Why Invest in Ohio?
Ohio is a prominent state in the Great Lakes region of the country and is known for having some of the best colleges and universities in the nation. As a leader in manufacturing and real estate investments, Ohio is an attractive choice for real estate investing due to its strong economy; the state’s GDP is ranked 7th in the nation.
Real estate investing opportunities are typically found in major metros such as Columbus, Cleveland, Cincinnati, and Toledo, but there are opportunities throughout the state.
While the manufacturing industry is quite strong in Ohio, other industries such as health care and energy are also fueling job growth. In total, there are seven Fortune 500 companies that call the “Buckeye State” home, including Progressive Insurance, Goodyear Tire & Rubber, Sherwin Williams, TravelCenters of America, and J.M. Smuckers. These large companies ensure that positions will continue to grow for this state, and renter supply will be available for rentals.
Although there are many different types of real estate to purchase in Ohio, single family rentals are one of the best choices. The rental market in Ohio is largely composed of workers in manufacturing and other major industries as well as students attending high quality colleges and universities throughout the state. Income properties in Ohio are providing investors with a sustainable means to generate cash flow, build equity, and growth through appreciation.
Popular Cities in Ohio
Some of the larger and most poular cities in the state include:
While each of these cities have their own unique local economies, they play a bigger part in fueling the massive economy that drives the state of Ohio.
A strong economy leads to an increase in jobs, which is one of the critical factors that affects housing and real estate investments.
Getting Started in Real Estate Investing? HomeUnion® Can Help
HomeUnion® is the leader in residential real estate investment. With the use of big data and machine learning, we analyze information on millions of single family homes in Ohio; and across the United States and calculate home values RENTestimate for every property in Ohio. If you’re looking for the best investment properties across the country, visit our comprehensive investment site.