Best places to buy rental properties in Ohio

February 16, 2022
● Written by
Teddy

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

OH Rental Vacancy Rate via Federal Reserve Bank of St. Louis

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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With FDIC-insured bank accounts and cards that seamlessly integrate with easy-to-use software, Nophin helps landlords increase returns and automate rental property finances. Check out what we offer on the Nophin homepage!

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.

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Please note: Nothing above should be construed as legal, investment, tax, nor financial advice. This content is for informational purposes only. Consult a lawyer and/or an accountant if the above is right for your personal situation.

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