The typical owner-occupied home in Lowell is worth about $131,800, 39% below the Ohio median of $214,800 and 60% below the national median of $332,700. Owners pay a median $900 a year in property taxes, about 0.68% of their home's value, lower than the Ohio rate of 1.31%. The median household earns $46,313 a year, so the median home costs 2.8 times the median income (3.0 times for Ohio). 76% of occupied homes here are lived in by their owners, and 23% of those owners still have a mortgage.
Lowell at a glance
| Lowell | Ohio | U.S. | |
|---|---|---|---|
| Median home value | $131,800 | $214,800 | $332,700 |
| Median property tax paid per year | $900 | $2,822 | $3,119 |
| Property tax as a share of value | 0.68% | 1.31% | 0.94% |
| Median household income | $46,313 | $71,389 | $80,734 |
| Homes lived in by their owners | 76% | 67% | 65% |
| Owner homes with a mortgage | 23% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,133 | $1,517 | $1,963 |
| Those costs as a share of the owners' income | 14.5% | 18.6% | 21.0% |
| Median rent | $826 | $1,034 | $1,413 |
| Rent as a share of renters' income | 14.3% | 28.3% | 30.6% |
| Median year homes were built | 1938 | 1970 | 1980 |
| Vacant homes | 22.1% | 8.1% | 10.1% |
| Population | 556 | 11,810,293 | 334,922,499 |
What a typical home costs per month in Lowell
At this week's average 30-year rate of 7.11%, buying the median Lowell home of $131,800 with 20% down costs about $839 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,058, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $35,953 for the 20%-down payment. That payment is 22% of the median Lowell household income of $46,313; at that income and 20% down, the 28% guideline points to a home of about $170,000.
The median rent here is $826 a month, so owning the median home costs about $13 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $26,360 |
|---|---|
| Loan amount | $105,440 |
| Principal and interest | $709 |
| Property taxes (0.68% a year) | $75 |
| Homeowners insurance (our estimate, 0.5% a year) | $55 |
| PMI | $0 |
| Total per month | $839 |
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| Down payment | $4,613 |
|---|---|
| Loan amount | $129,413 |
| Principal and interest | $871 |
| Property taxes (0.68% a year) | $75 |
| Homeowners insurance (our estimate, 0.5% a year) | $55 |
| FHA mortgage insurance | $58 |
| Total per month | $1,058 |
Change the numbers in the calculator
Questions about home buying in Lowell
What is the median home value in Lowell?
About $131,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lowell?
Homeowners pay a median $900 a year, which is about 0.68% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Lowell?
For the median home with 20% down at 7.11%, the payment is about $839 a month. Keeping that under 28% of gross income takes about $35,953 a year.
More about Lowell
- Mortgage Refinance in Lowell
- Debt Relief in Lowell
- Home Equity Loans in Lowell
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data