Lorain, OH vs Parma, OH

Lorain is moderately more affordable than Parma, with a 12% lower cost of living index. Lorain scores 68 compared to 77 for Parma, where the US average is 100. This difference means residents of Parma can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Lorain is $839/month compared to $1,053/month in Parma — a 20% difference. Home values follow the same pattern: Lorain is more affordable at $123,500 median vs $157,600.

Median household income in Lorain is $45,799 compared to $67,425 in Parma (-32.1%). While Parma is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Lorain spend roughly 22% of their income on rent, more than the 18.7% in Parma.