Best Cities for Investing in Ohio Real Estate

The Ohio real estate market has seen consistent growth in recent years, with residential property prices growing 5.8% year on year in 2023. This makes Ohio a very appealing destination for real estate investors. Ohio’s expanding population, urban and suburban landscapes, and economy all offer a variety of real estate investment options.

The Buckeye State has something to offer everyone. Regardless of whether you’re buying long-term rentals or flipping houses.

Best Cities in Ohio for Investing

Cincinnati

Cincinnati is well-known for its expanding job market, transportation and commerce industries and a high demand for rental properties. Especially in the areas near the University of Cincinnati.

1 bedroom rent: $1,362 (-2% YoY)
Median days on the market: 14
Median home price: $259,500 (+10.4%)
Homes sold above list: 28.1%
Rental market data | Housing market data

Cleveland

Cleveland is especially appealing to investors who want to buy houses at modest prices and benefit from rising values.

1 bedroom rent: $1,525 (+8% YoY)
Median days on the market: 33
Median home price: $110,000 (-4.3%)
Homes sold above list: 26%
Rental market data | Housing market data

Columbus

Columbus is not only the capital, but also the largest city in Ohio with notable population growth. The stable job market helps it stand out as one of the best places to invest in Ohio. The average rent is $1,419, average real estate properties are around $204,000, and its home to the Ohio State University. As such, Columbus is a desirable market for long-term rental investments.

1 bedroom rent: $1,410 (+8% YoY)
Median days on the market: 43
Median home price: $265,000 (+6%)
Homes sold above list: 33.4%
Rental market data | Housing market data

Youngstown

Youngstown has made large expenditures in its core region and has a strong emphasis on sustainable development. This growing city is a desirable choice for investors seeking high prospective returns.

1 bedroom rent: $887 (+14% YoY)
Median days on the market: 38
Median home price: $110,000 (+37.5%)
Homes sold above list: 23.1%
Rental market data | Housing market data

Akron

Akron’s real estate market is distinguished by its growth potential and affordability. The University of Akron and the city’s continuous urban renewal initiatives make it a desirable option for the rental property market.

1 bedroom rent: $847 (+4% YoY)
Median days on the market: 34
Median home price: $115,400 (+5.5%)
Homes sold above list: 27.9%
Rental market data | Housing market data

Dayton

Dayton’s housing market is well-known for being reasonably priced. The city is perfect for real estate investors looking to purchase long-term rental properties. The city’s emphasis on technology and innovation draws in skilled workers, which helps the overall Ohio real estate market.

1 bedroom rent: $847 (+13% YoY)
Median days on the market: 41
Median home price: $115,000 (+12.7%)
Homes sold above list: 29.4%
Rental market data | Housing market data

Toledo

Toledo boasts some of Ohio’s most reasonably priced real estate. Especially considering its proximity to Lake Erie, the rapidly expanding transportation network and the master plan to renovate and improve downtown Toledo.

1 bedroom rent: $782 (-4% YoY)
Median days on the market: 42
Median home price: $116,750 (+29.7%)
Homes sold above list: 34.7%
Rental market data | Housing market data

Is Ohio good for real estate investing?

Ohio is great for real estate investing due to its affordability, economic stability, and increasing housing demand. In 2021, property sales exceeded 31,000. Which was an increase of 4.4% from the year before. Ohio’s population has consistently grown well, surpassing 11 million residents. Here’s why real estate investors love Ohio:

Stable rental market:

Ohio has a stable rental market, attracting a diverse population of students, young professionals, and families seeking affordable living options. Cities like Columbus, Cleveland, and Cincinnati have a constant demand for properties because of their large student populations and growing job opportunities.​

Economic growth:

Ohio’s economy is resilient and diverse with sectors such as healthcare, education, manufacturing, and technology. This economic diversity helps safeguard against industry challenges. Attracts new residents in search of employment prospects. Consequently the real estate sector experiences improvement.

Affordable investment opportunities:

Compared to other states Ohio offers more affordable options for real estate investments. This affordability is particularly appealing to investors since it lowers the barrier to entry. It allows them to purchase investment properties outright and diversify across multiple properties.

Appreciating property values:

While Ohio’s real estate market is known for its affordability, it also exhibits appreciation of property values over time. Such gradual increases are advantageous for real estate investors looking for long-term capital gains.