Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago on . Most recent reply

User Stats

10
Posts
6
Votes
Aaron Bashore
6
Votes |
10
Posts

Single family rental in an area with high home ownership

Aaron Bashore
Posted

I am looking at a 3/1 in South Lebanon Ohio for $150k. It is a small town in a rapidly increasing property value area. 

My concern is that the are has an 81% home ownership and $78k annual average income. Will anyone rent and stay in an area with high home ownership?

i have rental houses in Memphis, TN, Dayton, OH and Toledo, Oh where the population is on the decline but there is a home ownership rate of 50% (national average is 63%). 

The reason I am looking in this area is because it has great schools and a rising population. I am nervous being so invested in the other three cities with shrinking populations. The cash flow in this area is less but I am expecting appreciation where I don’t see any appreciation in the other areas.

Opinions?

Most Popular Reply

User Stats

135
Posts
61
Votes
Priya Thomas
  • Investor
  • Cincinnati, OH
61
Votes |
135
Posts
Priya Thomas
  • Investor
  • Cincinnati, OH
Replied

W invest heavily in Cincinnati OH, mainly in Hamilton county. We typically buy in the range of 100-120k and rent it out $1200-$1400., I have lived over at Morrow, not very far away from S Lebanon. Like someone said above, if it is in Kings school district, there is upside to it but otherwise I wouldn't want to invest at Lebanon. Ohio is a good place to invest but you should work with someone who knows local market very well, as it can vary from street to street.

  • Priya Thomas
  • Loading replies...