Real Estate Investing in Toledo, Ohio (43623)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 43623 (Toledo, OH)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Toledo, OH (43623)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 43623 Toledo
In practical terms, ZIP 43623 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $211K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $211K asset, 43623 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader OH picture, 43623 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Demographically, 43623 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Experienced landlords with local relationships tend to find 43623 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Toledo:
Property Strategy for 43623
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $155,494 | $1,060 | 4.9% | +8.9% | $77,747 |
| 3BR | $190,279 | $1,360 | 5.1% | +7.9% | $63,426 |
| 4BR | $296,796 | $1,430 | 3.5% | +7.4% | $74,199 |
| 5BR | $383,070 | — | — | +7.1% | $76,614 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 43623 Compare?
| Metric | 43623 | Toledo | Toledo, OH | Ohio |
|---|---|---|---|---|
| Home Value | $211,379 | $114,691 | N/A | $237,530 |
| 5-Year CAGR | 6.0% | 5.0% | N/A | 7.4% |
| Avg Rent | $991 | $1,123 | N/A | - |
| Cap Rate | 3.7% | 8.7% | - | - |
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 43623 (Toledo, OH). Anonymous, moderated, never written by AI.
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Property managers serving Lucas County
Manage rentals here? List your business →Flex Realty Property Management has been providing high quality and personal property management services in Toledo, Ohio since 1991. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $211,379 |
| Monthly Rent | $991 |
| Price-to-Rent | 17.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.6% |
| Cap Rate | 3.7% |
| 5-Year IRR | 9.7% |
📈 Home Appreciation
| 1-Year | +5.4% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +6.0% ▲ |
| 10-Year CAGR | +6.6% ▲ |
🏠 Rent Trends
| 1-Year | -16.9% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.7%). 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 43623
Population: 20,360
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 43623
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
DeVeaux Elementary School
Elmhurst Elementary School
Toledo Technology Academy High School
Start High School
McKinley STEMM Academy
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 1,495 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the average home sale price in Toledo, OH?
Median home price in Toledo, OH is near $211K, with a 5-year CAGR of 0.0%. Prices have been steady and supportive of buy-and-hold strategies.
Are landlord laws favorable in Toledo, OH?
OH law landlord-friendly for landlords, and Toledo inherits those rules. Investors should still review local ordinances for rental licensing.
How deep is the rental pool in Toledo, OH?
Tenant quality in Toledo, OH ranks as solid. Landlords generally report reliable occupancy at market rents of $991/mo.
Is house hacking profitable in Toledo, OH?
House hacking in Toledo, OH is a challenging. With home values around $211K and rents at $991/mo, owner-occupants can offset a meaningful share of PITI.
Are there empty rentals in Toledo, OH?
Rental vacancy in Toledo, OH is elevated. Investors should budget normal turnover but not chronic empty units.
You know 43623 now. You don’t know where it ranks.
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How 43623 ranks in Toledo, OH
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