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Lorane

Learn about the people, housing, costs and businesses in Lorane, Pennsylvania

Median Home$239,684
Median Rent$1,615/month
Population4,170
Leading IndustriesHealthcare · Finance & Insurance · Arts, Food & Hospitality16% healthcare
Home Value Growth⬆⬆+18.8% over 2 years
Young Adults28% of residentsnear the national average
Homeowners79% of occupied units
Lorane
PA

Frequently Asked Questions

What are today's mortgage rates in Lorane?

As of today, the 30-year fixed mortgage rate for Lorane is approximately 7.007% (7.047% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Lorane?

The median home value in Lorane is $240k. The median monthly rent is $1,615. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Lorane?

Home values in Lorane have increased 18.8% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Lorane?

Based on a typical all-in ownership cost of $1,218/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $52k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Lorane is $74k/year.

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What industries drive the economy in Lorane?

The largest employment sectors in Lorane are public administration (20%) and healthcare (16%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.