Similar to nearby areas, it's a lot less expensive compared to the entire nation. However it is a lot more expensive compared to the city of Cleveland.
Home prices
The value of the median home in Mentor-on-the-Lake is $133,200. In comparison to its nearby areas this is approximately $5,500 (3%) lower.It is approximately $84,300 (38%) lower in comparison to the rest of the country, and is roughly $63,600 (91%) higher in comparison to the city of Cleveland.
Rents
In Mentor-on-the-Lake the median rent is $902 a month. It is is very similar compared to nearby areas.Compared to the rest of the nation it is roughly $160 (15%) lower, and in comparison to the city of Cleveland it is about $183 (25%) higher.
Nearby places
Mentor
Mentor is Mentor-on-the-Lake's neighbor to the southeast. The housing prices there are a bit more expensive. The median home in Mentor costs $172,400, which comes out to $39,200 (22%) higher than Mentor-on-the-Lake. Its rents are a bit more expensive. Mentor's median monthly rent is $958, which is $56 (5%) higher than Mentor-on-the-Lake.
Grand River
Grand River is approximately 4 miles northeast from Mentor-on-the-Lake. Its housing prices are somewhat less expensive. The median home in Grand River costs $122,600, which is $10,600 (8%) lower than Mentor-on-the-Lake. Its rents are a little more expensive. The median monthly rent in Grand River is $950, which is $48 (5%) higher than Mentor-on-the-Lake.
Fairport Harbor
Fairport Harbor is about 4 miles northeast of Mentor-on-the-Lake. Its housing prices are somewhat less expensive. The value of the median home in Fairport Harbor is $104,500, which comes out to $28,700 (27%) lower than Mentor-on-the-Lake. Its rents are a little less expensive. The median monthly rent in Fairport Harbor is $779, which comes out to $123 (15%) lower than Mentor-on-the-Lake.
Timberlake
Timberlake is roughly 4 miles southwest from Mentor-on-the-Lake. Housing prices there are somewhat more expensive. The median home in Timberlake costs $161,000, which is $27,800 (17%) higher than Mentor-on-the-Lake. Its rents are a bit more expensive. The median monthly rent in Timberlake is $981, which is $79 (8%) higher than Mentor-on-the-Lake.
Eastlake
Eastlake is roughly 4 miles southwest from Mentor-on-the-Lake. Real estate prices there are pretty similar. The median home cost in Eastlake is $133,000, which is very similar to Mentor-on-the-Lake. Its rents are similar. Eastlake's median monthly rent is $869, which works out to $33 (3%) lower than Mentor-on-the-Lake.
