The Most Expensive Lakes in Ohio to Buy a Second Home

Written by Samantha Stanich
Updated: August 12, 2023
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There are beautiful lakes all over the world. However, the Midwest is home to some of the most renowned lakes. In fact, the Great Lakes are bordered by the six Midwestern states of Minnesota, Wisconsin, Illinois, Indiana, Michigan, and Ohio. The Buckeye State sits on the Lake Erie shoreline and contains some of the best lake towns. And, if you want to experience lake season in Ohio in luxury, some of the most expensive lakes are the best place to settle down!

Overview of the Most Expensive Lakes in Ohio to Own a Second Home

If you love lake life such as swimming, kayaking, and hiking, you may want to consider buying a home on your favorite lake. You can enjoy the natural beauty of the lake in every change of the leaves, and the stillness during the off-seasons. A lake home can also be an excellent real estate investment. And if you have the funds, you can even make your lake home your second home for vacations or to rent out to visitors.

Here are some of the most expensive lakes in Ohio to buy a second home or one day make your forever home!

Aerial View Of Lake Erie Costal Town, Geneva On The Lake Ohio.

Geneva-on-the-Lake is a small resort town that gives tourists a chance to enjoy lake season. They can see if they want to find a lake home in Ohio.

©IanSkylake17/Shutterstock.com

1. Lake Erie

Lakefront residences in Cleveland, Ohio.

The Great Lake is a popular lake to live on for Cleveland’s professional athletes.

©Henryk Sadura/Shutterstock.com

Lake Erie’s 871-mile shoreline is dotted with beautiful lakefront homes, the most expensive lake in Ohio. Some of these homes are the most expensive in the entire state. This includes the Waterwood Estate. It is nicknamed “the castle” due to its size. It boasts 37 rooms, not including bathrooms, closets, or mechanical rooms. The home sits on 160 pristine acres and occupies 2,300 feet of the lake’s shoreline. It sold in 2020 for $3.6 million and is set to become a “wellness community.”

The lake’s shores are home to approximately 12.4 million people. Its shallow waters get warm for swimming, have a diverse ecosystem of fish, and are even wonderful for boating. It’s no surprise that some of Ohio’s best and wealthiest lake towns sit on Lake Erie. A study by Stacker, a data journalism hub, found the 46 best lake towns in the U.S. with the help of information from WalletHub. Six of those towns sit on Lake Erie. They are:

  • Lorain (42)
  • Ashtabula (37)
  • Oregon (33)
  • Vermilion (24)
  • Bay Village (14)
  • Rocky River (8)
Twilight and sunset pictures of downtown Cleveland and Lake Erie

Luxury apartments also sit on the lake in downtown Cleveland.

©iStock.com/Ralph Navarro

Also, many of Ohio’s wealthiest towns also sit on the lake. This includes Bay Village and Avon. Both of the towns also have the most expensive homes on the market in the Buckeye State. The home in Bay Village is nestled on the shoreline with six bedrooms and eight bathrooms. It even has a boat house to access the Great Lake. The 12,955-square-foot home is going for $5.2 million. The waterfront home in Avon sits on 1.2 acres with six bedrooms and seven bathrooms and is selling for $5.5 million.

Apartments on Lake Erie

The city is highlighting the lake with new build apartments as well! There are opulent apartments in The Flats. This is a redeveloped area on the banks of the Cuyahoga River with bars, restaurants, water taxis, and walkways. There are also apartments downtown that are built so they overlook the lake, the stadium, and the lighthouse. The extravagant units are going for $1.6 million.

Lake Erie’s wealthy communities offer safety and security to those who live there. It is not only a Great Lake, but a great shore to own a home!

Home for sale: The builder of the home is a fellow of the National Academy of Inventors and the lead patent holder on hundreds of U.S. and international patents. The home’s nickname is “the home of the future” and its unique technology puts it above other homes. For example, the home’s blinds are programmed to open and close automatically depending on when the sun rises and when it sets. They will even adjust depending on the cloud cover. It sits on three acres of lakefront property, and even with no lake access, still boasts one of the highest price tags in the area. Price: $10,000,000

2. Scotio River

The Scotio River is not exactly a lake, however, it offers kayaking, fishing, boating, swimming, and more! Also, the wealthy community of Dublin sits on the scenic waterway. The prosperous town is home to many educated intellectuals with 50% of its residents holding a bachelor’s degree and 26% with a graduate or professional degree. In fact, the state’s most expensive home for sale is on the scenic river. It is on the market for $8 million and sits on 6.82 acres. It boasts 16 bedrooms, 26 bathrooms, and even an eight-car garage.

The river runs through the heart of the state capital, Columbus. The city and its surrounding suburbs depend on it for drinking water and look to it for recreation. In 2015, the town created the Scioto Mile. It is 33 acres of parkland downtown. The project narrowed the river back to its more natural state and was a work of environmental rehabilitation. There are multi-use trails along the river to enjoy the city and nature combined!

House for sale: The family home is among the trees of the Scotio River. It has breathtaking views of the waters and its open floor plan allows homeowners to relax and take it all in. Price: $739,000

Aerial view of Columbus City Ohio with Scioto river during sunset

The Scioto River is the longest river that is entirely within Ohio.

©Agnieszka Gaul/Shutterstock.com

3. Lake Milton

Located in northeast Ohio, Lake Milton is an underdog when it comes to wealth. It is on its way to becoming one of the most expensive lakes in Ohio. The 1,700-acre reservoir and 23-mile scenic shoreline saw a surge in the housing market starting in 2017. Now, luxurious homes overlook the lake with an average cost of $364,180 and climbing.

In 1913, the lake was created because a dam was built to hold back water from the Mahoning River to create a water supply for the Youngstown steel industry. However, the city eventually found other water sources and the lake became recreational. Its warm temperatures in the summer welcome swimmers and boaters, and the lake freezes in the winter for snowshoeing and cross-country skiing.

The housing boom continued, and today Lake Milton is still a recreational haven for the wealthy. Anyone driving around the lake can see all the new houses under construction. Though the lakefront plots are on the smaller side, wealthy residents found a way to get the most out of their square footage. They build deep instead of wide and add multiple stories. The lake attracts swimmers, boaters, and fishermen, and there is one public beach at the state park. It is a quiet, affluent, and up-and-coming lakefront to buy your second home.

House for sale: This new build is part of the up-and-coming housing market at the lake. The home was just built 2022, the ranch home has four bedrooms and a mother-in-law suite with its own laundry and kitchen. The home sits on three acres of lakefront with 300 feet of frontage on the water. You can walk out to the lake from the basement, and the floor-to-ceiling windows let the home bathe in natural light from the picturesque lake. Price: $1,539,000

Houses near the lake

Large family homes are replacing quaint lake cottages on Lake Milton.

©Nickolay Khoroshkov/Shutterstock.com

4. Alum Creek Lake

Ohio’s second priciest zip code is in Galena. The small town contains one of the most expensive lakes in Ohio, Alum Creek Lake. It is a very small town with only a population of 653, but it is always among the state’s wealthiest communities rankings. Its waterfront homes and charming downtown feature New England-style properties and it is only 21 miles away from the state capital. The lake is an ideal location for those looking to live in luxury in an affluent county, but also be close to the hustle and bustle of the city.

For those looking for a lake house in an expensive county but with a small-town atmosphere, Galena and Alum Creek Lake to the perfect spot for a second home!

House for sale: The estate was built in 2005, and is a private waterfront beauty that overlooks the Hoover Reservoir. It has four bedrooms and four baths and is 8,675 square feet. It is perfect for entertaining with a library and a billiards room with a wet bar. Price: $2,795,000

Boat speeds across the water of alum creek dam in Galena Ohio after sunset.

Average homes in the Alum Creek Lake area start at $575K.

©arthurgphotography/Shutterstock.com

Summary of the Most Expensive Lakes in Ohio

If you are looking for opulence and grandeur for your second home, you can stop at the Buckeye State. It offers four seasons on large land plots and beautiful old and new homes. There is a style and a look for everyone! Check out the state’s waterfront today!

RankMost Expensive LakesPrice of Homes Sold/Selling
1Lake Erie$5.2 to $5.5 million
2Scotio Lake$739,000
3Lake Milton$1,539,000
4Alum Creek Lake$2,795,000
Summary Table of the Most Expensive Lakes in Ohio

The photo featured at the top of this post is © IanSkylake17/Shutterstock.com


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