Lima, OH home prices
Typical home $190,694 · +5.1% in a year · income needed $55,700
The Lima, OH metro area ranks 676 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +5.1% in a year and +33.2% over five years. With 20% down at 7.11%, the typical home costs about $1,299 a month including 1.12% property tax (Allen County rate).
Mortgage on the typical Lima home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $38,139 | $152,556 | $1,026 | $0 | $273 | $1,299 | $55,700 |
| 10% down | $19,069 | $171,625 | $1,155 | $72 | $273 | $1,499 | $64,200 |
| 5% down | $9,535 | $181,160 | $1,219 | $75 | $273 | $1,567 | $67,200 |
| 3.5% down (FHA) | $6,674 | $187,240 | $1,260 | $84 | $273 | $1,617 | $69,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.12% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Lima area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Allen County, OH | $190,690 | +5.1% | 1.12% |
What can you afford in Ohio on your salary? · Ohio home prices · Salaries in Ohio
Frequently asked questions
How much is a house in Lima?
The typical home in the Lima, OH metro area is worth $190,694 (Zillow, September 2026).
What salary do you need to buy a house in Lima?
About $55,700 a year for the typical home with 20% down at 7.11%.