Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$190,694+5.1% YoY · prices are rising fast
Market right nowBalanced marketMore homes for sale than last year, 26% have cut their price
Income needed to buy, per year$41,339About 0.6× the local median income ($67,677): affordable for a typical household
Days on market51 daysFaster than a year ago: sellers have the edge
Next 12 months+3.9%Zillow expects prices to rise slightly
The typical home in Lima, OH is worth $190,694, up 5.1% from a year ago. That is well above what local incomes have historically supported: fair value is about $168,691, so the area is 13.0% overvalued. It is a balanced market: homes take about 51 days to sell, listings are up 28% from a year ago, 26% of listings have had a price cut. Zillow expects prices to rise about 3.9% over the next year. A household needs about $41,339 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $67,677. Typical rent is $1,208 a month, or $1,323 for a house. In the latest IRS figures, 205 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$190,694
Change in 1 year
+5.1%
Overvalued %
+13.0%
Show 7 more
Fair home value
$168,691
Change in 5 years
+33.2%
Zillow forecast, next 12 months
+3.9%
Home value to income
2.8×
Monthly mortgage payment (20% down)
$1,033
Income needed to afford it
$41,339
Property tax rate
1.12%
Rent and investing
Typical rent
$1,208
Typical rent for houses
$1,323
Price-to-rent ratio
13.2×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,179
Gross rental yield
7.60%
Cap rate (estimate)
4.94%
Market activity
Listings vs a year ago
+28.1%
Days on market
51
Listings with a price cut
25.8%
Show 3 more
Homes for sale
251
Pending sales per 100 listings
55
Asking price per sq ft
$132
People and jobs
Median household income
$67,677
Population change (1 year)
−0.1%
Unemployment rate
5.7%
Show 4 more
Population
100,881
Income adjusted for cost of living
$75,448
Net moves in (IRS)
−205
Cost of living (US = 100)
89.7
Schools, risk and environment
School rating (1 to 10)
6.6
FEMA hazard risk score (0 to 100)
73.3
Unhealthy air days a year
1
Show 4 more
Flood risk score
83.0
Wildfire risk score
9.4
Walkability (1 to 20)
6.7
Road, rail and air noise
52 dB
Questions people ask
Is Lima, OH overvalued?
Home prices in Lima, OH are well above what local incomes have historically supported: fair value is about $168,691, so the area is 13.0% overvalued.
Is Lima, OH a buyer's or seller's market?
Lima, OH is a balanced market: homes take about 51 days to sell, listings are up 28% from a year ago, 26% of listings have had a price cut.
Are home prices going down in Lima, OH?
Home values in Lima, OH are up 5.1% over the last year. Zillow's forecast for the next 12 months is +3.9%.
How much do you need to earn to buy a home in Lima, OH?
A household needs about $41,339 a year to afford the typical home in Lima, OH at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $67,677.