Lorain, Ohio Income Statistics
Lorain Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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D
Lorain Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Lorain | Ohio Avg | US Average |
|---|---|---|---|
| Median Household Income | $49,076 | $71,509 | $80,455 |
| Median Personal Income | $44,364 | $58,431 | $60,758 |
| Average Yearly Income Growth | 4.2% | 4.4% | 4.8% |
| Six-Figure Earners | 5.4% | 11.1% | 13.9% |
| $200k+ Households | 2.1% | 9.1% | 13.2% |
The median household income in Lorain is about 31% lower than in Ohio. Income has been growing slower in Lorain (4.2%/yr) than in Ohio (4.4%/yr).
About 5% of adults in Lorain earn six figures ($100,000 or more) a year, lower than the Ohio average of 11%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Lorain, Ohio grew by 39.3% from 2009 to 2024, reaching $49,076 in 2024. That's an average of about 4.2% per year.
Income Inequality and the Gender Pay Gap in Lorain
| Metric | Lorain | Ohio Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.535 | 0.532 | 0.552 |
| Male Median Income | $52,843 | $67,200 | $69,667 |
| Female Median Income | $41,821 | $54,076 | $56,850 |
| Gender Pay Gap | 20.9% | 19.5% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Lorain, it is 0.535, about the same as Ohio's 0.532, so income here is about as evenly distributed as there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 26% more than women's income in Lorain, Ohio. Over a 35-year career, a 26% wage gap accumulates to roughly $385,770 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lorain, Ohio has narrowed from about 25% to 21% in 2024. Over that period the gap was widest at 26% in 2020, and was narrowest at 13% in 2023. In dollar terms, the gap has widened by $679 since 2009.
Employment
| Metric | Lorain | Ohio Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.1% | 4.8% | 5.2% |
| Working from Home | 6.7% | 13.0% | 15.0% |
| Commute time (minutes) | 21 | 21 | 22 |
Approximately 1,697 people are unemployed in Lorain, Ohio.
The average commute time in Lorain is 21 minutes, about the same as in Ohio.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lorain, Ohio has fallen from 16.3% to 6.1% in 2024. Over that period the rate peaked at 16.4% in 2012.
Lorain, OH Wealth Compared With Nearby Cities
How Lorain, OH compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Lorain, OH | 59,888 | $49,076 #2/2 | 4.2%/yr #1/2 | 6.1% #2/2 | 0.535 #2/2 |
| Elyria, OH | 46,162 | $56,829 | 3.9%/yr | 5.3% | 0.495 |
Conclusion
Considering all these factors, Lorain, Ohio has an overall wealth index grade of D, making it somewhat worse than Ohio, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Lorain, Ohio.
How Rich Is Lorain, Ohio?
Lorain has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $49,076, about 31% lower than the Ohio average of $71,509.
How has median household income changed in Lorain, Ohio?
Between 2009 and 2024, the median household income in Lorain, Ohio rose 39%, from $35,239 to $49,076. Over the same years, income here lagged behind Ohio as a whole: +39% against +51%.
What was the median household income in Lorain in 2023?
In 2023, the median household income in Lorain, Ohio was $46,281, down 1% from $46,779 in 2022. The Ohio median that year was $69,792.
What was the median household income in Lorain in 2020?
In 2020, the median household income in Lorain, Ohio was $40,427. By 2024 it had risen 21% to $49,076.
Is unemployment high in Lorain, Ohio?
Unemployment in Lorain, Ohio is 6.1%, well above the Ohio rate of 4.8%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Lorain, Ohio?
The Gini coefficient in Lorain is 0.535. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Lorain, Ohio?
Since 2009, the income gap between men and women in Lorain, Ohio has narrowed from about 25% to 21% in 2024. Over that period the gap was widest at 26% in 2020, and was narrowest at 13% in 2023. In dollar terms, the gap has widened by $679 since 2009.
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