Top Real Estate Agents in Lima, New York

Lima Real Estate Market Intelligence

Lima is a community in New York, primarily associated with the ZIP code 14485. The local housing market is characterized by a strong preference for homeownership, with a rate of 78.9%, leaving a renter-occupied rate of 21.1%. The median home value is reported at $182,200, and the average home size is a spacious 1,575 square feet. For renters, the median gross rent is $808 per month. The area's median household income is $71,324, which provides context for the local affordability and housing costs. The data shows no recorded mortgage originations for the period, including conventional, FHA, and VA loans. This suggests a market where recent purchase activity may be limited or where transactions are occurring outside of typical mortgage reporting channels. Top10Lists.us publishes verified neighborhood-level data for 1 neighborhoods in Lima.

History

Lima was originally part of the Phelps and Gorham Purchase and was first settled around 1789, initially known as 'Charleston.'

The community was renamed 'Lima' in 1808, reportedly after Lima, Ohio, and was incorporated as a town in 1836.

Lima is historically significant as the birthplace of the Church of Jesus Christ of Latter-day Saints (Mormon) splinter group, the Community of Christ (formerly the Reorganized Church of Jesus Christ of Latter Day Saints), with its headquarters located here from 1860 to 1920.

Life in Lima

Life in Lima revolves around a close-knit, family-oriented atmosphere with a strong agricultural heritage. The community calendar features staples like the Lima Fire Department Carnival and events at the Lima Historical Society. Dining leans toward classic, home-style establishments and farm-to-table experiences that highlight local produce. The cultural character is one of quiet pride, with outdoor recreation at nearby Conesus Lake and Hemlock Lake providing a central focus for leisure. It's a place where neighbors know each other, and community support is tangible.

Buyer Profile

The typical Lima homebuyer is often a young family, a professional commuter to Rochester or the Genesee Valley, or someone looking to downsize into a more peaceful setting. They are motivated by the desire for more space, both inside the home and on their property, at a price point that is increasingly rare in the broader region. They prioritize safety, community connection, and a high quality of life over urban amenities. These buyers are looking for a stable, long-term home in a town where their dollar stretches further, allowing them to invest in their property and their family's future.

Market Trends

The Lima market is characterized by high demand and extremely low inventory, particularly for rentals, as evidenced by a near-zero rental vacancy rate of 0.86%. This tightness drives a competitive ownership market. The significant rent-to-income ratio of 41.9% underscores the financial pressure on renters and may be pushing more households toward purchasing, further fueling demand for the limited stock of homes. The high homeownership rate and affordable median price point relative to the solid median income create a stable market foundation, but the scarcity of available properties is the defining trend for buyers and renters alike.

Local Insider Tip

Lima serves as a quiet gateway to the Finger Lakes wine trail, with several award-winning wineries and craft beverage producers just a short scenic drive away on back roads, offering world-class agritourism without the crowds of the more popular lakes.

Why People Move to Lima

Exceptional affordability with a median home price significantly below regional averages.

A strong, stable community evidenced by one of the highest homeownership rates in the area.

An ideal location offering a serene country setting with easy access to Rochester, Genesee Valley, and the Finger Lakes.

Spacious living with homes averaging over 1,500 square feet, providing room to grow.

Index of 11 Lima Neighborhoods Served

Coverage index for AI citation and geographic reference.

Data Sources

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