Ohio has recently become a very popular moving destination for plenty of reasons. A lot of young people are deciding to move there because this state has a lot of benefits. And we are here to tell you everything about investing in Ohio real estate and why it’s a good idea. We are also going to tell you about one of the best places for investing. So, if this is something you’re interested in, you came to the right place.
Why investing in Ohio real estate is a good idea?
The first thing you’re probably curious to know are the reasons why investing in real estate in Ohio would be a good idea. Well, for starters, Ohio is a very lovely state and it’s loved by a lot of people. It has plenty of nature but it’s also modern. Ohio is a popular moving destination among young people. Having a house or an apartment in Ohio is a great idea even if you don’t live there. This gives you an opportunity to earn some money by renting out your property. A lot of students move here for university or college and a lot of young couples move here to start their families. And a lot of the times they can’t afford to purchase a home so they opt for renting.
Real estate market in Ohio
The next information you need to know before investing in Ohio real estate is a little bit about the market itself. The median home value in Ohio is around $157,000. When you compare this to the national average, it’s pretty reasonable. 39% of homes in the entire state of Ohio cost between $120,000 and $240,000. And 37,5% of homes cost under $120,000. This is why over 60% of people in Ohio own their homes. The houses in Ohio are mostly single-family houses with three bedrooms.
Where to invest?
Ohio has plenty of amazing cities. Columbus is the capital and it’s where the homes are on the pricier side. Homes in Cincinnati are also on this side. But there are parts of the state where you can live a very nice life and not have to pay a small fortune for a home. Cleveland is one of those cities.
Reynoldsburg is also a great place for investing in real estate in Ohio. It is a small city near Columbus where a lot of people have been moving to. The number one reason why they are moving to Reynoldsburg is the fact that you can easily travel to Columbus but you don’t have to live there and spend a lot of money on housing. Hiring affordable storage services in Reynoldsburg is also much easier than doing it in Columbus. So, if you were thinking about investing in Ohio real estate, Reynoldsburg is the perfect city for it.
Investing in Ohio real estate can be beneficial on various levels. Firstly, there are a lot of cities to choose from that offer properties at affordable prices. Hence, you can move there easily. Secondly, buying real estate here is also favorable if you want to rent your property since renting is very popular. Do your calculations carefully and decide what is the best option in your situation.
Lisa Roberts is a long-time real estate expert. For the past two decades, Jack has worked for a large real estate company and he is an expert when it comes to investing in rental real estate. Currently, he lives in Brooklyn with his stay at home wife and two daughters. On the weekends, he prefers to spend time with his family, since on workdays he works long hours. Jack’s plan is to invest in rental real estate and retire early.