“The Dayton metro had a higher rate of job growth in the past year than the other major Ohio metro areas…”-Dayton Daily News, April 2018
Job growth, real estate price increases, new businesses … it all leads to a healthy, booming economy and that is just what we’re seeing in Dayton, Ohio. The Gem City was a hub for manufacturing jobs prior to the 2008 recession. However, since then, Dayton area leaders have re-focused on diversifying the metro area in terms of new businesses coming in and the economy as a whole.
Here are just a few highlights that make Dayton a great place for turnkey real estate investors:
- The Fire Blocks District is a major project in the work to make even more of a downtown Dayton a place residents want to work, live and play. Historical buildings, such as the Elk and Huff buildings are being turned into apartments and condos with first floor retail and restaurants. Check out the super awesome video highlighting the project.
- Seventy-million dollar renovations are planned for the historic Arcade building in downtown Dayton. The plans include space for retail, housing and office space. Portions opened in 2019.
- The Dayton metro area was named a top 10 metro area for 12 years consecutively by Site Selection Magazine.
- Dayton’s Levitt Pavilion, which opened in the summer of 2018, holds up to 5,000 people and plans to offer 50 free concerts in 2019.
- Median home prices increased 8% from 2017 to 2018.
Overall, 2018 set new records in the Dayton area’s housing market. The report noted that all four “key areas” saw increased numbers, with average prices, median prices, amount of homes sold, and sales volume all increasing over 2017’s record numbers. Over 16,260 homes were sold in the Dayton region in 2018, compared to 16,149 in 2017.-Dayton Business Journal, January 2019
- In 2018, Ohio set a new record for new business filings. As a whole, Ohio, including the Dayton market, are attractive for new businesses with lower than average cost of living expenses.
- Rent increases are higher than most other metro areas in the country. In 2018, Dayton’s average monthly rent increase was 3.38%. Dayton ranked fourth overall in the U.S. beating out other major metro areas like Los Angeles and Atlanta. Why? There is a demand for housing and the economy is growing.
For a long time, Dayton flew under the radar. Now, it’s a destination city for new college graduates, seasoned professionals, and families. With new businesses flocking to the area, the demand for housing and rentals is getting higher by the month. The opportunities for real estate investors, specifically those interested in turnkey real estate or rental properties, are huge! There doesn’t seem to be a slow in this trend as Dayton has made its mark as an attractive mid-western city for many.
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Contents of this message/blog post are of general nature only and should not be relied upon solely when making an investment decision. We are not attorneys or financial advisors and any advice or answers to questions in these communications to you is hypothetical only. If you need legal or financial advice, please consult an attorney or financial advisor of your choice.