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Real Estate Prices & Overview

Downtown Lorain median real estate price is $81,555, which is less expensive than 91.3% of Ohio neighborhoods and 96.4% of all U.S. neighborhoods.

The average rental price in Downtown Lorain is currently $1,267, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 61.5% of Ohio neighborhoods.

Downtown Lorain is a suburban neighborhood (based on population density) located in Lorain, Ohio.

Downtown Lorain real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Downtown Lorain neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Vacant apartments or homes are a major fact of life in Downtown Lorain. The current real estate vacancy rate here is 23.5%. This is higher than the rate of vacancies in 90.6% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

People

One of the unique characteristics of the Downtown Lorain neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 99.7% of the neighborhoods in America.

In addition, neighborhoodScout's exclusive research revealed that 97.8% of the adult residents in the Downtown Lorain neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 98.6% of the neighborhoods in America.

Also, downtown Lorain has the amazing distinction of housing more same sex couples living together than 98.0% of neighborhoods in the U.S. If you are seeking such a neighborhood, NeighborhoodScout's analysis shows that this is one place that you should consider.

Diversity

Did you know that the Downtown Lorain neighborhood has more Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 29.1% of this neighborhood's residents have Puerto Rican ancestry.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Downtown Lorain neighborhood in Lorain are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 99.7% of U.S. neighborhoods. With 49.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 93.8% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Downtown Lorain neighborhood, 30.0% of the working population is employed in clerical, assistant, and tech support occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 26.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (24.3%), and 18.9% in executive, management, and professional occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Downtown Lorain neighborhood is English, spoken by 73.7% of households. Other important languages spoken here include Spanish and Polish.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Downtown Lorain neighborhood in Lorain, OH, residents most commonly identify their ethnicity or ancestry as Puerto Rican (29.1%). There are also a number of people of Italian ancestry (5.6%), and residents who report Irish roots (4.6%), and some of the residents are also of German ancestry (3.2%), along with some English ancestry residents (3.2%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Downtown Lorain neighborhood spend between 15 and 30 minutes commuting one-way to work (45.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (77.9%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (15.1%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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