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Lake County, OH

Mentor

RANK #381 / 996 NAT  ·  #37 / 49 OH  ·  POP 232,236

1YR FORECAST: +2.1%

5YR OUTLOOK: +26%

Lake County's housing market is projected to grow +2.1% over the next year, tracking near the national average.

[01] Why Lake County?

Headlands Beach State Park in Mentor, Ohio, stands out as the longest natural sand beach in the state, offering a mile of shoreline along Lake Erie. Lake County, Ohio's smallest county by land area, is situated just 25-30 minutes east of downtown Cleveland. The community offers a mix of suburban, small-town, and rural living options. Beyond the beaches, outdoor recreation includes 40 diverse Lake Metroparks with over 60 miles of trails, and the Holden Arboretum in Kirtland, featuring 3,600 acres of gardens and natural areas, including a canopy walk and emergent tower with Lake Erie views. Commute options to Cleveland are available via Laketran's Park-n-Ride service.

Life in Lake County often appeals to families and retirees seeking green space and a relaxed atmosphere. The economy has a diverse base, with over 600 manufacturing firms and nationally recognized nursery and wine industries. Public schools in Lake County are above average, and teachers' wages are among the highest in the state. Recent economic developments in the broader Lake to River region, which includes Lake County, have focused on advanced manufacturing and energy, with significant capital investments and job creation. The county also has a low percentage of residents living below the poverty line.

[02] Market Snapshot

Housing Ratio
3.6x

Undervalued relative to economy

GDP Growth
+3.1%

Above national median

Home Prices
+3.3%

Outpacing national median

Climate & Terrain
-0.4

Below-average climate & terrain

Price/Rent
12x

Strong rental yield

Housing looks undervalued at 3.6x — home prices are low relative to local economic output. The typical U.S. county is 4–6x.

[03] Top Employers

  1. 1
    Cleveland Clinic Healthcare
    2,500+
  2. 2
    Lake Health Healthcare
  3. 3
    Amazon Logistics
    1,000+
  4. 4
    Lubrizol Corporation Manufacturing
  5. 5
    STERIS Manufacturing
  6. 6
    Lowe's Retail
    250+
  7. 7
    Avery Dennison Corporation Manufacturing
  8. 8
    Ohio Living Healthcare
    100+
  9. 9
    Giant Eagle Retail
  10. 10
    Carvana Retail

Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.

[04] Home Value Growth vs National

Lake County U.S. National

The Numbers

DEMOGRAPHICS
Population
232,236
+0.01% YoY
Median Household Income
$76,835
Median Home Value
$189,600
+3.28% 12mo
Median Rent
$1,027
Average Annual Pay
$59,040
+3.8% YoY
Employment
98,558
+0.8% YoY
Income-to-Home-Value
0.4052
More affordable than average
Migration Inflow
3.06%
of pop. from another state
Bachelor's Degree+
29.9%
of residents (national avg: 33%)

Market Activity

REAL ESTATE
Median Sale Price
$230,000
Days on Market
42
Moderate pace
Months of Supply
2.0
Seller's market
Sale-to-List Ratio
98.3%
Near asking price
Sold Above List
23.2%
Listings w/ Price Drops
22.5%
Building Permits (2024)
428
Single-Family Permits
402

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Crime & Safety

B+
SAFETY
GRADE
Homicide Rate
2.2
per 100K · nat avg 6.3
Firearm Fatalities
10.1
per 100K · nat avg 14.8
Injury Deaths
102.2
per 100K · nat avg 76.3
vs National Average
Well below national avg
based on homicide rate

Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →

[06] Air Quality

B
AIR QUALITY
GRADE
Median AQI (3yr)
41.3
Good
Good Air Days
72%
791 of 1,095 days
Unhealthy+ Days (3yr)
21
Sensitive groups affected
Primary Pollutant
PM2.5
Fine particulate matter
Yearly Trend
2021
41
2022
41
2023
42
Median AQI · lower is better

Source: EPA Air Quality System (2021–2023). Grade based on 3-year average median AQI. Learn about AQI →

[07] Score Breakdown

GDP Growth +3.1% 58 percentile
Population Growth +0.0% 30 percentile
Income Growth +9.5% 73 percentile
Vacancy Rate 0.6% 91 percentile
Home Price Change +3.3% 75 percentile
Rent Growth +5.1% 80 percentile
Price/Rent 12x 70 percentile

Bars show percentile rank among all 996 counties.

[08] Frequently Asked Questions

Is Lake County, OH a good place to move to?

With a Boom Town Index score of 62/100, Lake County sits in the upper half of all 996 ranked counties. Employment is expanding at +0.8%, and median household income stands at $76,835 — indicators that suggest solid fundamentals even if it's not among the fastest-growing counties in OH.

Is Lake County affordable?

By national standards, Lake County is quite affordable. Homes here have a median value of $189,600, and the income-to-home-value ratio of 0.41 is well above the U.S. average — especially with median rent at just $1,027/month. Residents can generally buy a home without being cost-burdened.

Is Lake County growing or shrinking?

Population and employment in Lake County are both close to flat — population +0.0% YoY and jobs +0.8%. Home values shifted +3.3% over the past 12 months. A steady-state county, neither expanding quickly nor shrinking.

Are people moving to Lake County?

There's a moderate stream of newcomers. About 3.06% of residents moved from another state, which is above average and suggests Lake County has appeal as a relocation destination — though it's not among the highest-inflow counties nationally.

[09] Similar Counties by Size & Score

Hamilton County, OH 62 Licking County, OH 64 Ross County, OH 60 Union County, OH 65 Butler County, OH 59 Wood County, OH 59 Kootenai County, ID 62 Midland County, TX 62