Thanks in part to a diverse range of different metro areas, Ohio offers something for every Rent to Own buyer. Low prices and slow growth mean opportunity for aspiring investors to use alternative financing as a means for securing a property, all the while locking in a good sale price now.
As of the beginning of 2015, the median value of owned homes in Ohio was $103,700 and the median asking price was $85,200 according to Trulia. Average sale prices for homes were relatively close to the following: 1 bedroom - $80,000, 2 bedrooms - $95,000, 3 bedrooms - $130,000, and 4 bedrooms - $210,000. Some of the most popular metro areas in the state are Columbus, Cleveland, and Cincinnati.
School rankings in Ohio are good with high scores from students, and the state has one of the largest public university systems in the United States. According to Wikipedia, Ohio University is not just a major public research university for the US but is also the first university to be chartered through an act of Congress in 1787. Ohio State University is among the largest and most famous universities in the nation and home to the Buckeyes.
Culture and Local Points of Interest
Ohio offers many points of interest to its residents, including the Rock and Roll Hall of Fame, Cedar Point theme park, Cincinnati Museum Center, and the Cleveland Museum of Art. Due to the low pricing in Ohio’s more populous areas, Rent to Own homes are a good way to get into the housing market if you need a leasing period to give you extra time to save up for that initial sum and to fix any credit issues you may have. If you’re looking for plentiful inventory to choose from and a diverse landscape of culture and weather, start looking in the Buckeye State!