Real Estate Investing in Granville, Ohio (43023)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 43023 (Granville, OH)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High price-to-rent: Price-to-rent ratio 38.1 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Granville, OH (43023)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 43023 Granville
Investors eyeing 43023 need to respect the fundamentals at play. Home values of $531K come alongside slower price movement and elevated management overhead.
Rent of $1,161/mo on a $531K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 43023 sits below the stated 0.0% once reality is priced in.
ZIP 43023's metrics run below Licking County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The 43023 ZIP's population of 15,772 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that comes in at the need for careful underwriting.
New investors are better served looking at Granville's stable or hybrid ZIPs before stepping into 43023. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Granville:
Property Strategy for 43023
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $350,272 | $1,290 | 2.7% | +7.8% | $175,136 |
| 3BR | $439,145 | $1,550 | 2.5% | +7.5% | $146,382 |
| 4BR | $591,466 | $1,740 | 2.1% | +7.9% | $147,866 |
| 5BR | $814,371 | — | — | +8.7% | $162,874 |
Market Trends
Home Value History (with trend line)
📊 How Does 43023 Compare?
| Metric | 43023 | Granville | Columbus, OH | Ohio |
|---|---|---|---|---|
| Home Value | $531,375 | $531,375 | N/A | $237,530 |
| 5-Year CAGR | 5.9% | 5.9% | N/A | 7.4% |
| Avg Rent | $1,161 | $1,161 | N/A | - |
| Cap Rate | 1.7% | 1.7% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 43023 (Granville, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $531,375 |
| Monthly Rent | $1,161 |
| Price-to-Rent | 38.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.6% |
| Cap Rate | 1.7% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | +5.5% ▲ |
| 3-Year CAGR | +3.4% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | +5.7% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 43023
Population: 15,772
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 43023
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,665 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are landlord laws favorable in Granville, OH?
OH law landlord-friendly for landlords, and Granville inherits those rules. Investors should still review local ordinances for rental licensing.
Are renters plentiful in Granville, OH?
Tenant demand in Granville, OH is solid. The local workforce $1,161/mo rents across most rental classes.
How much should I expect to pay for a home in Granville, OH?
Median home price in Granville, OH is near $531K, with a 5-year CAGR of 0.0%. Prices have been predictable and supportive of buy-and-hold strategies.
Is Granville, OH a smart market for rental property?
Investors tracking Granville, OH will find a 3.0/5 rating supported by $531K median home values and $1,161/mo rents. That profile suits long-term holders targeting predictable returns.
How much rent can I charge in Granville, OH?
Investors in Granville, OH typically see rents near $1,161/mo per month against $531K home values - a solid setup for rental cash flow.
You know 43023 now. You don’t know where it ranks.
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How 43023 ranks in Columbus, OH
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