Housing Report for Lima

Looking across the State of Ohio, Lima stands 10 of the 12 metro areas in terms of growth of new housing structures between 2001 and 2005. The MSA stands 339 of 361, when comparing the change in housing structures in other metropolitan areas throughout the nation.

Lima had a median home value in the year 2005 of $95,800, accounted by the American Community Survey. This value is less than the overall Ohio 2005 home value of $129,600 and less than home value of $167,500 for the rest of the nation in that year.

In Lima, the real estate market was made up of 45,118 homes in the year 2005. This MSA has gone through a medium level of growth in the number housing units, adding a total of 662 homes since 2001, or 1.5 percent.

The residential housing values in Lima, Ohio have experienced moderate increases since their reported values in 2000. The values have increased by $10,900, or 12.8 percent, since 2000 when their medians were reported to be $84,900.

There seems to be a large amount of affordable housing in Lima, Ohio. In 2005, 69.4 percent of owner-occupied dwellings were valued under $125k.

Lima has a medium proportion of high-valued homes. For the year 2005, the American Community Survey accounted that 1.8 percent of the houses were valued over a half a million dollars.

Data Source: U.S. Census Bureau

Employment Report for Lima, Ohio -- Annual 2005 Industry Summary

Manufacturing since the year 2001 was faced with the largest loss in employment in the Lima Metropolitan Area. The industry was hit with a loss of 826 employees during the period, or 7 percent of employment in the sector. These losses made up 43.2 percent of all Metro Area employment losses since 2001.

Manufacturing is the industry with the largest establishments in Lima MSA, with the industry averaging 67 workers per each place of employment, being greater than the US industry average of 39 and greater than the Ohio typical size of 45 for the Manufacturing industry.

Management of companies and enterprises is the industry that has seen the largest increase in jobs from the year 2001 to the present in Lima, rising by 89 percent. This is greater than the national employment change in the industry of 1.6 percent. The State of Ohio had changed in sector employment of 22.5 percent, from 2001 to 2005.

The Lima Metropolitan Area ranks 248 of 363 throughout the US by total number of jobs in 2005. This position has slipped behind during the time of 2001 and 2005. The Metropolitan Area, in the year 2001, was ranked 247 of 363 Counties.

A top paying industry in Lima is the manufacturing sector with an annual pay of $48,015. Locally, since the year 2001, the annual average wages in the industry have grown by 7.6 percent or $3,399. The State of Ohio reflects a different job market in the manufacturing sector, placing in the middle of sectors according to average 2004 industry pay.

In Lima, Manufacturing, Health care and social assistance and Retail Trade industries have the highest United States location quotient (LQ). The Manufacturing sector in the county has a location quotient of 1.72. In other words, the percent of total jobs in the Manufacturing industry is 1.72 times greater than the US average, showing signs that Lima may be an exporter of products or services of Manufacturing.

In Lima, Manufacturing, Health care and social assistance, and the Retail Trade sectors are the largest industries, in terms of total number of jobs in 2005. The Manufacturing is the largest employment industry and makes up 22.1 percent of the total MSA employment. This totals 10,899 people employed. The Health care and social assistance and Retail Trade sectors provide 18.6 and 15.5 percent of all employment.



Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).