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This question is about Lorain, OH.
What is a good salary in Lorain, OH?
A good salary in Lorain, OH is anything over $37,000. That's because the median income in Lorain is $37,000, which means if you earn more than that you're earning more than 50% of the people living in Lorain. The average salary in Lorain is $41,628.
A good hourly wage in Lorain is $17.79 per hour. That works out to a good weekly wage of $711 per week and a good monthly wage of $3,083 per month. However, using the median income is only one way to calculate a good salary in Lorain.
Another way to calculate a good salary in Lorain is to look at the price of housing and use that to back into a good salary. Experts agree that you want to maintain about a 5 to 1 home price to income ratio. Based on the median home price of $87,300, a good salary in Lorain would be $17,460.
Lastly, we can determine a good salary in Lorain by looking at the cost of living and comparing it to the US average salary. The cost of living in Lorain is 14% lower than than the national average. The national average salary is $56,310, so a good salary in Lorain is anything over $48,426 by this measure.
Average Annual Salary in Lorain, OH
| Percentile | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
| 10th | $20,000 | $1,666 | $384 | $9.62 |
| 25th | $27,000 | $2,250 | $519 | $12.98 |
| Median | $37,000 | $3,083 | $711 | $17.79 |
| 75th | $51,000 | $4,250 | $980 | $24.52 |
| 90th | $67,000 | $5,583 | $1,288 | $32.21 |
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