Lima

Located in Allen County, this city of 35,304 residents presents an exceptionally affordable housing market with a median home price of $59,000 and pricing at $65 per square foot. The average home size of 1,386 square feet reflects the area's accessible housing stock, though with only 25 active listings, inventory remains limited. The homeownership rate of 46.4% indicates a balanced mix of owners and renters, while the median household income of $43,370 suggests housing costs remain manageable relative to local earnings. Lima City School District serves the area's educational needs. The substantial affordability gap between local housing costs and typical market rates makes this market particularly attractive for first-time buyers and investors seeking entry-level opportunities. However, the low inventory levels may present challenges for buyers in a market where affordable options move quickly.

Market description generated from current MLS and U.S. Census data.