Summit County

Summit County sits at the more expensive end of Ohio's buy-and-hold market, with a median home price of $223,182 and median rent of $1,232, producing a gross rent-to-price ratio of 0.066, or roughly 79 cents of monthly rent per $1,000 of purchase price. The model cap rate comes in at 4.31%, which is thin but not disqualifying in an Ohio context. The cash-flow picture at today's rates is negative: using a 6.85% 30-year mortgage on a 20% down payment, the model shows a monthly cash flow of -$369 and a cash-on-cash return of -8.63%. That's the honest math at current financing costs. The appreciation score of 83 out of 100 and a 3.85% year-over-year price gain suggest the market is compensating investors through equity growth rather than immediate income, placing Summit squarely on the appreciation end of the spectrum relative to its Ohio peers.

The -$369 monthly shortfall means Summit is not a county for the investor whose business model depends on day-one cash flow. The numbers suit two profiles better. First, the appreciation-oriented buyer willing to subsidize carry costs in exchange for price growth that at 3.85% annually is outpacing the Ohio median in many comparable counties. An affordability index of 81 and median household income of $68,360 support continued owner and renter demand at these price levels. Second, the value-add operator who can push rents above the $1,232 median through renovation or repositioning, since closing even $150-$200 of that monthly gap meaningfully changes the return profile. A purely passive cash-flow buyer scanning for day-one yield should look at cheaper Ohio markets before committing capital here.

The tax and insurance carry deserves a dedicated line on your underwrite. At a state-average effective property tax rate of 1.56%, Ohio is a high-tax state (Tax Foundation 2024), and Summit should be flagged accordingly. That rate generates an estimated $3,482 in annual property tax on the median-priced asset, and combined with $513 in annual insurance, the monthly tax-plus-insurance burden runs $333. That figure alone accounts for a significant portion of the $431 in estimated monthly expenses the model uses, and it's the number most often underestimated by investors coming from lower-tax states. Be aware this is a state-average estimate; actual Summit County and township rates can differ, sometimes materially, so pulling the specific parcel's tax bill before closing is non-negotiable.

No economic anchors were provided in the underlying data, so this analysis does not speculate on specific employers or demand drivers. What the data does show is a population of 539,361, making Summit one of the larger Ohio counties, which generally correlates with a more liquid resale market and a broader tenant pool than smaller rural counties. The stability score of 50 out of 100 is the weakest metric here and merits attention; it suggests the market carries meaningful cyclical or demographic risk that partially offsets the appreciation story. Investors should underwrite conservatively on vacancy and tenant turnover assumptions rather than assuming the large population translates automatically into stable occupancy.

Compared to the five neighboring counties in the data, Summit's rent-to-price ratio of 0.0662 sits in the middle of the pack. Erie County clears the field on raw yield at 0.0738, with a median rent of $1,405 on a $228,638 median price, and carries a slightly higher overall score of 70 versus Summit's 69. Hancock County also edges Summit on yield at 0.0685. Stark County and Richland County both offer lower purchase prices ($208,291 and $187,141 respectively) with lower rents, and Stark's rent-to-price ratio of 0.0641 is below Summit's despite the cheaper entry point. The case for choosing Summit over its neighbors comes down to two things: scale and appreciation. At 3.85% price growth and a population of 539,361, Summit offers a larger, more liquid market and a stronger appreciation score than any neighbor in this dataset. An investor who needs exit optionality, plans to hold five-plus years, or is building a portfolio where some assets carry and others grow should weight Summit's appreciation trajectory. An investor whose primary filter is cash-on-cash yield from day one should look hard at Erie County before committing to Summit.