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Lorimor

Learn about the people, housing, costs and businesses in Lorimor, Iowa

Median Home$113,000
Median Rent$696/month
Population427
Leading IndustriesRetail · Construction · Agriculture & Mining23% retail
Home Value Growth+6.3% over 2 years
Family-Friendly25% of residentsslightly above average
Homeowners81% of occupied units
NotableAffordable Market$113k median home · lower cost than 87% of the country
Lorimor
IA

Frequently Asked Questions

What are today's mortgage rates in Lorimor?

As of today, the 30-year fixed mortgage rate for Lorimor is approximately 6.978% (7.020% 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 Lorimor?

The median home value in Lorimor is $113k. The median monthly rent is $696. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Lorimor?

Home values in Lorimor have increased 6.3% over the past two years. This represents moderate growth. 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 Lorimor?

Based on a typical all-in ownership cost of $712/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $31k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Lorimor is $60k/year.

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What industries drive the economy in Lorimor?

The largest employment sectors in Lorimor are retail (23%) and public administration (18%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.