Stark County

Stark County sits at a gross rent-to-price ratio of 6.02% on a $211,655 median home price against $1,062 in median rent. The model cap rate comes in at 3.91%, which places this market firmly in appreciation-leaning territory rather than cash-flow territory. At a 6.85% mortgage rate with 20% down, the model underwrite produces negative $420 per month in cash flow and a cash-on-cash return of negative 10.35%. Those numbers are not subtle. The 4.35% year-over-year price appreciation is real and scores an 84 on the appreciation index, which is the highest individual score in the county's profile and explains where the investment thesis actually lives. Stability scores a 50, which warrants attention from anyone expecting smooth sailing.

This market suits an appreciation buyer or a patient value-add operator far more than a cash-flow buyer running standard leverage at current rates. The cash-flow score of 60 out of 100 reflects a market that can produce income under the right conditions, but not at the median price point with today's financing. A buyer who can negotiate below median, bring more equity, or convert a distressed asset at a lower basis has a better shot at threading the needle. The affordability index of 80 and median household income of $63,130 suggest there is genuine renter demand from working households who cannot buy at current rates, which supports occupancy for operators who price correctly. But anyone penciling a deal at $211,655 with conventional financing needs to underwrite the negative carry explicitly and have a clear thesis for how price appreciation or rent growth closes the gap over a defined hold period.

The $316 per month in combined property tax and insurance deserves a dedicated line on your underwrite. At a state-average effective rate of 1.56%, Ohio's property tax burden is high enough to move deals from marginal to underwater, and it is already baked into the estimated expenses figure. That monthly number represents $275 per month in tax alone on the median-priced asset. The state-average rate is the figure on file here, and county and township rates in Ohio vary enough that you should pull the actual parcel-level tax bill before you close, not after. The insurance rate of 0.23% is relatively contained and is not the driver of cost pressure here. Tax is.

The stability score of 50 is the most important risk signal in this data set. It does not point to a specific cause, but a mid-sized Midwestern county at 374,199 people with no economic anchor data on file warrants independent due diligence on employer concentration and population trend. Markets at this population size in Ohio can carry meaningful exposure to a single large employer or a declining industrial base. Before committing capital, verify the current composition of the local job market and whether any major employers have announced expansions or contractions. Demographic drift in smaller Midwestern metros can suppress rent growth even when headline prices are rising, since price appreciation in lower-cost markets is often driven more by investor and owner-occupant demand than by income growth.

Among the five neighboring counties in the comparison set, Stark's 6.02% rent-to-price ratio is the second lowest, sitting just above Richland County at 5.99%. Richland prices in at $187,141 with only $935 in median rent, so the absolute rent level is lower even though the ratio is similar. Hancock County posts the most attractive rent-to-price ratio at 6.85% on a $229,447 median, which means it is likely generating better cash-flow math at the same leverage assumptions. Lorain and Medina counties carry higher price points ($249,898 and $333,151) with ratios of 6.34% and 6.46% respectively, putting them in the appreciation-leaning camp as well but at significantly higher entry cost. Greene County at 6.75% and $289,519 median splits the difference. All five neighbors carry an overall score of 68, identical to Stark's 68, which means the differentiation comes down to price point, rent level, and what you believe about local growth. Choose Stark over its neighbors when your thesis is lower entry price combined with appreciation upside and you are willing to accept negative carry in the near term, or when you identify a specific asset trading at enough discount to the median to generate neutral or positive cash flow. If cash flow is the primary mandate, Hancock County's 6.85% ratio at a reasonable absolute price point warrants a closer look before committing to Stark.