Market Overview
Home Prices in Lima, OH
The median home value in Lima, OH is $155,891 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.2% compared to a year ago and up 3.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lima are priced62% below average. Lima is part of the Lima, OH metro area.
Over the past five years, Lima home values have risen by approximately32.7%, reflecting strong long-term appreciation in this market.
Price History
Lima Home Price Trend
2020
$96,293
$96K
—
2021
$117,479
$117K
+22.0%
2022
$127,206
$127K
+8.3%
2023
$133,786
$134K
+5.2%
2024
$142,467
$142K
+6.5%
2025
$146,852
$147K
+3.1%
2026
$155,891
$156K
+6.2%
City Comparison
Lima vs. National Median
🏠 Lima
$155,891
National Median
$410,000
At $155,891, homes in Lima cost 62% below the national median of $410,000. This makes Lima a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Lima?
20% Down Payment
$31,178
on $155,891
Monthly P&I
$813/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,033/mo
incl. taxes & insurance
Income Needed
$41,320
gross annual (30% rule)
10% Down Option
$15,589
+ PMI applies
Loan Amount (20% dn)
$124,713
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Lima, OH?
The median home value in Lima is $155,891 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.2% year-over-year.
How much have home prices changed in Lima?
Over the past year, home values in Lima have increased by 6.2%. Over five years, prices have risen approximately 32.7%.
How much do I need to earn to buy a home in Lima?
To comfortably afford the median home price of $155,891 with a 20% down payment ($31,178) at today's rates (6.8%), you'd need a gross annual income of approximately $41,320. This assumes keeping total housing costs at or below 30% of gross income.
How does Lima compare to the national average home price?
The national median home value is approximately $410,000. At $155,891, homes in Lima are 62% below the national average.
What metro area is Lima part of?
Lima is part of the Lima, OH metropolitan area. Home prices and market conditions can vary across the broader metro region.