Rent vs Buy in Ohio
Compare 17 cities across Ohio. Find out whether renting or buying makes more financial sense in your area.
17cities analyzed
Avg Home:$256,176
Avg Rent:$1,368/mo
Avg Price/Rent:15.8
Ohio Housing Market Summary
17
Cities Analyzed
10
Favor Buying
0
Favor Renting
7
Toss-Up
Across Ohio's 17 analyzed cities, the majority (10 cities) favor buying over renting. This suggests Ohio generally offers good value for homebuyers.
The average home price in Ohio is $256,176, with average rents at $1,368/month. This gives an average price-to-rent ratio of 15.8.
$Most Affordable Cities
$$Most Expensive Cities
All Ohio Cities
Sorted by population. Click any city for detailed analysis.
| City | Median Price | Median Rent | Price/Rent | Break-even | Verdict |
|---|---|---|---|---|---|
| Columbus | $335,000 | $1,600 | 17.4 | 7 yrs | Toss-up |
| Cleveland | $260,000 | $1,600 | 13.5 | 5 yrs | Buy |
| Cincinnati | $270,000 | $1,550 | 14.5 | 3 yrs | Buy |
| Toledo | $300,000 | $1,500 | 16.7 | 5 yrs | Buy |
| Akron | $225,000 | $1,350 | 13.9 | 4 yrs | Buy |
| Dayton | $255,000 | $1,550 | 13.7 | 5 yrs | Buy |
| Parma | $260,000 | $1,200 | 18.1 | 8 yrs | Toss-up |
| Canton | $270,000 | $1,250 | 18.0 | 7 yrs | Toss-up |
| Lorain | $270,000 | $1,500 | 15.0 | 5 yrs | Buy |
| Hamilton | $215,000 | $1,450 | 12.4 | 5 yrs | Buy |
| Youngstown | $255,000 | $1,200 | 17.7 | 7 yrs | Toss-up |
| Springfield | $240,000 | $1,200 | 16.7 | 4 yrs | Buy |
| Kettering | $220,000 | $1,450 | 12.6 | 5 yrs | Buy |
| Elyria | $275,000 | $1,300 | 17.6 | 7 yrs | Toss-up |
| Lakewood | $225,000 | $1,350 | 13.9 | 4 yrs | Buy |
| Newark | $240,000 | $1,100 | 18.2 | 9 yrs | Toss-up |
| Mansfield | $240,000 | $1,100 | 18.2 | 7 yrs | Toss-up |
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These are general analyses based on median values. Use our comprehensive Buy vs Rent calculator to input your specific income, savings, and financial goals.
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