Real Estate Investing in Perry, Ohio (44081)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 44081 (Perry, 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 25.4 — 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 Perry, OH (44081)?
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Market Analysis: 44081 Perry
Not every below-median market is a bargain. Perry's 44081 ZIP sits at signals that favor experienced operators who can absorb the risk $301K pricing implies.
Put differently, the numbers look inviting — $301K purchase price, 0.0% nominal cap — the work to hit that pro forma in 44081 is substantial and deserves full respect.
ZIP 44081's metrics run below Lake County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Employment concentration in 44081 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The 44081 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Perry:
Property Strategy for 44081
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $226,962 | $1,100 | 3.5% | +6.7% | $113,481 |
| 3BR | $281,330 | $1,420 | 3.6% | +6.7% | $93,777 |
| 4BR | $350,279 | $1,510 | 3.1% | +6.9% | $87,570 |
Market Trends
Home Value History (with trend line)
📊 How Does 44081 Compare?
| Metric | 44081 | Perry | Cleveland-Elyria, OH | Ohio |
|---|---|---|---|---|
| Home Value | $301,459 | $301,459 | N/A | $237,530 |
| 5-Year CAGR | 5.1% | 5.1% | N/A | 7.4% |
| Avg Rent | $990 | $990 | N/A | - |
| Cap Rate | 2.6% | 2.6% | - | - |
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 44081 (Perry, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $301,459 |
| Monthly Rent | $990 |
| Price-to-Rent | 25.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.6% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | +4.6% ▲ |
| 3-Year CAGR | +4.4% ▲ |
| 5-Year CAGR | +5.1% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 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 (2.6%). 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 44081
Population: 6,945
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 44081
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 2,179 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How strong is Perry, OH for real estate investors?
Perry, OH scores 3.0/5 for investability. Home values sit at $301K and rents near $990/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Is rental property easy to operate in Perry, OH?
The landlord environment in Perry, OH is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
Do landlords face vacancy issues in Perry, OH?
Expect elevated vacancy in Perry, OH. Rents at $990/mo are absorbed by the tenant base without meaningful lag.
Is house hacking profitable in Perry, OH?
House hacking works a challenging in Perry, OH. Rents of $990/mo against $301K acquisition make the strategy solid for owner-occupants.
What is the smart move for investors in Perry, OH?
Most investors in Perry, OH run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
You know 44081 now. You don’t know where it ranks.
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How 44081 ranks in Cleveland-Elyria, OH
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