Are you ready to move to Ohio and experience everything the state has to offer? In Ohio, you can enjoy the changing seasons, outdoor activities, job growth, and affordable houses. To help narrow down your search, here are the five most affordable places to live in Ohio.
Ohio is one of those states that might get overlooked when it comes time to decide on a place to settle down. If you like to spend time outside, watch sports, eat unique foods, and enjoy craft beer, you'll want to check out Ohio.
Each city in Ohio is unique and offers something different that the others don't. Whether you want to live in one of it's bigger cities or plant your roots in a quiet town near Lake Erie, you'll find the perfect place for you. What's great about Ohio is you don't have to worry about spending a fortune to live in a safe neighborhood with a beautiful house. Here are five affordable places to live in Ohio.
Bexley
Bexley, Ohio is a suburban city located in Franklin County. It has a fairly small population of around 13,000. Here, you can find a plethora of large houses and estates nestled in the historic part of town. Bexley has some of the best public and private education institutions, making it a very sought-after city for families.
The economy in Bexley is strong and has no plans to slow down anytime soon. Their largest industries are educational services, scientific services, and health care assistance. These high paying industries bring in many new residents to Bexley every year.
In Bexley, residents enjoy a nice median household income of $104,000, which is increasing by 0.924% every year. This pairs nicely with the median home value of $328,300. Bexley home values have gone up 1.7% over the past year and Zillow predicts they will rise 1.0% within the next year. If you prefer renting over buying, monthly rent prices sit around $2,100 now.
West Chester
West Chester is 1 of the 13 townships of Butler County, Ohio. It sits about 18 miles north of Cincinnati, making an ideal city to live in if you commute for work. West Chester has a larger population size of 62,000.
Residents in West Chester have a high median household income of $83,904, which is higher than the U.S average of $53,000. They have an unemployment rate of 4.1%, and the job market should grow 31% over the next 10 years, based on economists’ predictions.
Right now, the real estate market in West Chester is heating up. The median home value is $241,900. West Chester home values have gone up 5.3% over the past year and Zillow predicts they will rise 2.4% within the next year.
The median price of homes currently listed in West Chester is $287,700, while the median price of homes that sold is $242,400. For residents who are not quite ready to commit to buying a house, West Chester has fairly low rent prices that sit at $1,700 a month.
Hudson
Hudson is a small suburb in Summit County with a population of 22,400. Here they place particular emphasis on education, which is why they have high scores on GreatSchools. More than two thirds of residents older than 25 in Hudson have at least a bachelor's degree.
Residents in Hudson enjoy a hefty median household income of $128,324, which is more than double the national average. This number is going to continue growing by 1.35% every year, along with the number of employees the city has.
The real estate market is a hot seller's market and has fairly low home values. The median home value in Hudson is $339,400, which is affordable considering the median household income. Hudson home values have gone up 1.7% over the past year and predicted to fall 0.2%. The median price of homes currently listed in Hudson is $416,916 while the median price of homes that sold is $353,700.
Westerville
Westerville is one of the most beautiful cities in Ohio that embraces their historic side. Here, you can find many homes still standing from the 1800s. The population here is around 38,604 and is growing at a rate of 1.35% every year. They have one of the best school systems in the country and hardly see any violent crimes.
Residents in Westerville bring in a median household income of $86,466, which is also growing 1.45% every year. They have a fairly low poverty rate of 6.83%, which is not expected to rise. Westerville is also home to some of the highest paying industries such as educational services, health care, and insurance agencies.
Along with the majority of cities in Ohio, Westerville is currently in a hot seller's market. The median home value in Westerville is $291,500. Home values have gone up 1.3% over the past year and Zillow predicts they will rise 0.6% within the next year. The median price of homes currently listed in Westerville is $349,900 while the median price of homes that sold is $320,600.
Powell
Powell is another suburb that further proves Ohio is a great state to live in. This town sits peacefully in Delaware County with a population of 12,300. Not only do they have a highly rated school system, they have local libraries, parks, and farmers markets for their residents to enjoy.
In Powell, the median household income is $139,851, which is growing at an outstanding rate of 5.22% each year. Not only is this almost triple the national average, but it exceeds the median income of other cities just like it. Poverty is also at a low, sitting at only 1.01%.
Powell's real estate market is heating up and is moving into a seller's market. The median home value in Powell is $366,600. Powell home values have declined 1.5% over the past year and Zillow predicts they will fall 1.0% within the next year. The median price of homes currently listed in Powell is $429,450 while the median price of homes that sold is $365,800.
Final Thoughts
As you can see, there are plenty of affordable cities in Ohio to choose from. Each of the listed cities are thriving and have no expectations to slow down anytime soon. Any one of these cities will prove to be an opportunity to find exceptional housing.
If you're considering purchasing a property in one of these cities, we recommend that you work with a top-rated real estate agent. A Clever Partner Agent can be your greatest resource and will help you navigate the home buying process and uncover additional cost saving opportunities, so you can purchase an affordable home in Ohio.