Recent Trends show that Monthly Rent in Ohio Increased by up to 13.28 Percent
By: Tara Giltner Mar. 30, 2018
The state of Ohio saw average rents increase from $670 per month to $759 per month between the years 2009 and 2016, according to a Gavop analysis using U.S. Census Bureau data. Counties with the steepest changes in rent had levels of increase from 29.37 to 37.34 percent.
Ohio counties with the highest rents in 2016 were located around Cincinnati and Cleveland. Warren County, just northeast of Cincinnati, reported the highest average rents of $974 per month. Counties that followed were Delaware County, at $951 per month, and Franklin County, home to Columbus, at $896 per month.
Real Estate database firm Zillow declared Columbus the hottest apartment market in the nation in 2016. “While Columbus may not be on everyone’s go-to list of hot markets, this college town is clearly undergoing an apartment building boom, and new units are going quickly,” said Svenja Gudell, Zillow’s chief economist.
In contrast with the rising rents, the county with the lowest average monthly rent was Scioto County at $578 a month. Following Scioto County was Columbiana at $622 a month followed by Mahoning County at $632 then Belmont County $634, and Trumbull County at $647.
In addition to counties with the lowest rents, Jefferson County saw the highest increase in rents between 2009 and 2016. The county saw a 32.65 percent increase during the seven-year span, rising from $490 to $650 per month. Belmont County was second to Jefferson County, which saw a rate increase of 28.34 percent. The 2009 average monthly rental rate in the county was $494 which increased to $634 in 2016. Tuscarawas County reported the third largest percentage increase in rents between 2009 and 2016, with a 25.78 percent rise.
ABOUT THE AUTHOR
Tara Giltner
Tara Giltner is a freelance writer, editor and creative professional, specializing in real estate, government and community relations. She has worked in the corporate, family-owned and startup worlds, writing and managing the production of national brand rollouts, international marketing collateral and state government assignments. Clients have hired her to draft business plans and write grant applications; define marketing strategies and create communications plans; write and build websites, blogs, newsletters and marketing collateral; and help sell skyscraper investments.
