So you're finally ready to settle down and live out your white-picket-fence dreams. 💭🏡 Did you know Ohio has some of the friendliest cities for first-time homebuyers?
The latest stats show cities with prices WAY below the national average. 🆒📉 Cost of living ain't too shabby, either. Keep reading to see what all the hype's about! 👀
Here’s Five Fast Facts on first-time home buying in Ohio:
- 🏘️ List-worthy Listings - Out of 100 of the largest US metro areas, three Ohio cities have the most affordable homes for middle-income families: Akron, Toledo, and Youngstown.
- 🤑 Bang for Your Buck - If you're looking at Youngstown, you'll be able to afford 72% of the listings if you earn at least $75,000 a year. In Akron and Toledo, you can afford 62% of homes listed there.
- 🕺 How Low Can You Go? - In each of the three cities mentioned, the median home price is over $300,000 less than the national average, which is $445,000. In Akron, the median home price is $125,000. In Toledo, it's $120,000 and in Youngstown it's $119,900.
- 💰 Stretch That Down Payment - The state of Ohio has high levels of affordable homes for sale, a thriving job market, and a relatively low cost of living (8.1% below the national average). In fact, This Old House ranks many of Ohio's cities top of the list for new home buyers looking for their perfect starter home. Bob Vila approved!
- 👋 Head For the Hills - The catch? Experts believe that Ohio's housing market is favoring sellers right now, meaning it might be harder to haggle down prices. According to the latest US Census data, Ohio was among the top 3 states with the most residents moving out of state. Almost 20,000 households headed elsewhere.
🔥Bottom line: In addition to affordable homes, Ohio's got jobs. Companies are jumping in left and right to set up shop in Ohio. Wells Fargo just announced a new tech hub and the state even won an award for all the new jobs coming in. Not a bad time to call Ohio home, even if some people are moving out. Oh, if you want to avoid first-time home buyer's remorse, check out this article.
Planning to buy your first home in the Buckeye State?
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