Despite rising home prices and mortgage rates nationally, Ohio remains a top choice for first-time homebuyers in 2024. The average starter home is priced at $164,570, requiring a modest income of just $39,416 to afford, significantly lower than the national benchmark of $70,164. Cities such as Cleveland, Toledo, and Akron offer valuable opportunities for buyers, while Columbus is notably pricier. Overall, Ohio balances affordability with accessibility, attracting new homeowners, although challenges like limited new construction persist, reflected in its 'C+' grade on housing reports.
Rising home prices and mortgage rates have made ownership tougher nationally, but Ohio still offers a realistic entry point into home ownership, especially for those looking for a starter home.
In 2024, the average price of a starter home in Ohio was $164,570, with an annual income needed of just $39,416, making it one of the most affordable states for buyers.
Ohio's combination of low prices and modest income requirements helps it stand out, although it earned only a 'C+' on the Realtor.com® 2025 housing report card.
Not all parts of Ohio are equally affordable; cities like Cleveland and Toledo represent real value for first-time buyers, while Columbus remains pricier.
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