Lorain is a city in Ohio state in USA with a population of 63832 residents.. The poverty rate of Lorain is 26.9%, which is 92% higher than national average. The typical household in Lorain earns $40486 a year, compared to the national median of $67,500. Financial hardship is relatively common in the city as 1 in every 4 residents live below the poverty line, well above the national poverty rate of 14.1%. Additionally, more than 1 in every 7 area households live on an income of less than $10,000 a year. Nationwide, 5.8% of households do. Nearly 59.4% of households earn less than $50,000 a year compared to 39% national rate.

A high school education is a basic prerequisite for most jobs, and in Lorain, only 82% of adults have a high school diploma, compared to the 87.7% of adults nationwide. The unemployment rate of Lorain remained 8.1%, which is 72% higher than national rate. Nearly 2 times comparable to 4.7% national rate, according to the Census. Higher educational attainment can lead to improved job security and reduce the likelihood of financial insecurity. In Lorain, only 13% of adults have a bachelor's degree and 35% have some college but no degree.

Cost of living in Lorain is 87, which is 13% lower than national average. Median home value in Lorain is $90700 , which is 61% lower than national average. While median income in Lorain remained $40486, which is 40% lower than national average.