Traditional RentalsOhio Real Estate Market: 6 Cities to Invest in Multi Family Homes by Hamza Abdul-Samad October 25, 2018February 19, 2019 by Hamza Abdul-Samad October 25, 2018February 19, 2019It’s been quite a year for Midwest real estate markets. Cities such as Kansas City, MO, Indianapolis, IN, and Chicago, IL have had lucrative success with return on investment and property prices during 2018. These Midwestern cities are some of the best places with multi-family homes for sale in the country. Today, we’ll be talking about some of the other top cities for multi-family real estate investing, all of which are part of the Ohio real estate market.Multi-Family Real Estate Investing: In a NutshellBefore we list the top cities for multi-family investing in Ohio real estate, let’s review what multi-family properties are. Multi-family investment properties are properties with multiple units. These include anything ranging from two-unit properties, known as duplexes, to apartment complexes with dozens of units. The main benefit of purchasing multi-family homes for sale is a steady stream of rental income and return on investment. Unlike single-family properties, multi-family properties can be rented out to multiple tenants and thus, can generate more rental income and higher occupancy rates.Related: Understanding Multi-Family Investment Property Returns and BenefitsMany of the best places for investment property for traditional investing are excellent for multi-family real estate investing. In the Ohio real estate market 2018, these cities include Ashland, Baltimore, Cincinnati, Cleveland, Columbus, and Madison.AshlandMedian Property Price: $88,750Price Per Square Foot: $58.07Rental Income: $1,225Cap Rate / Cash on Cash Return: 6.61%The most notable benefits of investing in the Ohio housing market are cheap multi-family homes for sale with high return on investment. When it comes to these standards, Ashland, or “The World Headquarters of Nice People” as it is known, is the perfect archetype city for Ohio real estate. According to Mashvisor’s investment property calculator (which you can learn more about by clicking here!), Ashland’s median property price is $88,750 and its return on investment is 6.61%, both being the best in the Ohio housing market for multi-family properties.BaltimoreMedian Property Price: $124,550Price Per Square Foot: $71.38Rental Income: $1,173Cap Rate / Cash on Cash Return: 3.98%Like Ashland, and all the other entries on this list, Baltimore is one of the most affordable locations to invest in Ohio real estate. While its median multi-family property price is not as low as Ashland’s, it certainly is very inexpensive, especially compared to the national median property price of over $320,000. Baltimore is also a very profitable city. The average return on investment of a multi-family property is 3.98%, and the second highest on this list. Baltimore may be a small town, but it definitely deserves being on the big list of the best places to invest in the Ohio real estate market for multi-family properties.Cincinnati Median Property Price: $176,700Price Per Square Foot: $71.59Rental Income: $1,176Cap Rate / Cash on Cash Return: 3.18%Cincinnati is also one of the best places for investment property in the Ohio real estate market 2018. It has cheap multi-family homes for sale and high ROI and rental income averages. However, the edge Cincinnati real estate has over the previous two cities is that it is much larger. Cincinnati is the third largest community in Ohio. It is also one of the best economies in the state and in the Midwest. Currently, Cincinnati’s economy is the fastest-growing in the Midwest, with an unemployment rate below the state average. The city is also home to many Fortune 500 companies, bolstering the already strong economy. These reasons make Cincinnati real estate a top destination for multi-family investing, and traditional investing overall, in the Ohio real estate market.Related: Location, Location, Location: What Makes for the Best Location to Invest in Real Estate?ClevelandMedian Property Price: $114,218Price Per Square Foot: $56.42Rental Income: $828Cap Rate / Cash on Cash Return: 1.75%Home to the second largest community in Ohio, Cleveland is one of the top markets for multi-family properties in the Ohio real estate market. The average Cleveland investment property is an affordable and profitable one, but there’s more to investing in the city. Cleveland real estate is ripe with multi-family investing opportunities, mainly due to its large population and diversified economy, with many sectors including healthcare, financial services, and manufacturing. Also, approximately 60% of people living in the city are renters, which further incentivizes multi-family investing in Cleveland real estate.ColumbusMedian Property Price: $176,216Price Per Square Foot: $78.83Rental Income: $1,084Cap Rate / Cash on Cash Return: 2.58%Sticking with large populations, we arrive at the most populous city in Ohio: Columbus. Already one of the fastest growing cities in the US, the city’s metro area further increases this large population to over 2 million. Much like the Cleveland real estate market, over half of the city’s residents are renters. Many of those in the tenant pool are college students, as Ohio State University (the third largest university campus in the US) is located in the city. The Columbus real estate market is also home to a strong and diversified economy, with multiple successful sectors ranging from insurance, education, banking, healthcare, food, energy, and much more. The mix of these factors contributes to the success of a Columbus real estate investment.Related: College Towns: The Best Places to Buy a Rental Property MadisonMedian Property Price: $157,500Price Per Square Foot: $57.87Rental Income: $1,367Cap Rate / Cash on Cash Return: 2.98%We come full circle to a small, but immensely affordable and lucrative area for Ohio real estate, with Madison. Madison has the highest average rental income for multi-family homes in Ohio, which earns it a spot on this list. If you want to invest in Ohio real estate in a family-friendly and quiet area, be sure to consider Madison.The Ohio real estate market is home to some of the best cities for multi-family real estate investing in the Midwest real estate market and overall national market. With affordable property prices and money-making return on investment, these are some markets many real estate investors should consider. To start searching for cheap multi-family homes for sale in any of these areas, click here to start a 14-day free trial with Mashvisor! Start Your Investment Property Search! START FREE TRIAL Ashland OHBaltimore OHCincinnati OHCleveland OHMulti FamilyOhio 0FacebookTwitterGoogle +PinterestLinkedin Hamza Abdul-SamadHamza is a long-time writer at Mashvisor. With a focus on real estate investing tips, concepts, and top investing locations, he aims to help all aspiring investors who come across his blogs to hit the bank with their investment property. Previous Post Buying a Rental Property? Invest in the Best Cities to Live In Next Post 6 Top Real Estate Marketing Strategies for Agents Related Posts Invest in These Cities for High Cash on Cash Return with Long Term Rentals The Best Cities to Invest in Rental Properties 2018 How to Find Investment Property in the Los Angeles Real Estate Market 2018 Is 2018 the Right Time to Invest in Multi-Family Homes in Florida? 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