Quick facts: Elyria, OH

Quick Facts

98.0
Cost of Living
below US average
52,908
Population
21.02
Crime Rate per 1000
below US average
$49,569
Median Income
below US average
$229,999
Median House Price
above US average
$1117.45
Average Rent
below US average
15%
Poverty Rate
above US average
4.5%
Unemployment Rate
above 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 $49,569.

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Income Needed to Buy

βœ— Stretch
$72k/year
Based on $229,999 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $72k vs median $49,569
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Income Needed to Rent

βœ“ Affordable
$48k/year
Based on $1117.45/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($49,569) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Elyria, OH

Elyria is a charming city located in Lorain County, Ohio, about 30 miles west of Cleveland. It serves as the county seat and boasts a rich history, having been established in the early 19th century. The city is known for its beautiful parks, including the scenic Cascade Park, which features waterfalls, trails, and picnic areas. Elyria's historic downtown area offers a blend of quaint shops, local eateries, and well-preserved architecture, reflecting its storied past. With a population of approximately 50,000 residents, Elyria provides a small-town feel with easy access to urban amenities. The city hosts community events throughout the year, fostering a strong sense of local pride. Elyria is also home to several educational institutions and recreational facilities, making it an attractive place for families. Economically, Elyria has a diverse base, with manufacturing and healthcare playing significant roles. Its strategic location near major highways and railroads enhances its appeal for businesses and commuters alike. Overall, Elyria represents a vibrant community with a welcoming atmosphere, ideal for both residents and visitors.

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