Average Rent in Lima, OH↑ Rents rising 6.4% YoY🔺 10th priciest in OH

Lima, OH has rental prices ranging from $895/month to $1,571/month in 2027, depending on unit size. The typical 1-bedroom apartment rents for $901/month — 36% below the national average of $1,400/month. With a median household income of $62,001/year, spending $901/month on a 1-bedroom represents 17% of gross income — within the recommended 30% threshold.

How Lima Compares

With an average 2-bedroom rent of $1,179/month, Lima ranks #10 most expensive of the 72 cities tracked in Ohio — pricier than 73% of all US cities in our data.

The Lima Rental Market

The Lima, OH area has a population of about 101,685 and 32% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Lima, OH have risen by $71/month (6.4%) over the past year, from $1,108 to $1,179. This modest growth is consistent with broader inflationary trends seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Lima, OH without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $36,040. The local median household income of $62,001 exceeds that threshold by $25,961, making Lima relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Lima, OH is $151,335, giving a price-to-rent ratio of 10.7. The break-even point between renting and buying is roughly 11 years — renting offers more flexibility for shorter stays, while buying makes more sense for long-term residents.

Is Lima, OH Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Lima?

Break-even analysis and mortgage estimates based on local market data.

Living in Lima

Cost of living, job market, crime rates, and moving cost estimates.