Is Dayton Ohio A Good Place To Buy Real Estate?

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Looking to invest in real estate? Dayton, Ohio could be the perfect place for you. Located in southwestern Ohio, Dayton is an area rich in history, culture, and community. The city boasts a diverse economy with a thriving job market thanks to the nearby Wright-Patterson Air Force Base and its aerospace engineering industry. Dayton also has a reputation for offering affordable housing options, making it an attractive destination for first-time homebuyers and real estate investors alike. In this article, we’ll explore why Dayton’s real estate market is an excellent investment opportunity and uncover why buying a property in Dayton is a wise financial decision.

Overview of Dayton, Ohio

Dayton, Ohio is the sixth-largest city in the state, situated in the southwest region of Ohio, in the United States of America. It is known for its economy, military facilities, and the Wright brothers, who started their aircraft-testing activities here. The city offers a mix of historic neighborhoods and modern development along with a close-knit community. Furthermore, Dayton attracts affordable housing and excellent employment opportunities, making it an ideal location to invest in real estate.

Reasons to Buy Real Estate in Dayton, Ohio

Are you on the hunt for an affordable real estate market that can offer cash flow from single-family rentals? Look no further than Dayton, Ohio. The city’s real estate market favors buyers, with affordable prices that make it an attractive option for those seeking investment property.

But Dayton’s appeal doesn’t stop there. The city boasts a dynamic economy driven by diverse industries, including aerospace engineering and healthcare. Plus, with its proximity to Cincinnati, Dayton benefits from the larger metropolitan area’s economic opportunities.

Dayton also has a rich history of inventions and patents, making it a hub for innovation and creativity. And with high demand for homes and a strong rental market, there are plenty of opportunities to acquire properties in different neighborhoods and property classes to suit your investment goals.

Dayton was ranked as the 2nd best investment market in 2019 by a national survey. The Dayton Realtors association anticipates that it will continue to be a good market for investing in real estate in the near future.

Economic Factors to Consider

Before making a decision to buy real estate in Dayton, Ohio, it is important to consider the different economic factors that may affect the value and potential for growth of your investment. These factors include the local job market, housing market trends, demand and supply for homes, population growth and the overall economic climate of the Dayton area.

Wright-Patterson Air Force Base

Dayton, Ohio is home to Wright-Patterson Air Force Base, one of the largest military installations in the United States. The base’s influence on the local real estate market cannot be overstated. The base has a direct impact on the housing market, as it generates a steady demand for homes from military personnel and their families. Additionally, the base’s expansion over the years has contributed to the growth of the housing market in the Dayton area.

The expansion of Wright-Patterson Air Force Base has been a boon to the Dayton, Ohio economy. The base is responsible for generating a significant number of jobs and private investments in the local area. As the base continues to expand, it is expected to create more jobs and generate even more private investments.

Living near Wright-Patterson Air Force Base has many benefits, including proximity to jobs and access to public transportation. The base is located in a convenient location, with easy access to major highways and the Dayton International Airport. Public transportation is easily accessible from the base, making it easy for residents to travel to and from work, school, or other destinations.

In addition to the benefits of living near the base, Wright State University, located just a few miles away, offers world-class aerospace engineering and technology programs. Many of the graduates of these programs go on to work in the aerospace industry and contribute to the growth of the local economy.

Overall, Wright-Patterson Air Force Base has had a significant impact on the Dayton, Ohio real estate market and the local economy as a whole. With its continued expansion, the base will likely continue to generate jobs and private investments, and attract new residents to the area.

Job Market in Dayton, Ohio

Dayton, Ohio is a dynamic city that provides a steady stream of job opportunities for its residents. The unemployment rate is 4.5%, which is below the national average, indicating steady job growth in the area. According to recent statistics, the median household income in Dayton is around $49,000, which is relatively lower than the national average. However, the cost of living is also lower than many other major cities in the United States, making Dayton an affordable option for families who want to enjoy a comfortable lifestyle.

Several target industries drive job growth in Dayton, including aerospace engineering, healthcare, education, and advanced manufacturing. These industries provide significant opportunities for workers to gain valuable skills and training, leading to well-paying jobs in the area. To support the demand for skilled workers, Dayton is home to several notable colleges and universities, like Wright State University. Wright State University is renowned for its engineering and business programs, preparing students to excel in the region’s target industries.

Dayton is also home to many significant employers like Premier Health Partners and the Kettering Health Network, which offer employment opportunities in the healthcare sector. The Wright-Patterson Air Force Base is the largest single-site employer in Ohio, employing over 30,000 people and providing opportunities for civilian and military personnel. The base’s presence in the region bolsters the economy and provides steady job opportunities for both military and civilian workers.

Dayton’s concentration of people holding advanced degrees in the STEM fields has helped the region’s reputation as a STEM powerhouse. The city is home to many pioneering research and development centers, which foster collaboration between private industry and academic institutions. This synergy creates employment opportunities in fields such as aerospace engineering, biotechnology, and advanced manufacturing.

Unemployment Rate

Dayton, Ohio is one of the most attractive housing markets in the United States, offering affordable prices, historic neighborhoods, and a close-knit community. One of the key factors to consider when assessing the potential of the real estate market in Dayton is the unemployment rate. A low unemployment rate is a sign of a robust job market, which can drive demand for housing and increase property values.

As of the latest data available, the unemployment rate in Dayton, Ohio, stands at 5.9%, which is slightly higher than the national average. However, this rate has been steadily declining in recent years, indicating a positive trend in the job market. Just five years ago, in 2015, the unemployment rate in Dayton was 7.4%.

There are several employment sectors that are driving the growth of the Dayton job market, including aerospace engineering, manufacturing, healthcare, technology, and education. Dayton is home to Wright-Patterson Air Force Base, one of the largest military facilities in the United States, which employs more than 29,000 people. The base is also a major hub for research and development and is responsible for significant contributions in the fields of aerospace, logistics, and healthcare.

Moreover, Dayton also boasts several major universities, including Wright State University, which provides a steady flow of highly educated and skilled professionals to the job market. The area’s diverse economy has helped maintain a relatively low unemployment rate despite economic challenges and recessions.

Job Growth

When it comes to job growth, Dayton, Ohio, has plenty to boast about. Despite a slightly higher unemployment rate of 5.9% compared to the national average, the job market has been steadily improving in recent years. In fact, five years ago, the unemployment rate was 7.4%. Construction, manufacturing, professional and business services, and government are among the sectors showing signs of growth.

The year-over-year job growth rate is also impressive, with an increase of 1.4% in the number of jobs between 2018 and 2019. Moreover, median household incomes have increased during the same time period, providing an additional boost to Dayton’s economy.

The top five employers in Dayton are Premier Health, Wright-Patterson Air Force Base, Kettering Health Network, Miami Valley Hospital, and Dayton Children’s Hospital. The city’s target industries include aerospace and defense, advanced manufacturing, healthcare, and information technology, among others. These industries are expected to continue to boost the local economy and provide ample employment opportunities for workers.

Quality of Life Factors to Consider

When it comes to buying a home, there are many factors to consider, including the quality of life in the area. Dayton, Ohio offers a combination of affordable housing, strong job growth, and a close-knit community, making it an attractive location for real estate investing with the help of Dayton Ohio real estate agents. Additionally, the city offers a variety of amenities, such as excellent schools, public parks, and recreational activities.

Education System in Dayton, Ohio

Dayton, Ohio offers a variety of options for families looking for quality education for their children. The area has both public and private schools, which cater to the diverse needs and preferences of local families.

The public school system in Dayton comprises several districts, including Dayton Public Schools, Oakwood City School District, Centerville City Schools, and Huber Heights City Schools. These districts have consistently ranked high in district rankings, with many earning A or B ratings.

Local schools in Dayton have impressive test scores, often exceeding the national average, with the district graduation rates also surpassing the state and national averages. These factors, combined with the affordability of the area, make Dayton’s public education system an attractive option for many families.

For those interested in private education, Dayton also offers many well-known schools, like Dayton Christian School, a pre-K through 12th-grade institution known for its academics, athletics, and extracurricular activities. Another popular choice is Miami Valley School, a private school with a rigorous academic program, outstanding athletics, and a focus on preparing students for real-world applications.

In Dayton, students have access to unique opportunities like advanced placement courses, vocational programs, and extracurricular activities. Wright State University in Dayton provides a unique college experience with all of the cultural and social benefits of a big university while still maintaining a small, close-knit community feel. Students can also take advantage of programs in technical and vocational training, preparing them for in-demand careers in fields like aerospace engineering.

Moreover, the area boasts various extracurricular activities catering to different interests, including art classes, music programs, and sports teams.

Parks and Recreation Areas

Dayton, Ohio is committed to providing residents with ample opportunities for outdoor activities and fostering a sense of community. The city boasts numerous parks and recreational areas that cater to different interests and activities, making it an excellent place for families and outdoor enthusiasts.

One of the newest and largest parks in Dayton is Spring House Park, which covers an impressive 148-acre expanse. The park features multiple hiking trails that loop around the picturesque pond and through the wooded areas, offering stunning views and peaceful surroundings. For those looking to get some exercise while enjoying the outdoors, the park also has multiple outdoor fitness spaces, pickleball courts, basketball courts, and multi-sport fields that cater to different fitness levels and interests.

Families with young children will appreciate the park’s playgrounds, picnic spots, and splash pad, which provide a fun and safe environment for kids to play and interact with each other. The park is also pet-friendly, featuring a spacious dog park where dogs can run and play off-leash.

Another popular park in Dayton is Patterson Park, which provides a distinctly suburban feel despite being located within Dayton proper. The park has an active civic association that hosts annual events like the Fourth of July parade and the Christmas tree lighting ceremony, making it a popular spot for families and community members to gather and socialize.

For those who appreciate nature and gardening, Dayton also has several parks and gardens like Wegerzyn Gardens MetroPark and Cox Arboretum and Gardens MetroPark. These parks offer a serene environment for visitors to relax, take a stroll, and admire the lush greenery and beautiful blooms.

Proximity to Major Cities and Airports (Dayton International Airport)

Located in the heart of Ohio, Dayton is a city that enjoys proximity to major cities and airports. Dayton International Airport is the primary airport in the area, providing easy access to various destinations. With airlines like Delta, American, and United serving the airport, travelers can easily find connections to cities across the country and even international destinations.

For those without a car, ground transit options such as taxis, rental cars, and shuttle buses are available to take them to and from the airport. The airport is also conveniently located just a short distance from the city center, making it easy for visitors to get to their accommodations or explore the city.

In addition to the convenience of Dayton International Airport, the city is within driving distance of other major cities such as Cincinnati, Columbus, and Indianapolis. Cincinnati is about an hour’s drive away, while the drive to Columbus takes just over an hour and a half. Indianapolis is also easily accessible with a drive that takes around two hours. These nearby cities offer exciting attractions and amenities, making them great options for day trips or weekend getaways.

Historic Neighborhoods

Dayton, Ohio is known for its collection of historic neighborhoods that offer residents a unique and charming living experience. These neighborhoods boast beautiful architecture, cultural attractions, and a close-knit community feel. Let’s take a closer look at the top five historic neighborhoods in Dayton.

Dayton View is a neighborhood that is rich in history and character. This area was the first development outside of Dayton’s downtown area and is home to many of Dayton’s oldest and most distinguished homes. The neighborhood has a mix of both grand mansions and more modest homes. Prices in Dayton View typically range from $75,000 to $300,000.

St. Anne’s Hill is another historic neighborhood that is especially appealing to those who appreciate architecture. This area is known for its stunning Victorian homes and beautiful stonework. Prices in St. Anne’s Hill range from $80,000 to $400,000.

South Park is a neighborhood that is highly sought after due to its central location and community feel. This neighborhood has an eclectic mix of homes, ranging from grand Victorian mansions to more modest bungalows. South Park is also home to many parks, restaurants, and other locally-owned businesses. Homes in South Park typically range from $80,000 to $350,000.

The Oregon District is perhaps Dayton’s most well-known historic neighborhood. This area is home to many of Dayton’s oldest and most recognizable buildings, including several that date back to the 1800s. Filled with independent shops, restaurants, and galleries, the Oregon District is the cultural center of Dayton. Homes in this neighborhood range from $100,000 to $600,000.

McPherson Town is a neighborhood that is known for its charming and unique homes. This area was once home to the workers of McPherson Manufacturing Company and is now home to a mix of historic homes and newly-built residences. Homes in McPherson Town typically range from $60,000 to $250,000.

Real Estate Market Analysis for Dayton, Ohio

The real estate market in Dayton, Ohio is poised for growth in 2022, with a combination of favorable supply and demand dynamics, a strong economy, and an abundance of affordable investment properties. Additionally, Dayton’s quality of life, excellent schools, and low cost of living continue to attract homeowners and renters alike.

Supply and Demand Dynamics

Dayton’s median home price in 2022 is $140,000, which is below the national average. The current sales-to-list price ratio is 98%, indicating a lack of inventory and high demand. The average days on market for a home in Dayton is 46 days, down from 72 days in 2021. Neighborhoods that are trending include Dayton View, St. Anne’s Hill, South Park, Oregon District, and McPherson Town.

Driving Factors

Dayton’s strong job market, led by Wright-Patterson Air Force Base and the aerospace engineering industry, is a major driving factor for the real estate market. Additionally, Dayton offers a wide range of affordable investment properties, making it an attractive destination for real estate investors. The consistently high demand for rental homes ensures a solid return on investment for rental property owners.

Market Forecast

Moving forward into 2022, the Dayton real estate market is predicted to continue to grow, with an increase in housing supply and activity from real estate investors. Median home prices are expected to increase by 7% due to the high demand and low inventory.

Investment Property Opportunities in Dayton, Ohio

Investment opportunities abound in Dayton, Ohio’s real estate market. With its affordable prices, growing job market, and varied choices of investment properties, Dayton provides real estate investors a chance to maximize their profits.

Demand for Homes in the Area

Dayton, Ohio is currently experiencing a strong demand for homes, both in terms of home sales and the rental market. The growth in demand is partly attributed to the region’s job growth, its proximity to major cities, and its affordable housing market compared to other cities.

According to recent market data, the average time a home spends on the market in Dayton is around 65 days. This is slightly below the national average of 73 days. The average sale price of a home in Dayton is $140,000, which is significantly below the national average of $226,800. The average rent price in Dayton is $750, which is well below the national average of $1,470. These figures highlight an excellent opportunity for investors and homebuyers seeking an affordable environment with great value.

The factors that are driving demand include a rapidly growing job market and proximity to major economic hubs. Dayton is home to Wright-Patterson Air Force Base, which is one of the largest employers in the region. The city also has a robust job growth rate due to the aerospace engineering industry, which is thriving in the area. Dayton’s location between larger cities like Columbus and Cincinnati offers residents easy access to these metropolitan areas’ benefits and amenities without the high price tags. This desirable environment is driving a considerable influx of residents to the area, boosting demand for homes.

In addition, the area has a plethora of historic neighborhoods, a strong sense of community, and an excellent quality of life. Public schools in Dayton also rank highly, making the city an attractive destination for families. For real estate investors, the rental market in Dayton is strong. The rent ratio, which is the ratio of the median home price to the average rent, is 16.3, indicating a viable market for rental properties.


In conclusion, Dayton, Ohio has emerged as an excellent location for investing in real estate in recent times. With affordable property prices, a strong job market, and proximity to major cities, it is a buyer’s paradise. Historic neighborhoods add charm and a sense of community, which is a desirable factor for families looking to move into the area. The high demand for homes and a robust rental market provide investors with a viable return on investment.

Apart from financial benefits, Dayton, Ohio also offers high-quality education systems, parks, and recreation areas, making it an ideal place to live, work, and raise a family. Whether you’re looking to buy your first home or invest in real estate, Dayton is definitely worthy of consideration.

All things considered, Dayton, Ohio has established itself as a good place to buy real estate, with all the criteria met, including affordability, job opportunities, and demand for housing. It’s time to start exploring Dayton and seize the opportunities that the city has to offer for real estate investors.

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