Why is Dayton going up in prices and rents so fast?

Question

Hi BP, I'm in Dayton Ohio (OH) watching houses being sold off the MLS in a big hurry for prices that surprise me. Its a new phenom in mostly C class Dayton proper.. You did not get these kinds of sale prices before. Rents are leaping higher too. This is true at least in my part of town which is shiloh north riverdale riverside drive and north main corridors. And old north dayton, too. Anyhow I am trying to understand why?..  Who are all these buyers? Is it happening all over or just more in my area of town? Thoughts?

Oliver De Ausen · Answer

Some good news for the Dayton economy-- Dayton was ranked #5 on a list from Richard Ellis's list of underdeveloped tech markets. Dayton's tech industry has seen 29% grown in the last 5 years, and wages are up 9 percent.  The Dayton Area Board of Realtors have released the official June numbers. Average housing prices in June were up more than 5% from the same time in 2019. But new listings in June were officially down 7.5%.  Lots of demand!  My 3 bedroom duplex just rented for $800 (nonsection -8 :)

Gordon Starr · Answer

Hi @Cheryl Moore, I use Gudorf Law Group on north main st. They are well versed in both legal and accounting needs of investors. Ted Gudorf and his wife are very well connected. Good luck !

Account Closed · Answer

The bigger pockets effect lol. Everyone wants real estate and Dayton is affordable.

Stock market is way over valued

https://markets.businessinside...

Cheryl Moore · Answer

Thank you Gordon

Cheryl Moore · Answer

Gordon,

I am new at RE investing in Dayton. Do you know a good attorney in Dayton who is versed in RE investing?

Aigo Pyles · Answer

this is due to low interest rate.

Gordon Starr · Answer

I guess it's all those thing. Guess I will absorb the now price and buy my rough building stock n keep rehabbing.

Gordon Starr · Answer

Yes! Investors,downsizes, young couples, diy, expanding locals. Finest homes going even if it's on the fringe. Lol

Remington Lyman · Answer

Low-interest rates, people hedging against inflation (I believe it is coming the way the work governments are printing money), and the Midwest affordability. The same thing is happening in my market (Columbus, Ohio)

Why is Dayton going up in prices and rents so fast?

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