Cincinnati, Columbus, or Cleveland?

Cincinnati, Ohio
Multi-Family and Apartment Investing
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Cincinnati, Columbus, or Cleveland?

Willie Creear III
Investor · Kent, WA · Member since 2020 · 30 posts · 20 votes

What are the best markets in Ohio with comparatively high appreciation YOY? Is there investors in any of these areas that see any of their portfolio any appreciation trends that may surprise those who originally had only cash-flow intentions? 

My Pre-investing Rankings (Personal Market Analysis)

1. Cincinnati

2. Columbus

3. Cleveland

Any honorable mentions markets to consider as well? 


IG @Mattpriestjr 

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Austin McClainBusiness Member
Real Estate Agent · OH · Member since 2021 · 350 posts · 603 votes
3y

Columbus is expected to appreciate. Tech manufacturing plants (like Intel and Amazon) are building multi-billion dollar factories there. 

The land around the city is flat and rural. It's affordable for companies to buy a lot of acres, build a large plant, and still be close to a city with an international airport.

[email protected]614-710-4827
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  • Greg C.
    Member since 2022 · 40 posts · 34 votes
    3y

    Forgive my unusual answer, but I think this idea bears saying since it is not often acknowledged.


    Some of the greatest YOY appreciation to be found in Ohio is not in SFH or MFH, but its land. Farmland to be specific. Even more so than other agrarian states.

    This is because of the high Amish population. Amish families will have between 5-10 kids on average. And most will remain Amish. When the children reach adulthood and get married, they enter into the church and are expected to have a farmstead of their own. This makes ag land a hot commodity in OH, and has gien rise to auctions that see farms and farm homes sell for shockingly high prices. Many Amish also recieve subdivided land from their parent's estate, and these smaller parcels are not enough to support traditional Amish lifestyles. As such, there are hundereds of buyers eager for bigger properties.

    All of this can also lead to big windfalls for commercial developers. Since many Amish men do not have enough farmland to make a living, they will instead work in light manufacturing or commercial ag. Amish *generally* do not unionize and they are a great pool of labor for businesses. This is why you will often see large and successful manufacturing plants out in the middle of nowhere in places like Ohio and Indiana. 

    Depending on how liberal the Amish community is, many Amish are also interested in investing in single family homes and multi-family homes. Hence, there is an unexpectedly competitive market emerging in smaller ohio cities.

    3Reply
  • Austin McClainBusiness Member
    Real Estate Agent · OH · Member since 2021 · 350 posts · 603 votes
    3y

    Columbus is expected to appreciate. Tech manufacturing plants (like Intel and Amazon) are building multi-billion dollar factories there. 

    The land around the city is flat and rural. It's affordable for companies to buy a lot of acres, build a large plant, and still be close to a city with an international airport.

    [email protected]614-710-4827
    4Reply
  • Sam McCormackBusiness Member
    Real Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 834 votes
    3y
    Quote from @Willie Creear III:

    What are the best markets in Ohio with comparatively high appreciation YOY? Is there investors in any of these areas that see any of their portfolio any appreciation trends that may surprise those who originally had only cash-flow intentions? 

    My Pre-investing Rankings (Personal Market Analysis)

    1. Cincinnati

    2. Columbus

    3. Cleveland

    Any honorable mentions markets to consider as well? 


    IG @Mattpriestjr 


     Columbus is doing well from what I hear and see, and it makes sense with the population/job growth. It is likely more expensive than the other 2, especially Cleveland. Cincinnati is a great city to invest in, I have quite a few people looking here right now and a few under contract. Things go fast you, just have to be faster. Another market I think you will like is Northern Ky. It is growing like Columbus is but right across the bridge from Cincinnati. I shot you a message!

    [email protected]859-443-4952
    Sam McCormack Realtor
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  • Brandon GoldsmithBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2020 · 1k+ posts · 1k+ votes
    3y

    Columbus and Cincinnati have positive growth, Columbus more so due to the number of companies starting headquarters or manufacturing/distribution centers. Cleveland isn't experiencing the same growth but the cashflow will be better. @Willie Creear III

    [email protected]614-963-3340
    4Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    3y
    Quote from @Willie Creear III:

    What are the best markets in Ohio with comparatively high appreciation YOY? Is there investors in any of these areas that see any of their portfolio any appreciation trends that may surprise those who originally had only cash-flow intentions? 

    My Pre-investing Rankings (Personal Market Analysis)

    1. Cincinnati

    2. Columbus

    3. Cleveland

    Any honorable mentions markets to consider as well? 


    IG @Mattpriestjr 


     I am surprised you found Cincy appreciated more than Columbus. Where did you pull your information?

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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  • Robert EllisBusiness Member
    Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
    3y
    Quote from @Willie Creear III:

    What are the best markets in Ohio with comparatively high appreciation YOY? Is there investors in any of these areas that see any of their portfolio any appreciation trends that may surprise those who originally had only cash-flow intentions? 

    My Pre-investing Rankings (Personal Market Analysis)

    1. Cincinnati

    2. Columbus

    3. Cleveland

    Any honorable mentions markets to consider as well? 


    IG @Mattpriestjr 


    Absolutely! Columbus is a fantastic choice. Its steady growth and diverse economy make it a prime market for real estate investors. You're on the right track!

    [email protected]786-494-6766
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  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    3y
    Quote from @Willie Creear III:

    What are the best markets in Ohio with comparatively high appreciation YOY? Is there investors in any of these areas that see any of their portfolio any appreciation trends that may surprise those who originally had only cash-flow intentions? 

    My Pre-investing Rankings (Personal Market Analysis)

    1. Cincinnati

    2. Columbus

    3. Cleveland

    Any honorable mentions markets to consider as well? 


    IG @Mattpriestjr 

    Hi Willie, I personally love Columbus Ohio and as someone who works with a lot of out of state investors - there's so many catalysts for why you should invest here. Specifically, there's job growth (Intel, Honda, Amazon, Nationwide, etc) and the population is growing (unlike Cleveland or Cincy). I really see Columbus Ohio as an extremely safe bet for the next 10-20 years. Plus, there's still so many positive cash flowing and 1% deals here in Columbus Ohio. As a local investor and agent here in Columbus, let me know if you have any questions or want to connect!
    [email protected]614-300-7535
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  • Willie Creear III
    OP
    Investor · Kent, WA · Member since 2020 · 30 posts · 20 votes
    3y
    Quote from @Jimmy Lieu:
    Quote from @Willie Creear III:

    What are the best markets in Ohio with comparatively high appreciation YOY? Is there investors in any of these areas that see any of their portfolio any appreciation trends that may surprise those who originally had only cash-flow intentions? 

    My Pre-investing Rankings (Personal Market Analysis)

    1. Cincinnati

    2. Columbus

    3. Cleveland

    Any honorable mentions markets to consider as well? 


    IG @Mattpriestjr 

    Hi Willie, I personally love Columbus Ohio and as someone who works with a lot of out of state investors - there's so many catalysts for why you should invest here. Specifically, there's job growth (Intel, Honda, Amazon, Nationwide, etc) and the population is growing (unlike Cleveland or Cincy). I really see Columbus Ohio as an extremely safe bet for the next 10-20 years. Plus, there's still so many positive cash flowing and 1% deals here in Columbus Ohio. As a local investor and agent here in Columbus, let me know if you have any questions or want to connect!

     This is a great assurance and also the fact that there are 1% deals being produced. 

    0Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    3y
    Quote from @Willie Creear III:

    What are the best markets in Ohio with comparatively high appreciation YOY? Is there investors in any of these areas that see any of their portfolio any appreciation trends that may surprise those who originally had only cash-flow intentions? 

    My Pre-investing Rankings (Personal Market Analysis)

    1. Cincinnati

    2. Columbus

    3. Cleveland

    Any honorable mentions markets to consider as well? 


    IG @Mattpriestjr 


     Long term, you'll see more appreciation in Columbus than the other two.

    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    3y
    Quote from @Account Closed:
    Quote from @James Wise:
    Quote from @Willie Creear III:

    What are the best markets in Ohio with comparatively high appreciation YOY? Is there investors in any of these areas that see any of their portfolio any appreciation trends that may surprise those who originally had only cash-flow intentions? 

    My Pre-investing Rankings (Personal Market Analysis)

    1. Cincinnati

    2. Columbus

    3. Cleveland

    Any honorable mentions markets to consider as well? 


    IG @Mattpriestjr 


     Long term, you'll see more appreciation in Columbus than the other two.

    Why are Akron and Dayton not mentioned? Are they just off everybody's radar or is there something to avoid?

     We've been doing a lot of business in Akron over last year or two. Solid market for cash flow. Having said that, I don't predict as much appreciation over that way as I would anticipate seeing in say Columbus.

    0Reply
  • Steven Foster Wilson
    Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
    3y
    Quote from @Willie Creear III:

    What are the best markets in Ohio with comparatively high appreciation YOY? Is there investors in any of these areas that see any of their portfolio any appreciation trends that may surprise those who originally had only cash-flow intentions? 

    My Pre-investing Rankings (Personal Market Analysis)

    1. Cincinnati

    2. Columbus

    3. Cleveland

    Any honorable mentions markets to consider as well? 


    IG @Mattpriestjr 


    I recommend the major cities in Ohio:

    -Columbus, great for appreciation, pp is a bit higher around $220k for multifamily

    -Cincinnati, has a mix of cash flow and appreciation, average multifamily around $180k. 

    -Cleveland, has alot of cashflow potential, average multi family around $140k. 

    - There are other smaller markets like Dayton, Akron, and and Newark, which we are starting to see these areas boom due to huge investors and corporations like Intel choosing to set up shop in these kind of areas.

    Watch the video series comparing the differant cities of ohio at ohiorem.com

    1Reply
  • Evan HoppleBusiness Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2023 · 285 posts · 420 votes
    3y

    @Willie Creear III

    C locations in Columbus make the most sense to me. Expected appreciation is high and the rent to price ratios still make sense

    [email protected]614-924-8151
    Reafco Real Estate
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    • Account Closed
      New to Real Estate · Member since 2022 · 12 posts · 1 vote
      1mo

      what do you consider the C neighborhoods in Columbus to be?

      0Reply
  • Evan Polaski
    Cincinnati, OH · Member since 2020 · 4k+ posts · 3k+ votes
    2y

    @Willie Creear III, I will chime in as seemingly the only Cincinnati person here.  

    This is honestly an overly broad question.  There are pockets of Columbus that will certainly appreciate and some that may deteriorate.  Same with Cleveland and Cincinnati.  When looking at LARGE institutional sized assets, Columbus likely makes more sense due to being a market with the strongest growth of the three.  But to say people aren't making great money in Cincinnati or Cleveland is just naive.  

    And if you pick up the wrong property in Columbus, you very well could lose money too.  

    So, given there is really no better or worse answer here: which market is easier for you to get to.  Do you have trusted contacts in one of the three?  Family?  Maybe you are a huge Bengals fan, so you can catch a game while you are checking on your Cincinnati properties? Is one cheaper to get to?  Remember as an OOS investor, assuming you want to make sure your investment is being maintained, you should be factoring in your travel cost to your overall investment.  Maybe it is only twice per year, but it can add up.

    0Reply
  • Sam McCormackBusiness Member
    Real Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 834 votes
    2y
    Quote from @Evan Polaski:

    @Willie Creear III, I will chime in as seemingly the only Cincinnati person here.  

    This is honestly an overly broad question.  There are pockets of Columbus that will certainly appreciate and some that may deteriorate.  Same with Cleveland and Cincinnati.  When looking at LARGE institutional sized assets, Columbus likely makes more sense due to being a market with the strongest growth of the three.  But to say people aren't making great money in Cincinnati or Cleveland is just naive.  

    And if you pick up the wrong property in Columbus, you very well could lose money too.  

    So, given there is really no better or worse answer here: which market is easier for you to get to.  Do you have trusted contacts in one of the three?  Family?  Maybe you are a huge Bengals fan, so you can catch a game while you are checking on your Cincinnati properties? Is one cheaper to get to?  Remember as an OOS investor, assuming you want to make sure your investment is being maintained, you should be factoring in your travel cost to your overall investment.  Maybe it is only twice per year, but it can add up.


     Don't forget about me man! 2 man army

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  • Steven Foster Wilson
    Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
    2y
    Quote from @Account Closed:
    Quote from @Steven Foster Wilson:
    Quote from @Willie Creear III:

    What are the best markets in Ohio with comparatively high appreciation YOY? Is there investors in any of these areas that see any of their portfolio any appreciation trends that may surprise those who originally had only cash-flow intentions? 

    My Pre-investing Rankings (Personal Market Analysis)

    1. Cincinnati

    2. Columbus

    3. Cleveland

    Any honorable mentions markets to consider as well? 


    IG @Mattpriestjr 


    I recommend the major cities in Ohio:

    -Columbus, great for appreciation, pp is a bit higher around $220k for multifamily

    -Cincinnati, has a mix of cash flow and appreciation, average multifamily around $180k. 

    -Cleveland, has alot of cashflow potential, average multi family around $140k. 

    - There are other smaller markets like Dayton, Akron, and and Newark, which we are starting to see these areas boom due to huge investors and corporations like Intel choosing to set up shop in these kind of areas.

    Watch the video series comparing the differant cities of ohio at ohiorem.com

    @Steven Foster Wilson: I'm not an "appreciation" kind of guy. I'm into cash flow. I buy "off market" using creative finance and turn them into lease options. They have to be in family friendly neighborhoods and cash flow, that's about it. Since Dayton and Akron are overlooked, I'm just curious if getting out of the big cities into medium would work and have less competition.

     Yes and no, there areless investors to compete with, but also less inventory. However, its a good strategy, especially when we see big investors and developers like Crawford Hoying going over to Dayton and building 600+ units.

    0Reply
  • Arman AhmedPro Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 971 votes
    1mo
    Quote from @Willie Creear III:

    What are the best markets in Ohio with comparatively high appreciation YOY? Is there investors in any of these areas that see any of their portfolio any appreciation trends that may surprise those who originally had only cash-flow intentions? 

    My Pre-investing Rankings (Personal Market Analysis)

    1. Cincinnati

    2. Columbus

    3. Cleveland

    Any honorable mentions markets to consider as well? 


    IG @Mattpriestjr 

    I’d keep Cincinnati and Columbus near the top, but I wouldn’t overlook Cleveland or some of the smaller Ohio markets. The big thing I’ve noticed is that appreciation can vary dramatically block by block, so I’d rather buy the right property in the right pocket than chase citywide numbers. There are still some overlooked Ohio markets where you can get both cash flow and solid upside.

    [email protected]614-418-6081
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  • Anthony L Amos Jr
    Real Estate Agent · Columbus | Toledo · Member since 2019 · 608 posts · 768 votes
    1mo
    Quote from @Willie Creear III:

    What are the best markets in Ohio with comparatively high appreciation YOY? Is there investors in any of these areas that see any of their portfolio any appreciation trends that may surprise those who originally had only cash-flow intentions? 

    My Pre-investing Rankings (Personal Market Analysis)

    1. Cincinnati

    2. Columbus

    3. Cleveland

    Any honorable mentions markets to consider as well? 


    IG @Mattpriestjr 

    Over half of Ohio's total population growth is landing right here in the Columbus metro. Between massive tech investments like Intel coming online and our job growth hitting record highs, housing demand is going to stay relentless for years.

    When you have that level of steady population growth backed by solid high wage jobs, equity builds up fast over the long haul 


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