There’s a the age old question everyone thinks about when they decide to move to a city in Ohio:
Should I buy a place or rent?
Well, we aren’t here today to solve that problem for you exactly. We are just assuming you’ll do the right thing and a buy a place 😉
And while we are happy to tell you the best place to live in Ohio, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the Buckeye State.
To do that we are going to look at places in Ohio that are growing faster than average, but where home prices are below average. In every day terms, the “deals”.
The best deal in Ohio at the moment? That would be Kenton according to our analysis.
Here’s a look at the top ten places to buy a home in Ohio for 2019:
- Kenton (Photos | Homes For Sale)
- New Lexington (Photos | Homes For Sale)
- Moraine (Photos | Homes For Sale)
- Shelby (Photos | Homes For Sale)
- Defiance (Photos | Homes For Sale)
- Northwood (Photos | Homes For Sale)
- Trenton (Photos | Homes For Sale)
- Columbus (Photos | Homes For Sale)
- Van Wert (Photos | Homes For Sale)
- London (Photos | Homes For Sale)
The methodology that wen’t into this can be a bit complicated, so we’ll break it down for you in as much detail as we can below.
For more Ohio reading, check out:
- These Are The 10 Best Counties To Live In Ohio
- 10 Best Places To Raise A Family In Ohio
- These Are The 10 Best Places To Retire In Ohio
How do you determine the best places to buy a home in Ohio for 2019?
We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we’ve put a lot of thought into what goes into finding a good place to buy a home.
So all that thinking has come to this moment where we get to spell out how we’d approach finding an up-and-coming place to live in Ohio. Put differently, the analysis will try to find places in Ohio with undervalued homes relative to pent up demand.
To do that we looked at the most recent American Community Survey Census data for 2013-2017 and compared it to the previous vintage (2012-2016). Specifically, we used the following criteria:
- Y-o-Y Change In Population (People want to live here)
- Y-o-Y Change In Median Home Prices (People are willing to pay for it)
- Home Prices Relative To The State Average (It’s still kinda cheap)
We want places that are growing, have seen home prices increase in recent years, and are still “cheap” for Ohio with the following caveats:
- Home prices had to be within 20% of the state average (Much lower than that and you get to some of the more dangerous places)
- Home prices increased in the last year, and
- Above 5,000 people (Bigger cities have more data points)
So of the 1,203 cities and towns in Ohio, only 256 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 256 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a “best place to buy” index with the place having the lowest index being the best.
Turns out that Kenton is the best potential gem in the not-so-rough in the Buckeye State.
Read on for more on these places.
In 1845, Kenton was incorporated as a village; it became a city in 1886. The city was named after frontiersman Simon Kenton.
What is now the city of Moraine was once a part of Van Buren Township followed by a brief period as a part of Kettering. Citizens of the Moraine area seceded from Kettering forming the new Moraine Township in 1953, before incorporating as a municipality in 1957. Moraine later annexed parts of Miami and Jefferson townships.
The city contains the site of Fort Defiance, built by General “Mad” Anthony Wayne in August 1794, during the Northwest Indian War, at the confluence of the Auglaize and Maumee rivers. General Wayne surveyed the land and declared to General Scott, “I defy the English, Indians, and all the devils of hell to take it.” This area became Fort Defiance. Today a pair of cannons outside the city library on the Maumee River overlook the confluence and mark the location of Fort Defiance, along with a mounded outline of the fort walls. The city was named after Fort Defiance.
Northwood was originally Ross Township. It was the northernmost township in Wood County from its establishment on April 18, 1874 until December 1, 1962. Farms, gardens, orchards, and railroads covered the area located just south of east Toledo. In 1898 Edward Ford’s glass factory was built along the Maumee River, which ultimately led to the incorporation of the village of Rossford in 1939 within the western portion of the township. Ross Township was then divided so that Rossford Township would serve as a barrier between Rossford and the remaining Ross Township. On December 1, 1962, Ross Township ceased to exist when it became incorporated as the city of Northwood, so aptly named because of its location at the top of Wood County. With its departure, Wood County dropped its number of townships from 20 to 19.
Trenton was originally called Bloomfield, and under the latter name was platted in 1815. Bloomfield was named for Joseph Bloomfield, governor of New Jersey. In 1831, it was discovered that there was already a Bloomfield post office in Ohio, and so the town was renamed after the state capital of New Jersey at Trenton.
The area including modern-day Columbus once comprised the Ohio Country, under the nominal control of the French colonial empire through the Viceroyalty of New France from 1663 until 1763. In the 18th century, European traders flocked to the area, attracted by the fur trade.|The area found itself frequently caught between warring factions, including American Indian and European interests. In the 1740s, Pennsylvania traders overran the territory until the French forcibly evicted them. In the early 1750s, the Ohio Company sent George Washington to the Ohio Country to survey. Fighting for control of the territory in the French and Indian War became part of the international Seven Years’ War. During this period, the region routinely suffered turmoil, massacres, and battles. The 1763 Treaty of Paris ceded the Ohio Country to the British Empire.
Van Wert was surveyed in 1824 by Captain James Riley, who was contracted by the government to survey lands purchased from Native Americans under a treaty in 1818.
Soon after the village was platted in the early 1810s, a Methodist church was founded in the community. Today known as First United Methodist Church, this congregation built a small log church building in 1820; it was London’s first church. In the early 1900s, the church added facilities for the storage of human milk to sustain the orphanage it then operated.
There You Have It – The Best Places To Purchase A House In Ohio for 2019
There’s our analysis of the best places to buy a house in Ohio. And, to be clear, we aren’t necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.
In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 0 places in the state.
So if we’d could rent or buy in these cities, we’d definitely buy.
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