Elyria, Ohio?
Both home prices and rent are rising in Elyria, up about 9.0% and 3.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Elyria, Ohio?
56.5% of households in Elyria, Ohio own their home, lower than the Ohio average of 61.7%.
What is the vacancy rate in Elyria, Ohio?
The housing vacancy rate in Elyria, Ohio is 8.9%, higher than the Ohio average of 8.1%.
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