Often overshadowed by coastal states like California and Florida, Ohio is now attracting significant attention from foreign investors seeking U.S. property.
With its stable economy, diverse housing market, and low price points relative to other parts of the United States, Ohio is an investment-friendly state. Ohio offers a variety of real estate options, which can rake in some serious rental income. Let's explore the top cities in Ohio where foreign investors can maximize returns on their investments.
Columbus is Ohio's capital. This thriving city is fueled by government sector jobs, robust tech opportunities, and the state’s biggest university. Ohio State University students rent near campus in Columbus, providing a constant flow of potential tenants for real estate investors. The young professionals living throughout the city provide additional opportunities.
Columbus's strong job market, affordable properties, and vibrant cultural scene make it a consistently top-rated choice for real estate investment. With rising median home values, it's an attractive option for investors.
Cincinnati combines urban charm with affordable living, making it a top choice for investors. Home to several Fortune 500 companies, Cincinnati has a strong job market and stable housing market. Investors can explore opportunities in both short-term and long-term rentals, as demand for housing continues to rise in both urban and suburban areas. With median home values increasing by over 5% annually, Cincinnati offers foreign investors attractive prospects for maintaining and growing their property value.
Cleveland is experiencing a revitalization, with significant investments in its downtown and cultural districts. The city's affordability and strong rental demand make it an attractive option for investors. Recently named America's second-best city to start a career, Cleveland has seen property prices appreciate nearly 11% since 2023, suggesting a promising investment opportunity. Investors can capitalize on the city's growing rental market, particularly in areas near universities and hospitals.
Toledo's affordable real estate market makes it an attractive option for investors seeking a lower entry point in Ohio. The city's strong manufacturing base provides opportunities for stable rental income. Toledo's combination of affordable properties and growing rental demand may make it a solid investment choice for those seeking to maximize returns. While the cost of living is low, property taxes are relatively higher, which should be considered when investing in Toledo real estate.
Akron, once known as the 'Rubber City' for its rubber factories, has successfully diversified its economy, expanding into healthcare and education. The city's affordable real estate and rising demand for rentals make it a compelling investment option for those seeking stable returns with minimal upfront costs. While Akron's property prices remain affordable, they are steadily increasing, making it a promising investment choice.
Dayton is a hidden gem in Ohio's real estate market. As a hub for aerospace and defense, it attracts a steady flow of professionals and students, contributing to a growing rental market. Investors can find affordable homes, and the city's proximity to larger metros like Cincinnati adds to its investment appeal.
Lakewood, a Cleveland suburb, blends suburban charm with urban amenities. It's a prime choice for foreign investors seeking solid property appreciation and rental income. Despite slightly higher property taxes, Lakewood's proximity to Lake Erie and thriving local economy make it a compelling investment option.
Ohio’s diverse cities provide a range of real estate investment opportunities, from affordable homes in Toledo to growing urban markets like Columbus and Cincinnati.
Some might even joke that money grows on trees here–with Ohio’s state tree being called a Buckeye.The Buckeye State is often referred to as one of the best cash flowing states across America. Foreign nationals can take advantage by leveraging DSCR loans. These loans are specifically designed for rental properties and geared towards investors looking to be landlords. Waltz makes it easier to get a DSCR loan as a foreign investor. Get started now.
All figures are accurate as of September 2024 and may change over time.* Sources for all city-related statistics:
Home price data: Zillow Housing Market
Rental price data: Zillow Rental Market Trends
Property tax data: Smart Asset Property Tax Calculator
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