Ohio
Investing in Ohio
The Buckeye State borrows its nickname from the official state tree, the buckeye. Home prices here are relatively cheaper than major metropolitan areas. And, given the low cost of living, great weather, and stellar job opportunities in the state, Ohio can be an attractive place to raise a family. The Nophin team crunched the numbers and found the five best places to invest in Ohio rental properties.
Statewide vacancy rates
Columbus, OH
Columbus is the capital of Ohio and home to several colleges including Ohio State University.
- Population: 905,748
- Median household income: $54,902
- Median 1-bedroom monthly rent: $1,207
- Median listing home price: $259,900
Cleveland, OH
Cleveland is the second largest city in Ohio and where the Rock & Roll Hall of Fame is located. It's one of the most affordable cities to buy a home in.
- Population: 372,624
- Median household income: $31,838
- Median 1-bedroom monthly rent: $1,200
- Median listing home price: $120,000
Cincinnati, OH
Cincinnati, home to the Cincinnati Bengals (NFL), is a huge tourist spot as it hosts the largest Oktoberfest in the country each year.
- Population: 309,317
- Median household income: $42,663
- Median 1-bedroom monthly rent: $950
- Median listing home price: $239,900
Akron, OH
Akron is the birthplace of the trucking industry and has historically been a huge producer of rubber.
- Population: 190,469
- Median household income: $40,281
- Median 1-bedroom monthly rent: $625
- Median listing home price: $125,000
Youngstown, OH
Youngstown is part of the Rust Belt and historically known for its place in the steel industry.
- Population: 60,068
- Median household income: $30,129
- Median 1-bedroom monthly rent: $625
- Median listing home price: $114,900
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Methodology
To help us determine the five best cities in all states, the Nophin team used data from several sources including the 2020 United States Census, the Department of Housing & Urban Development, Federal Reserve Economic Data (FRED), the National Association of REALTORS®, Zumper, internal data, and other reputable sources.