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How Is The Dayton Real Estate Market For Investors In 2019?

Dayton Ohio Real Estate Market

Dayton, Ohio is the sixth largest city in Ohio. The city is home to roughly 140,000 people. The metro Dayton Ohio housing market includes around 800,000 people. That makes it the fourth largest in the state and roughly 60th in the United States. To many, it is a small city in flyover country. However, the Dayton Ohio real estate market offers more than meets the eye. The market trends show that the Dayton area has real potential for a single family home or an investment property in the year 2019.

The general picture of this region is on the upswing. Home values are predicted to go up a healthy 1.9% in 2019, making Dayton a positive choice for real estate investing in the next five to ten years. In 2017, three communities in the Dayton-area were named among the top 10 healthiest housing markets in Ohio, including one local market that ranked third nationally. Northridge, Oxford and Beavercreek were considered as some of the best housing markets where homeowners can easily sell their homes with low risk of losing money., according to a study conducted by the finance website SmartAsset.

Dayton Ohio Real Estate Market

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Dayton Ohio Real Estate Market Forecast 2019

Currently on Zillow, the median home value in Dayton is $52,600. Dayton home values have gone up 31.2% over the past year and Zillow predicts they will rise 1.9% within the next year. The median list price per square foot in Dayton is $55, which is lower than the Dayton Metro average of $92. The median price of homes currently listed in Dayton is $69,900. The median rent price in Dayton is $750, which is lower than the Dayton Metro median of $870.

dayton ohio real estate market forecast 2019

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Dayton Ohio Real Estate Market Trend 2018

Dayton Ohio real estate market trends indicate an increase of $7,850 (7%) in median home sales and a 0% rise in median rent per month over the past year. The average price per square foot for this same period rose to $86, up from $81. Trulia has 1,615 resale and new homes in Dayton lined up for you, including open houses, and homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.

Average price per square foot for Dayton was $86, an increase of 6% compared to the same period last year. The median rent per month for apartments in Dayton for Sep 22 to Oct 22 was $850. The median sales price for homes in Dayton for Jul 18 to Oct 17 was $125,000 based on 1,441 home sales.

Dayton Ohio Real Estate Market Trend

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Dayton Housing Market Summary

  • Median Sales Price: $125,000 (On Trulia)
  • Price Per Sqft: $86
  • Median Rent Per Month: $850
  • Median Household Income: $41,047
  • Home Owners: 61%
  • Single Residents: 40%
  • Median Age: 40
  • College Educated: 27%

There are 1,922 homes for sale, ranging from $1 to $3.5M on Dayton have affordable condo/townhomes, and affordable 1 bedroom listings. In November 2018 the housing market in Dayton, OH was a buyer’s market, which means there were roughly more active homes for sale than there were buyers. Buyer’s markets are generally more advantageous for buyers rather than sellers.

Dayton Housing Market Trends

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The median list price of homes in Dayton, OH was $124.9K, trending up 8.7% year-over-year. The median listing price per square foot was $83. The median sale price was $117,000. Homes in Dayton, OH sold for 2.25% below asking price on average in November 2018

On, the median list price in Dayton is $92,900. The median list price in Dayton went up 3% from undefined to January. Dayton’s home resale inventories is 721, which decreased 6 percent since undefined 2019. The median list price per square foot in Dayton is $70. undefined 2019 was $69. Distressed properties such as foreclosures and short sales remained the same as a percentage of the total market in January.

Dayton Ohio Real Estate Market Trend 2018

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According to, single-family detached homes are the single most common housing type in Dayton, accounting for 63.95% of the city’s housing units. Other types of housing that are prevalent in Dayton include large apartment complexes or high rise apartments ( 18.54%), duplexes, homes converted to apartments or other small apartment buildings ( 9.97%), and a few row houses and other attached homes ( 6.32%). Vacant housing appears to be an issue in Dayton which can hold the Dayton real estate prices from rising.

Dayton Ohio Foreclosures And Bank Owned Properties

Foreclosures will be a factor impacting home values in the next several years. In Dayton 2.1 homes are foreclosed (per 10,000). This is the same as the Dayton Metro value of 2.1 and also greater than the national value of 1.2. The percent of delinquent mortgages in Dayton is 1.9%, which is higher than the national value of 1.1%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Dayton homeowners underwater on their mortgage is 27.6%, which is higher than Dayton Metro at 12.2%.

On RealtyTrac, there are currently 1,384 properties in Dayton, OH that are in some stage of foreclosure (default, auction or bank owned) while the number of homes listed for sale on RealtyTrac is 296. In November, the number of properties that received a foreclosure filing in Dayton, OH was 35% lower than the previous month and 29% lower than the same time last year. Home sales for October 2018 were up 0% compared with the previous month, and down 100% compared with a year ago. The median sales price of a non-distressed home was $0. The median sales price of a foreclosure home was $0, or 0% higher than non-distressed home sales.

Dayton Ohio Home Prices And Appreciation Rates

Dayton’s appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Dayton during the period has been just -0.11%, which is lower than 80% of US communities. Appreciation rates are so strong in Dayton that despite a nationwide downturn in the housing market, Dayton real estate has continued to appreciate in value faster than most communities.

Relative to Ohio, Neighborhoodscout’s data shows that Dayton’s latest annual appreciation rate is higher than 90% of the other cities and towns in Ohio. Looking at just the latest twelve months, Dayton appreciation rates continue to be some of the highest in America, at 8.66%, which is higher than appreciation rates in 86.68% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Dayton. Dayton appreciation rates in the latest quarter were at 2.26%, which equates to an annual appreciation rate of 9.35%.

10 Highest Appreciating Dayton Neighborhoods Since 2000: By

  1. W 3rd St / N James H Mcgee Blvd
  2. Salem Ave / W Riverview Ave
  3. W Riverview Ave / N Broadway St
  4. City Center
  5. E Stewart St / Alberta St
  6. Elm Tree Rd / E Social Row Rd
  7. Woodbourne
  8. N James H Mcgee Blvd / Hoover Ave
  9. W Alex Bell Rd / Munger Rd
  10. Nutt Rd / Clyo Rd

10 Reasons Why You Should Buy Investment Properties In Dayton, Ohio

The Dayton Ohio real estate market isn’t particularly large, but a combination of factors makes it a great place for real estate investors. If you’re looking to invest in the housing market, Dayton is a solid choice. selected Dayton as number two on their list of Best Affordable Places to Live in the United States. Let’s look at the top 10 reasons for buying investment real estate in the Dayton market.

1. It Is Incredibly Cheap for Investors

One of the attractions of the Dayton Ohio real estate market is its affordability for investors. Dayton is the sixth largest city in Ohio. It nestles in the Miami Valley, which ranks as the eighth most affordable county in the state. The median home value in Dayton proper is $53,000; the median list price was $55 a square foot in December, 2018. This means you can find two and three bedroom starter homes for less than $60,000 and large four and five bedroom homes for less than $150,000.

In downtown Dayton, about twice as many homes as average are delinquent on their mortgage (1.9% versus 1.1%), and the percentage of homes with negative equity is roughly triple the national average. That suggests you can find many properties for less than these already low prices. If you are shopping for investment properties in the suburban Dayton Ohio housing market, you’ll find higher property values. However, they’re still averaging less than $100 per square foot. That means a starter home of 1000 square feet costs around $100,000 and a spacious luxury home could be found for $300,000.

2. Dayton Enjoys Slow, Steady Growth

Real estate investors don’t want to buy in hot markets; they risk buying at the peak of the market and waiting years for values to return to their former peak if ever. The Dayton Ohio real estate market is an ideal buying opportunity. Home values went up 4.5% in 2016. They grew another 6% in 2017. Home values are predicted to go up a healthy 1.9% next year. There are a few neighborhoods in decline, but according to a StartAsset study, fewer than one in seven homes has seen its value decline – and part of that is insufficient upkeep of a given property.

3. It Has an Ideal Balance of Supply and Demand

According to the Dayton Daily News, in 2017, three communities in the Dayton Ohio real estate market were listed in the top ten housing markets in the state of Ohio. One community in the Dayton Ohio housing market was the third healthiest in the country. They received these rankings because they are seeing slow steady increases in rent and valuation, as new inventory comes into the Dayton Ohio real estate market faster enough to keep it from overheating. Additional factors included how easy it is for residents to sell their homes and overall homeownership costs. This helps explain why the Dayton housing market was classified as neutral by Zillow in December, 2018.

4. Dayton Hosts a Strong Rental Market

The median rent for property in the Dayton Ohio housing market is $750. If someone moves out of Dayton and into the surrounding suburbs, the median rent is still about $900. However, the lower than average household incomes in the area mean that Dayton has a higher than average number of renters who cannot afford these homes. Roughly 38% of Dayton household units are filled by renters, while the average rate is 34.2%.

This is partially due to the fact that the average hourly wage is $2 less than the wage needed to pay fair market rent for a two bedroom apartment in the city. Demand for rentals is therefore strong and steady, especially for the cheapest properties.

5. Millennials Are Buying Here

The affordable housing market is sustained by Millennials buying homes from Baby Boomers. This is keeping demand relatively high and causing homes that come onto the market in good condition to be snapped up. Inventory varies seasonally, but there isn’t a glut of homes that could pull down property values. The slow increase in inventory at the higher end of the market is freeing up properties at the lower end as families sell and move up.

6. The Job Market Will Keep People Here

Dayton’s unemployment rate is comparable to the national average; the metro area’s unemployment rate hovers around 4%. Aerospace and healthcare are two of the biggest employers in the area. Technology employs more people than you’d expect in Dayton, with Oracle actively hiring.

Employment is expected to grow 8.3% by 2020. This is especially good when you learn that Dayton is only now returning to pre-recession peak employment levels, though some other cities in the region haven’t recovered as well as Dayton. Aerospace and health care make up the two largest employers in the area, with construction following a close third. There are a plethora of colleges, universities and technical training centers located in the area.

7. The State of Ohio is Landlord Friendly

Ohio stands out as rather landlord friendly compared to other Midwest states. There are no grace period laws. There is no re-keying law or pet laws. The state doesn’t require you to have a rental license to be a landlord. There isn’t a statutory limit on late fees, but the fees must be reasonable. The state’s laws don’t set a limit on the security deposit amount, but you can only charge for damage beyond standard wear and tear of the property like pet stains on the carpet.

8. Dayton Offers Surprisingly Affordable Property Taxes

Ohio residents pay an average of 1.6% of their home’s value in property taxes each year, though given how cheap the Dayton Ohio real estate market is, that’s not a significant expense. State and local property taxes per capita are roughly $1300 a year, 28th out of the 50 states.

9. Dayton’s Hidden Student Market Is Sizable

When someone talks about going to college in Ohio, the first thoughts for many is Ohio State University. Yet Dayton is home to a number of schools, attracting young people from across the region and keeping many here due to the associated employment opportunities. University of Dayton is home to over ten thousand students. Wright State University’s main campus is even bigger. Vocational and technical schools like Lincoln College of Technology, Sinclair Community College, and Kettering College of Medical Arts host thousands more.

10. It Hosts a Sizable Military Population

One reason why Dayton has more aviation jobs than expected is sheer number of contractors who work for and support Wright-Patterson Air Force Base. Riverside city is home to Wright Patterson Air Force base and the U.S. Air Force Museum. It is part of the Dayton Metropolitan Statistical Area. The Air Force base is just east of the city. There were more than 25,000 military and civilian contractors working there in 2010. The Air Force Material Command is based at Wright-Patterson and handles logistical support and material supply for the Air Force.

This contributes to the large number of permanent renters in the Dayton Ohio real estate market. The 2012 population of Riverside was 25,145. Housing prices range from $75,000 to more than $350,000 with a mix of restored farm homes to ornate brick new construction. The school district is solid, and the middle school, which touches a full 80% of all the children in the district, was ranked as a “National School of Excellence” by the U.S. Department of Education. There are five colleges and universities around this community and three hospitals within five miles.

Dayton Ohio Real Estate Investment: Summary

If you are a beginner in the business of cash flow real estate investing, it very important to read good books on real estate. You must also learn from successful real estate investors who have retired early on in their lives by investing in some of the best real estate markets like Dayton, Ohio. The strong US real estate market shows no signs of slowing, and is slated to remain among the world’s top performers in 2019.  The Dayton Ohio real estate market is one of the best deals in the Midwest. It balances affordable properties with strong future growth, a large rental market and stable property values, low carrying costs and decent ROI.

Single-family real estate in Dayton, Ohio is currently selling for around $86 per square foot (As per Trulia). The average home size is roughly 1,350 square feet.  The median sales price in Dayton has spiked to $125,000 and the median rent for apartments to $850. Downtown Dayton and its suburbs are doing a nice job of incentivizing new business to come into the area. Existing business are also benefiting from positive housing market trends in Dayton. While the overall Dayton housing market is booming, downtown Dayton has struggled with crime from time to time. The good news is that the city has steadily reduced crime.

Which Cities/Markets Are Good For Real Estate Investing In 2019?

Apart from the Dayton market, you can also go for the Little Rock in Arkansas. The Little Rock Arkansas real estate market offers long term value and slow growth, several large permanent populations of renters and excellent financial numbers. You can’t afford to overlook the opportunity the Little Rock housing market offers. We could say that Little Rock is a great place to invest because it is showing up on national publication’s lists of top places to live.

For example, Little Rock hit 8th out of ten top cities in Nerd Wallet’s 177 cities with more than 150,000 residents; that ranking drew on 2016 Census data. Little Rock hit number one on Kiplinger’s “10 Great Places to Live” list and 7th on their “Best Value City” list. A local military base can be a goldmine for real estate investors. Little Rock Air Force Base is located roughly 20 miles northeast of Little Rock. This massive military base is the fourth largest employer in the state, and it brings thousands of renters to the Little Rock housing market. The military base itself employs around 30,000 people.

Another market that we suggest is the Tucson, AZ. The Tucson real estate market has recovered and is poised for slow, steady and certain long term growth. The shifting demographics and known groups eager to sell at the right price provides an excellent opportunity to find bargains almost anywhere in the Tucson real estate market. Tucson consists of 583 neighborhoods.

Gross rent in Tucson hovered around $900 a month in 2017. This is somewhat lower than the median US rental rate and a little cheaper than the Arizona median rate. Many people move to Tucson and then commute to work in surrounding cities.

Tucson’s relatively slow and steady growth rate means that new construction is at a crawl. That is causing rents to rise faster than average, especially at the low end of the market. Another factor propping up home prices is the relatively small inventory on the market; snowbirds typically sell when they need to instead of based on market conditions.

Let us know which real estate markets you consider best for real estate investing! If you need an expert investment advise, you can fill up the form given here. One of our investment specialists will get in touch with you. Norada Real Estate Investments helps take the guesswork out of real estate investing. We can help you succeed by minimizing risk and maximizing profitability of your real estate investments.

*Remember, caveat emptor still applies when buying a property anywhere. The information contained in this article was pulled from third party sites mentioned under references. Although the information is believed to be reliable, Norada Real Estate Investments makes no representations, warranties, or guarantees, either express or implied, as to whether the information presented is accurate, reliable, or current. All information presented should be independently verified.


Healthiest markets

Slow steady growth


Rental rates

A strong rental market

MIllenials buying

Landlord friendly                                                                                    

property taxes

Job market

Student market

Dayton city data,_Ohio

Military base

Market Trends And Forecast                                                                                                                                                    

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