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City · 7,111 residents · Lake County, Ohio

Mentor-on-the-Lake , Ohio

In Mentor-on-the-Lake, a typical home is worth $188,500 and typical rent is $1,062 a month. Compared with all of Lake County, typical household income is 17% lower, the typical home value is 12% lower, and the share of households that own their home is 14 points lower.

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  • Typical home value

    $188,500

    12% below the county

    12% below Ohio

    • Mentor-on-the-Lake
    • Lake
    • Ohio

  • Typical rent

    $1,062a month

    5% below the county

    3% above Ohio

    • Mentor-on-the-Lake
    • Lake
    • Ohio

  • Typical household income

    $67,188a year

    17% below the county

    6% below Ohio

    • Mentor-on-the-Lake
    • Lake
    • Ohio

  • Households that own their home

    62%

    14 points below the county

    5 points below Ohio

    • Mentor-on-the-Lake
    • Lake
    • Ohio

Source: U.S. Census Bureau, Average 2020–2024

Mentor-on-the-Lake is in Lake County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Lake County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Mentor-on-the-Lake apart

What this place has that others do not, from public data, most unusual first.

  1. Mentor-on-the-Lake has the 10th smallest share of rent-burdened renters of the 253 cities in Ohio with more than 5,000 people (31%).

  2. 62% of households in Mentor-on-the-Lake own their home, against 76% in Lake County.

  3. Nearby, in Painesville, the typical home value is $158,800: 16% less than in Mentor-on-the-Lake ($188,500).

  4. The typical household income in Mentor-on-the-Lake is $67,188, 17% less than in Lake County as a whole ($80,925).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Mentor-on-the-Lake

What homes there are in Mentor-on-the-Lake, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Mentor-on-the-Lake, 6 in 10 homes are single-family detached houses; in Lake County, 7.

Year built

In Mentor-on-the-Lake, half of the homes were built before 1975; in Lake County, before 1972.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,350 a month

Lake County: $1,500 a month

Without a mortgage

$581 a month

Lake County: $635 a month

Owners with a mortgage

70%

Lake County: 62%

In Mentor-on-the-Lake, 70% of owners have a mortgage, and their typical cost is $1,350 a month, against $1,500 in Lake County. Without one it drops to $581.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Since 2015–2019, homes in Mentor-on-the-Lake gained value faster than in Lake County: 42% against 37%.

The typical rent in Mentor-on-the-Lake rose 18% over the same time; in Lake County, it rose 24%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureMentor-on-the-LakeLake CountyOhioUnited States
Rental vacancy Unreliable estimate3.3%4.4%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.8%0.9%
More than one person per room Unreliable estimate1.0%1.5%3.4%
People per household 1.942.272.372.53
Drive alone 84%77%75%69%
Carpool Unreliable estimate7%8%9%
Public transit Unreliable estimate1%1%3%
Walk or bike Unreliable estimate1%2%3%
Work from home 8%14%13%15%
Other means Unreliable estimate1%1%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

On average, a household in Mentor-on-the-Lake has 1.94 people, fewer than in Lake County (2.27).

To get to work, 84% of workers in Mentor-on-the-Lake drive alone; in Lake County, 77%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Mentor-on-the-Lake?

A typical home is tight for the typical income

We start with a typical home in Mentor-on-the-Lake, worth $188,500, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 30% of the typical household income in Mentor-on-the-Lake, which is $67,188 a year. For that payment to be 28% of income, a household would need to earn about $71,985 a year.

The calculator's FHA and conventional loan limits are those of all of Lake County.

Your numbers

Local data
$

Starts at the typical home value in Mentor-on-the-Lake. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $6,598 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,680

at 7.18% · 30 years

Loan amount
$185,085
Total interest
$266,294
Paid off in
November 2056

Includes $3,183 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,568 a month

  • Tight

    $1,568 to $2,016 a month

    Your payment · 30%

  • Hard

    more than $2,016 a month

Compared with the typical household income in Mentor-on-the-Lake ($67,188 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,680
Principal & interest$1,254
Property tax$264
Home insurance$79
FHA mortgage insurance (MIP)$83

You need at least $6,598 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Mentor-on-the-Lake and Lake County

Mentor-on-the-Lake is in Lake County, Ohio. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Mentor-on-the-Lake's own numbers

Typical home value
$188,500
Typical monthly rent
$1,062
Typical yearly household income
$67,188
Households that own their home
62%
Effective property tax rate
1.68%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Lake County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,274
Price change over 5 years (FHFA)
+47%
Homes in a high flood-risk zone
0.8%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Lake County.

Everything about Lake County

Buying

Buying a home in Mentor-on-the-Lake

A typical home in Mentor-on-the-Lake is worth $188,500: 12% below the county and 12% below Ohio. With the typical household income in Mentor-on-the-Lake ($67,188 a year), a typical home costs 2.8 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Mentor-on-the-Lake 2.8 years
  • Lake 2.6 years
  • Ohio 3.0 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Lake County

According to FHFA’s house price index, home prices in Lake County rose 77% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Lake County.

Period County Ohio U.S.
Last year (2025) +4.9% +4.8% +2.9%
5 years (2020–2025) +47% +53% +47%
10 years (2015–2025) +77% +93% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Mentor-on-the-Lake next to Lake County, Ohio and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Mentor-on-the-Lake $188,500
  • Lake $214,100
  • Ohio $214,800
  • United States $332,700
Typical monthly rent
  • Mentor-on-the-Lake $1,062
  • Lake $1,113
  • Ohio $1,034
  • United States $1,413
Typical yearly household income
  • Mentor-on-the-Lake $67,188
  • Lake $80,925
  • Ohio $71,389
  • United States $80,734
See the full table
Mentor-on-the-Lake next to Lake County and Ohio
Measure Mentor-on-the-Lake Lake County Ohio U.S.
Typical home value $188,500 $214,100 $214,800 $332,700
Typical monthly rent $1,062 $1,113 $1,034 $1,413
Typical yearly household income $67,188 $80,925 $71,389 $80,734
Households that own their home 62% 76% 67% 65%
Typical yearly property tax $3,167 $3,475 $2,822 $3,119
Effective property tax rate 1.68% 1.62% 1.31% 0.94%
Renters with high rent for their income 31% 45% 46% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Lake County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Mentor-on-the-Lake

For a typical $188,500 home in Mentor-on-the-Lake, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Mentor-on-the-Lake's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,680a month

    Least cash to close
    Down payment
    $6,598
    Cash to close
    $12,253
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $83

  • Conventional, 5% down $1,645a month

    Down payment
    $9,425
    Cash to close
    $15,080
    Rate
    7.18%
    Mortgage insurance
    PMI · $90

  • Conventional, 20% down, no PMI $1,364a month

    Down payment
    $37,700
    Cash to close
    $43,355
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,538a month

    Down payment
    $28,275
    Cash to close
    $33,930
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Mentor-on-the-Lake and for Lake County.

Property tax

Effective rate in Mentor-on-the-Lake

1.68%of the home’s value each year

$3,167 a year for the typical owner in Mentor-on-the-Lake.

  • Mentor-on-the-Lake 1.68%
  • Lake 1.62%
  • Ohio 1.31%

What Ohio publishes Homestead exemption for seniors and people with disabilities (Ohio Department of Taxation)

Exemptions and deadlines in Ohio

Flood risk in Lake County

FEMA does not publish these numbers by city: they are for all of Lake County.

Homes in the high-risk zone
0.8%
756
Of those, with NFIP insurance
32%
County Ohio U.S.
Homes in the high-risk zone 0.8% 1.7% 3.5%
Of those, with NFIP insurance 32% 16% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Mentor-on-the-Lake

Typical rent in Mentor-on-the-Lake is $1,062 a month: 5% below the county. In Mentor-on-the-Lake, 31% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Lake County, by unit size. To pay the 2-bedroom one ($1,274 a month) without spending more than 30% of your income, you would need to earn $24.50 an hour working full time.

HUD fair market rent for all of Lake County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $924 $17.77 $36,960
1 bedroom $1,050 $20.19 $42,000
2 bedrooms $1,274 $24.50 $50,960
3 bedrooms $1,628 $31.31 $65,120
4 bedrooms $1,756 $33.77 $70,240

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Mentor-on-the-Lake

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Mentor-on-the-Lake is in ZIP code 44060.

For 2 bedrooms it is $1,430: $156 more than the fair market rent for Lake County ($1,274).

  • 44060 $1,430$1,830

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Mentor-on-the-Lake when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Mentor-on-the-Lake

HUD lists 2 buildings with rents for lower incomes in Mentor-on-the-Lake. These are the largest.

  • Andrews Place Apartments 7766 Salida Rd, Mentor On The Lake 44060 78 low-income homes · For families (440) 257-5948
  • Mah Lake Vistas 5714 Andrews Rd, Mentor On The Lake 44060 24 homes, 23 low-income · For people with disabilities (440) 257-0258

See all 16 buildings in Lake County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Mentor-on-the-Lake

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Lake County; 1 says it serves in Spanish.

A young man and a young woman look something up together on a laptop.

HUD counseling is free or low-cost

Assistance programs in Mentor-on-the-Lake

No down payment, repair or rent-help program on our list is for Mentor-on-the-Lake or Lake County. The ones below are statewide in Ohio: they work in Mentor-on-the-Lake the same as in the rest of the state.

Which programs do I qualify for? All programs in Ohio

  • Your Choice! Down Payment Assistance

    Statewide in Ohio

    Ohio state agency help of 2.5% or 5% of the price for the down payment, closing costs or other costs before closing, forgiven after seven years; if you sell sooner, you repay all of it. Offered by Ohio Housing Finance Agency (OHFA).

    Forgivable

    See the program Official page

  • Mortgage Tax Credit

    Statewide in Ohio

    Ohio state agency certificate that turns part of your mortgage interest into a credit on your federal tax return, up to $2,000 a year: 40% with an OHFA mortgage (MTC Plus) or 15% to 20% with another mortgage (MTC Basic). Offered by Ohio Housing Finance Agency (OHFA).

    Tax credit

    See the program Official page

Housing counselors near Mentor-on-the-Lake

The HUD-approved agencies closest to the center of Mentor-on-the-Lake, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Fair Housing Resource Center

    1100 Mentor Ave, Painesville · 5 miles away · Spanish

    Also serves in other languages.

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 12 more
    (440) 392-0147

  • Home Repair Resource Center

    2520 Noble Rd, Cleveland Heights · 16 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (216) 381-6100

  • Nid-Hca Valentine

    2490 Lee Boulevard, Suite 306, Cleveland Heights · 17 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 8 more
    (216) 932-6624

Every agency in Lake County All counseling agencies in Ohio

Help in Spanish near Mentor-on-the-Lake

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Mentor-on-the-Lake

In HUD’s record, no housing authority with an office in Lake County is named for Mentor-on-the-Lake or Lake County.

One other authority has an office in Lake County: see the list Source: HUD

Cities

Other cities in Lake County

These cities are also in Lake County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Lake County Housing in Ohio

Nearby cities

The cities closest to Mentor-on-the-Lake, with the typical home value.

Neighboring counties

If Lake County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Mentor-on-the-Lake.

All guides
A family walks a boardwalk trail in the forest; one of them uses a wheelchair.

Questions

Housing questions about Mentor-on-the-Lake

Short answers with the numbers for Mentor-on-the-Lake and all of Lake County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Mentor-on-the-Lake?

The typical home value in Mentor-on-the-Lake is $188,500, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Lake County it is $214,100.

How much does it cost to rent in Mentor-on-the-Lake?

Typical rent in Mentor-on-the-Lake is $1,062 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Lake County is $1,274.

What is the FHA loan limit in Mentor-on-the-Lake?

Mentor-on-the-Lake uses the FHA limit for all of Lake County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Mentor-on-the-Lake?

The typical homeowner in Mentor-on-the-Lake pays $3,167 a year, according to the U.S. Census Bureau. That is 1.68% of the home’s value; in Lake County, the rate is 1.62%.

Where can I find free help to buy or rent in Mentor-on-the-Lake?

There is 1 HUD-approved counseling agency with an office in Lake County. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).