The Hottest Real Estate Markets in Ohio
February 6, 2024 |
Ohio, commonly known as the Buckeye State, is located at the crossroads of the United States. Its excellent connections by land and air to the rest of the country make it one of the most accessible regions in the nation. In addition to its central location, Ohio’s beautiful farmland, wild rollercoasters, and collegiate and professional sports teams make the Ohio real estate market one of the hottest in the nation.
Key Takeaways About the Ohio Real Estate Market
- Several key industry insiders named Ohio cities hot real estate markets for 2024.
- Toledo, Cincinnati, Columbus, and Cleveland have been named promising real estate markets for the upcoming year.
- Experts say Ohio markets are gaining popularity because of affordable prices and family-friendly amenities.
4 Best Cities in Ohio for Real Estate Agents
Ohio has a stable economy and relatively low cost of living, meaning homes don’t last very long on the market. Ohioans, however, aren’t the only ones looking for homes in Ohio. According to an analysis by REALTOR®, the zip code for Gahanna, OH, a Columbus suburb, was at the top of the list as the country’s hottest real estate zip code. Gahanna homes for sale last an average of 13 days on the market, with a median listing price of $351,000.
Whether you’re an experienced professional or considering starting your career as a real estate agent, capitalizing on Ohio’s hottest housing markets will advance your career. Here are four of Ohio’s hottest housing markets that are receiving national attention.
1. Toledo, Ohio
Toledo is expected to break double-digit sales growth in 2024, according to REALTOR®. The organization ranked the largest 100 metros by their expected sale and price growth rates, and Toledo landed at the top of the list.
The city’s median home listing price was 51.6% lower than the national median home price. This affordability draws in first-time buyers looking for affordable housing options. Toledo is also known for welcoming communities with recreational activities, such as the Toledo Zoo and the scenic Maumee River.
Toledo should be near the top of your list if you are looking for the best cities in Ohio for real estate. Here are some additional options.
2. Cincinnati, Ohio
Zillow recently published its predictions of the hottest housing markets in 2024. While Buffalo made the top of the list, Cincinnati came in second (and two other Ohio cities also made the ranking).
According to Zillow’s analysis, Cincinnati’s second-place rank can be directly linked to its high market velocity. Homes in Cincinnati went from “for sale” to “pending” in an average of just five or six days.
But why are homebuyers flocking to Cincinnati? It could be affordability since the city’s cost of living is 14% lower than the national average. Or the hot housing market could be due to Cincinnati’s healthy job market, with significant growth in healthcare, technology, advanced manufacturing, and logistics. Regardless of the reason, Cincinnati’s hot housing market will surely attract want-to-be real estate agents looking to get a start in the industry.
3. Columbus, Ohio
The Columbus, Ohio, real estate market continues to be popular with both real estate agents and investors. The capital city was recently named third on Zillow’s hottest market list for several good reasons. Columbus’ affordability, job market, and increasing population make it appealing to prospective buyers.
Not only is Columbus home to many Fortune 500 companies like Cardinal Health, Nationwide Insurance, and American Electric Power, but it is also home to The Ohio State University. Founded in 1870, Ohio State is one of the largest universities in the U.S., with over 65,000 students enrolled at the Columbus campus.
Young professionals and recent graduates are a key demographic for real estate sales. The city’s diverse population allows for a wealth of opportunity in short- and long-term properties.
4. Cleveland, Ohio
Cleveland landed eighth on Zillow’s list of the hottest housing markets in 2024. Like the other two Ohio cities on the list, Cleveland ranked in the top 10 because of a solid job market and affordability. (The projected home value in Cleveland for 2024 is $215,597, compared with the U.S. average of $347,415.)
With access to professional and college sports, a thriving restaurant scene, and The Rock and Roll Hall of Fame, what’s not to love about Cleveland?
How to Become a Real Estate Agent in the Hottest Real Estate Markets in Ohio
If you have been contemplating a real estate career in Ohio, now is the time to act. Did you know you could get your real estate license by taking courses online? Connect with Hondros College to learn more about the real estate licensing process, including how much you could make as a real estate agent in Ohio.
Hondros College has licensed more real estate agents than any other school. We offer online, in-person, or livestream real estate pre-licensing courses in Ohio – and allow our students to swap at any time.
Don’t miss out on Ohio’s hot real estate market. Begin the licensing process today.
- Berns, Adam. “15 Things to Know before Moving to Cincinnati, OH.” Home & Money, May 19, 2023. https://homeandmoney.com/blog/moving-to-cincinnati-oh/.
- Jones, Hannah, Danielle Hale. “The Hottest ZIP Codes of 2023.” Realtor.com Economic Research, August 29, 2023. https://www.realtor.com/research/hottest-zip-codes-2023/.
- Prakash, Anushna. “Why Buffalo Will Be 2024’s Hottest Market.” Zillow, January 10, 2024. https://www.zillow.com/research/2024-hottest-market-33566/.
- Rice, Theodore, “What Are the Most in Demand Jobs in Cincinnati Oh?” Employment Security Commission, October 3, 2023. What are the most in demand jobs in Cincinnati OH? – Employment Security Commission (ncesc.com)
- Speianu, Sabrina. Danielle Hale. “Top Housing Markets for 2024.” Realtor.com Economic Research, December 4, 2023. https://www.realtor.com/research/top-housing-markets-2024/.