Ohio is known for having among the least expensive rental markets in the nation. Rent growth in Ohio lagged behind the national rate, which bodes well for renters who are looking for reasonable rental prices outside of the spikes occurring nationally. The rental prices in specific neighborhoods near major metropolitan areas are growing at a fast rate, but overall, rents are nowhere near the sticker shock prices in other high-growth cities around the country.
Ohio ranks as No. 34 in state size, but the number of people in Ohio makes it the seventh most populated state in the country. Cincinnati in Hamilton County is the third largest city in the state, but its rental prices has grown faster than the largest and capital city of Columbus and second largest city of Cleveland. Dublin is a suburb to Columbus and covers a tri-county area-Franklin, Delaware and Union counties-but is known to have the most expensive rentals in the state. Other counties are Lake County, which is just outside of Cleveland and home to small town Wickliffe known for its great quality of life that includes a low crime rate and low unemployment rate. Ohio renters looking for an apartment home are sure to find a place that meets their budget and lifestyle.
Largest employers in Ohio are a mix of retail, healthcare and manufacturing companies. Wal-Mart is the largest employer in the state, employing roughly 46,000 people among its retail operations and five distribution centers. Another national retailer with a large employment presence in Ohio is grocery chain Kroger, which has its headquarters in Cincinnati. Growing healthcare systems like Cleveland Clinic, Mercy Health and University Hospital Health System are also big drivers for jobs. General Electric is the largest manufacturing employer; however, the automotive sector also has a large manufacturing presence. The Honda Motor Company ranks as the second largest manufacturing employer in the state.