Quick facts: Avon lake, OH

Quick Facts

96.4
Cost of Living
below US average
25,617
Population
5.07
Crime Rate per 1000
below US average
$103,946
Median Income
above US average
$516,500
Median House Price
above US average
$2310.67
Average Rent
above US average
Poverty rate Data is updating, will be available soon
4.0%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $103,946.

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Income Needed to Buy

βœ— Stretch
$162k/year
Based on $516,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $162k vs median $103,946
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Income Needed to Rent

βœ“ Affordable
$99k/year
Based on $2310.67/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($103,946) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Avon lake, OH

Avon Lake is a charming suburban city located in Lorain County, Ohio, and is part of the Greater Cleveland area. Nestled along the shores of Lake Erie, the city boasts picturesque waterfront views, a strong sense of community, and a blend of residential and recreational spaces. With a population of around 23,000, it provides a peaceful, family-friendly atmosphere while still being in proximity to the urban amenities of Cleveland. The city features well-maintained parks, such as Miller Road Park and the Avon Lake Beach Park, perfect for outdoor activities and relaxing by the lake. Avon Lake is known for its excellent school system, making it an appealing choice for families. Additionally, the city's vibrant local businesses, from cozy cafes to specialty shops, contribute to its welcoming environment. Cultural events, seasonal festivals, and a variety of recreational programs ensure there's always something happening in Avon Lake. The city's easy access to major highways and public transportation allows residents to enjoy both the tranquility of suburban living and the excitement of city life nearby.

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