Quick facts: Lima, OH

Quick Facts

96.4
Cost of Living
below US average
34,977
Population
43.46
Crime Rate per 1000
above US average
$41,824
Median Income
below US average
$145,000
Median House Price
above US average
$1230.54
Average Rent
below US average
20%
Poverty Rate
above US average
6.9%
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 $41,824.

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Income Needed to Buy

βœ— Stretch
$45k/year
Based on $145,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $45k vs median $41,824
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Income Needed to Rent

⚠ Stretch
$53k/year
Based on $1230.54/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $53k vs median $41,824
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Lima, OH

Lima, Ohio, located in Allen County, is a city with a rich history and diverse culture. Established in 1831, it has grown from a small settlement to a vibrant urban center. Known for its manufacturing and industrial sectors, Lima has been historically significant due to its contributions to the oil industry in the early 20th century. The city features various parks and recreational areas, including the beautiful Faurot Park, offering residents and visitors outdoor activities and sports facilities. The Allen County Museum showcases local history through exhibits that reflect the region's heritage. Lima is also home to several educational institutions, including the University of Northwestern Ohio, which provides a range of programs and contributes to the local economy. The downtown area boasts a mix of shops, restaurants, and theaters, fostering a sense of community and local culture. Annual events, such as the Lima Symphony Orchestra performances and local festivals, offer entertainment and celebrate the city's vibrant community spirit. Overall, Lima, OH, is a city with a blend of historical charm and modern amenities, making it a unique place to live and visit.

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