Real Estate Investment Markets in Ohio

Ohio is in the Midwestern United States. It has a diverse economy, low cost of living and a growing population, making it an attractive location for real estate investors. In this article, Benzinga explores the six best real estate investment markets in Ohio, their pros and cons and answers to frequently asked questions.

Columbus

Columbus is the capital of Ohio and one of the fastest-growing cities in the Midwest. It has a strong job market, with a mix of Fortune 500 companies and startups as well as a growing tech industry. Columbus also has a thriving arts and cultural scene, with numerous museums, galleries and theaters.

Pros:

• Strong job market and growing population
• Low cost of living compared to other major cities
• Affordable housing prices and strong rental yields

Cons:

• Limited inventory and competition for desirable properties
• High property taxes
• Traffic congestion during rush hour

Cleveland

Cleveland is on the shores of Lake Erie and the second-largest city in Ohio. It has a diverse economy, with a mix of manufacturing, healthcare and technology industries. Cleveland is also home to a variety of cultural attractions, including the Rock & Roll Hall of Fame and the Cleveland Museum of Art.

Pros:

• Affordable housing prices and strong rental yields
• Low cost of living compared to other major cities
• Growing job market and revitalization of the downtown area

Cons:

• Some neighborhoods have higher crime rates and lower property values
• Cold winters and lake-effect snow
• Commute times can be long because of traffic congestion

Cincinnati

Cincinnati is on the Ohio River and the third-largest city in Ohio. It has a diverse economy, with a mix of manufacturing, healthcare and technology industries. Cincinnati is also known for its arts and cultural scene, with numerous museums, theaters and music venues.

Pros:

• Strong job market and growing population
• Affordable housing prices and strong rental yields
• Access to cultural attractions such as the Cincinnati Museum Center and the Cincinnati Zoo

Cons:

• Traffic congestion during rush hour
• Some neighborhoods have lower property values and rental yields
• High property taxes in some areas

Dayton

Dayton is in southwestern Ohio and the fourth-largest city in the state. It has a diverse economy, with a mix of manufacturing, healthcare and education industries. Dayton is also known for its aviation history and is home to the National Museum of the United States Air Force.

Pros:

• Affordable housing prices and strong rental yields
• Growing job market and revitalization of the downtown area
• Access to cultural attractions such as the Dayton Art Institute and the Victoria Theatre Association

Cons:

• Some neighborhoods have higher crime rates and lower property values
• Commute times can be long for those traveling to other cities in Ohio
• Limited inventory and competition for desirable properties

Akron

Akron is in northeastern Ohio and the fifth-largest city in the state. It has a diverse economy, with a mix of manufacturing, healthcare and education industries. Akron is also known for its history of rubber production and is home to the Goodyear Tire and Rubber Co.

Pros:

• Affordable housing prices and strong rental yields
• Growing job market and revitalization of the downtown area
• Access to cultural attractions such as the Akron Art Museum and the Akron Civic Theatre

Cons:

• Some neighborhoods have lower property values and rental yields
• Commute times can be long for those traveling to other cities in Ohio
• Limited inventory and competition for desirable properties

Toledo

Toledo is in northwestern Ohio and the sixth-largest city in the state. It has a diverse economy, with a mix of manufacturing, healthcare and education industries. Toledo is also known for its history of glass production and is home to the Toledo Museum of Art, which has an extensive collection of glass art.

Pros:

• Affordable housing prices and strong rental yields
• Growing job market and revitalization of downtown area
• Access to cultural attractions such as the Toledo Museum of Art and the Toledo Zoo

Cons:

• Some neighborhoods have higher crime rates and lower property values
• Commute times can be long for those traveling to other cities in Ohio
• Limited inventory and competition for desirable properties

Real Estate Investing Platforms in Ohio

Final Thoughts on Ohio Real Estate

Ohio offers many opportunities for real estate investors with its diverse economy, growing population and affordable housing prices. Columbus, Cleveland, Cincinnati, Dayton, Akron and Toledo are among the best real estate investment markets in Ohio, each with its unique strengths and challenges. Before investing, it's essential to do your due diligence, research the local market and work with a knowledgeable real estate agent or investment adviser.

Frequently Asked Questions