The Toledo Real Estate Market
A High Cashflowing and Affordable Midwestern Region
About Toledo Real Estate
Toledo, Ohio, is an excellent choice for real estate investors searching for affordable single-family turnkey rental properties in a market with consistent and reliable growth. The Toledo market offers an average price per square foot of less than $90, making it an attractive option for investors looking to maximize their investment dollar. According to Money Crashers, Toledo ranks as the second-best buyer's market in the US.
Ohio Cashflow recognizes the potential of this market, as relatively inexpensive housing has always been a bright spot in Toledo. The city's housing prices offer better value than other Ohio cities, such as Cincinnati and Dayton. Although Toledo offers affordable housing, the city remains a rental market, with almost half of households renting rather than owning.
Toledo is located in northwest Ohio, situated along the shores of Lake Erie and less than a one-hour drive from Detroit. The economy is driven by transportation, manufacturing, auto assembly, education and healthcare, and glass manufacturing, earning Toledo the nickname "The Glass City."
Population and job growth in the Toledo Metro area are slow but steady, making it an attractive choice for turnkey investors seeking long-term growth potential. The Toledo market's rising rents, combined with affordable real estate prices, are drawing the attention of investors, including Ohio Cashflow.
Toledo, Ohio, a thriving city nestled along the western shores of Lake Erie, has recently experienced a resurgence in population growth. Fueled by an invigorated economy, job opportunities, and urban revitalization projects, this Midwestern gem has emerged as a desirable destination for both individuals and families seeking an affordable, yet vibrant, community.
Toledo has secured the top spot in new business investment, a clear indication of the city's growing economic momentum. As per the City of Toledo, there are presently $2.2 billion worth of development projects underway, expected to generate 3,500 fresh job opportunities and over 1,000 new residential housing units.
Target industry clusters in Toledo and Lucas County include plastics and automotive components, engineering services, logistics and warehousing, biomedical and advanced manufacturing.
Largest employers in Toledo and Lucas County include ProMedica, Mercy Health, Bowling Green State University, The University of Toledo, The Andersons, GM, HCR ManorCare, First Solar, Welltower real estate investment trust, and Marathon Petroleum Corporation.
Interstate highways I-70 and I-80 run through Toledo and put the region within an 8-hour drive of 60% of the U.S. population.
Real Estate Market
If you're a real estate investor on the lookout for a good rental property at a fair price, you'll be delighted to know that the Toledo real estate market is currently a buyer's market. This means that the supply of homes exceeds the demand, creating an opportunity for investors to purchase a rental property without being entangled in a bidding war.
Strong Renters' Market
In recent years, Toledo, Ohio has established itself as a haven for renters, with its attractive and robust rental market drawing attention from both local and out-of-state residents. Boasting affordable rents and a diverse array of housing options, Toledo offers a unique blend of urban living, historic charm, and modern amenities that cater to a wide range of lifestyles and preferences.
As the demand for rental properties continues to surge, investors and property management companies are seizing the opportunity to expand their portfolios and meet the growing needs of the community. This strong renter's market not only contributes to the city's economic growth but also fosters a sense of community among its residents, ultimately enhancing the overall vibrancy of Toledo.
Quality of Living
Toledo has garnered solid rankings in several categories according to Forbes, making it an attractive place for business and careers. These categories include job growth, education, cost of doing business, and overall livability.
Living in Toledo is also affordable, with the cost of living 13% below the national average. Niche.com has named Toledo one of the best places to live in Lucas County, with high ratings for cost of living and nightlife.
Lucas County offers a variety of attractions, including the Toledo Museum of Art, Toledo Zoo, Lake Erie and the Maumee River, and expansive forests and wetlands. The city's climate is characterized as humid continental with four distinct seasons, featuring warm and humid summers and cold snowy winters.
Toledo is known as "The Glass City" and is home to several companies manufacturing glass windows, bottles, and art. U.S. News & World Report ranks Toledo among the top cities in the country to live and retire.
Toledo's healthcare facilities, such as ProMedica Toledo Hospital and Advanced Specialty Hospital of Toledo, are also highly rated, making it a great city for residents in need of quality medical care.
Are you ready to invest with the best?
Turnkey real estate investing only works when trust and a relationship can be established between the investor and the turnkey company.
At Ohio Cashflow, we are known to turn down more investors than we take on.
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