Faro Labs / Markets / Toledo, OH
Toledo real estate investment market
What a typical rental in Toledo, Ohio costs, rents for, and returns: underwritten by Faro's own engine, not a scraped summary.
Returns assume 20% down at 6.75% over 30 years, 7% vacancy, and standard operating costs: Faro's default assumptions, the same ones every report starts from. Home value and rent trends as of 2026-05-31.
Appreciation market
A typical Toledo rental runs $5 short each month at market rent, so the case for buying rests on values rising: they moved 3.6% over the last year. That is a bet on the market rather than on the building, and it needs reserves deep enough to fund the shortfall.
The price a deal actually works at
Faro models five price points for Toledo, from a weak buy to a strong one. The market-rate deal is $135,415; a good buy is $121,874 and a great one $108,332 roughly 20% below market value. Those are the bars a specific listing gets measured against when you run it.
How Toledo compares
Of the 210 markets Faro publishes, Toledo is the 207th most expensive to buy into: 66% below the median covered market, and the 9th strongest on rent-to-price. Within Ohio it's the 5th priciest of 6 markets we cover. On the last year of home-value change it ranks 18th.
To break even at the default financing, a typical Toledo property would need about $1,117 a month in rent: $6 more than the $1,111 the market currently supports.
What each tier costs in Toledo
Faro models five price points per market. A listing gets measured against these bars, not against a national average.
| Tier | Purchase price | Market rent | vs. market rate |
|---|---|---|---|
| Weak buy | $148,956 | $1,055/mo | +10% |
| Fair buy | $142,186 | $1,089/mo | +5% |
| Market rate | $135,415 | $1,111/mo | — |
| Good buy | $121,874 | $1,167/mo | -10% |
| Great buy | $108,332 | $1,222/mo | -20% |
A typical Toledo deal, underwritten
The market-rate property above, run through the same engine every Faro report uses.
| Purchase price | $135,415 |
|---|---|
| Monthly rent | $1,111 |
| Cash required (20% down + 3% closing) | $31,145 |
| Net operating income | $8,374/yr |
| Monthly cash flow | -$5 |
| Cap rate | 6.2% |
| Cash-on-cash return | −0.2% |
| DSCR | 0.99 |
One of the cheapest ways in
At $135,415, a typical Toledo property costs 65.9% less than the median market Faro covers: 207th most expensive of 210. Cash required at 20% down plus closing is about $31,145, which is what makes markets like this the usual starting point for a first rental. The trade is management: a cheap property is not a cheap property to run, and the fixed costs, a roof, a furnace, a turnover, are the same dollars against a much smaller rent.
Negotiation matters more than usual here
The gap between a market-rate Toledo buy at $135,415 and a strong one at $108,332 is 20%: a wide band. In markets with a spread that size, what you pay relative to comps drives the return more than the market's own direction does. Two buyers in the same city, the same month, can end up with completely different deals.
Where it sits in Ohio
Faro covers 6 Ohio markets, and Toledo is the 5th priciest of them at $135,415. Within a single state the tax and insurance environment is broadly shared, so the differences between these markets come down to price, rent, and pace, which makes them the most useful comparison set on this page. The nearby markets listed below are the rest of that set.
Toledo investor questions
Is Toledo a good place to buy rental property?
A typical Toledo rental at $135,415 renting for $1,111 a month returns 6.2% on a cap-rate basis and runs short by $5 a month at 20% down. Individual deals vary far more than markets do, which is the whole reason to underwrite a specific address.
Can you cash-flow a rental in Toledo?
Not at the market's own price and rent. A typical property runs $5 short each month. It would need about $1,117 in rent to break even. Deals that work here are bought below market rather than at it, which is what the price ladder above is for.
How much do you need to buy a rental in Toledo?
About $31,145 at 20% down plus 3% closing on a typical $135,415 property: one of the lower entry points among the 210 markets covered here.
Are rents going up in Toledo?
Rents moved up 4.9% over the last year, measured across 9 ZIP codes. The typical market-rate rental sits at $1,111 a month.
Other Ohio markets
Run the numbers yourself
A market average is not a deal.
Paste a real Toledo listing and Faro underwrites that specific property from its own comps, with a target price you can actually offer.
Estimates for analysis and educational use only: not financial, investment, tax, or legal advice. Verify every number independently before making a purchase decision.