Market Snapshot
Report generated March 2026
| Indicator | Value |
|---|---|
| Population | 398,696 ↑ 3.8% since 2020 |
| Median Household Income | $69,956 6% below national median |
| Median Home Value | $287,900 |
| Unemployment Rate | 5.1% |
| Median Age | 46.7 years |
| Housing Vacancy Rate | 12.7% |
| Total Land Sales (Past 12 Months) | 197 transactions |
| Active Listings | 82 properties |
| Avg Days on Market | 404 days |
Rural Land Sales (1+ Acres) (Nov 2025 – Mar 2026)
| Metric | Value |
|---|---|
| Median Price/Acre | $18,396 |
| Recent Sales | 102 transactions |
| Avg Days on Market | 396 days |
| Avg Parcel Size | 10.70 acres |
| Active Listings | 28 properties |
Recent Rural Land Sales
| Date | Acres | Price | $/Acre | Location |
|---|---|---|---|---|
| Mar 2026 | 2.80 | $99,000 | $35,357 | Willoughby |
| Feb 2026 | 17.07 | $435,000 | $25,483 | Painesville |
| Feb 2026 | 1.50 | $35,000 | $23,333 | Painesville |
| Feb 2026 | 3.11 | $102,000 | $32,774 | Thompson |
| Jan 2026 | 3.60 | $150,000 | $41,667 | Mentor |
| Jan 2026 | 3.16 | $70,000 | $22,152 | Painesville |
| Jan 2026 | 16.40 | $300,000 | $18,293 | Madison |
| Nov 2025 | 1.00 | $400,000 | $400,000 | Concord Township |
| Nov 2025 | 5.41 | $67,013 | $12,387 | Painesville |
| Nov 2025 | 7.10 | $85,000 | $11,972 | Madison |
Suburban/Urban Land Sales (Under 1 Acre) (Nov 2025 – Mar 2026)
| Metric | Value |
|---|---|
| Median Lot Price | $30,000 |
| Recent Sales | 95 transactions |
| Avg Days on Market | 413 days |
| Avg Parcel Size | 0.30 acres |
| Active Listings | 54 properties |
Recent Suburban/Urban Land Sales
| Date | Acres | Price | Location |
|---|---|---|---|
| Mar 2026 | 0.12 | $20,000 | Painesville |
| Mar 2026 | 0.12 | $20,000 | Painesville |
| Mar 2026 | 0.33 | $35,000 | Wickliffe |
| Feb 2026 | 0.33 | $30,000 | Eastlake |
| Feb 2026 | 0.77 | $45,000 | Mentor |
| Nov 2025 | 0.48 | $52,000 | Mentor |
| Nov 2025 | 0.11 | $8,500 | Mentor |
| Nov 2025 | 0.30 | $8,000 | Willoughby |
| Nov 2025 | 0.29 | $5,000 | Painesville |
| Nov 2025 | 0.28 | $149,900 | Willoughby |
County Profile
| Demographic | Value |
|---|---|
| Total Population (2023) | 232,101 |
| Population (2020) | 232,603 |
| Population Growth | -0.22% |
| Median Household Income | $77,952 |
| Median Home Value | $199,900 |
| Total Housing Units | 105,877 |
| Vacant Housing Units | 5,558 |
| Housing Vacancy Rate | 5.2% |
| Median Age | 44.0 |
| Bachelor's Degree or Higher | 33,713 (14.5%) |
| Unemployment Rate | 5.1% |
Market Overview
Lake County, Ohio has a population of 232,101, which has declined 0.22% since 2020. The median household income is $77,952, above the national median of $74,580 by 4.5%. The housing vacancy rate of 5.2% suggests tight market conditions. The county's location in Ohio makes it accessible for investors and developers seeking rural land. Recent rural land sales show a median price of $18,396 per acre, with properties averaging 10.70 acres. There are currently 82 active land listings in the county.
Related Resources
Nearby County Reports
Frequently Asked Questions
What is the current population of Lake County, Ohio?
As of the 2023 American Community Survey, Lake County has a population of 232,101. The county has declined 0.22% since the 2020 Census.
What is the median household income in Lake County?
The median household income in Lake County is $77,952, which is 4.5% above the national median of $74,580.
Is Lake County growing or shrinking?
Lake County is shrinking. The population has declined 0.22% since 2020.
What is the housing market like in Lake County?
The median home value in Lake County is $199,900. The housing vacancy rate is 5.2%, which suggests tight market conditions. The unemployment rate is 5.1%, reflecting the local economic conditions. Recent rural land sales (1+ acres) show a median price of $18,396 per acre. Suburban/urban lots under 1 acre have a median lot price of $30,000.
Does Reelvest buy land in Lake County, Ohio?
Yes! Reelvest Properties buys vacant land throughout Ohio, including Lake County. We make cash offers within 24-48 hours, close in 14-30 days, and pay all closing costs. Get your free cash offer today.
Data Sources: Market data reflects recent vacant land transactions in the county. Demographic data from U.S. Census Bureau American Community Survey (2023), Bureau of Labor Statistics (2025). Updated monthly.