Home prices
The median home value in Sheffield Lake is $111,800. Compared to its surrounding areas this is roughly $108,320 (49%) lower.It is approximately $105,700 (48%) lower compared to the rest of the country, and is about $62,600 (127%) higher in comparison to the city of Detroit.
Rents
In Sheffield Lake the median monthly rent is $881. It is about $194 (18%) lower compared to other places in this area.Compared to the nation as a whole it is roughly $181 (17%) lower, and compared to the city of Detroit it is approximately $57 (6%) higher.
Nearby places
Sheffield
Sheffield is Sheffield Lake's neighbor to the south. Real estate prices there are significantly more expensive. The median home in Sheffield costs $212,100, which comes out to $100,300 (47%) higher than Sheffield Lake. Rents there are a little more expensive. In Sheffield the median rent is $1,267 a month, which works out to $386 (30%) higher than Sheffield Lake.
Avon Lake
Avon Lake is Sheffield Lake's neighbor to the east. Its real estate prices are substantially more expensive. Avon Lake's median home price is $256,400, which works out to $144,600 (56%) higher than Sheffield Lake. Its rents are somewhat more expensive. The median monthly rent in Avon Lake is $1,136, which works out to $255 (22%) higher than Sheffield Lake.
Lorain
Lorain is Sheffield Lake's neighbor to the southwest. The real estate prices there are a bit less expensive. The median home cost in Lorain is $87,300, which works out to $24,500 (28%) lower than Sheffield Lake. The rent there is a bit less expensive. The median rent in Lorain is $697 per month, which comes out to $184 (26%) lower than Sheffield Lake.
Avon
Avon is about 4 miles southeast of Sheffield Lake. The housing prices there are significantly more expensive. The median home in Avon costs $296,900, which works out to $185,100 (62%) higher than Sheffield Lake. The rent there is a little more expensive. In Avon the median monthly rent is $1,235, which works out to $354 (28%) higher than Sheffield Lake.
Bay Village
Bay Village is about 7 miles east of Sheffield Lake. Its real estate prices are substantially more expensive. The median home cost in Bay Village is $247,900, which is $136,100 (54%) higher than Sheffield Lake. The rent there is a bit more expensive. In Bay Village the median monthly rent is $1,040, which is $159 (15%) higher than Sheffield Lake.
