Airbnb City Guide: The Best Places To Invest in Toledo, Ohio

Airbnb Rules and Regulations in Toledo, Ohio

As of 2024, short-term rental hosts in Toledo, Ohio must obtain a permit from the city to legally operate their properties. The annual permit fee is $50 per property, and hosts are required to complete an application process. In addition to the permit, hosts must also collect and remit applicable occupancy taxes, which include a 6.5% Cuyahoga County Bed Tax for stays of 29 nights or shorter. The city of Toledo allows short-term rentals in residential areas, but hosts should be aware of any additional regulations or restrictions imposed by their local homeowners association (HOA).

It is crucial for hosts to communicate with their neighbors and provide them with contact information in case any issues arise during guest stays. Hosts are responsible for ensuring that their guests adhere to noise ordinances and other local laws. Failure to comply with these regulations may result in fines or legal action taken by the city or HOA. By staying informed about the latest Airbnb rules and regulations in Toledo, hosts can operate their short-term rentals successfully while being good neighbors in their communities.

Toledo Airbnb Market Data:

• Average Revenue – $34.7K per year
• Average Daily Rate – $255.1 per night
• Average Occupancy Rate – 45%
• Average RevPAR – $115.2
• Average Home Prices – $116,239

1. Top Place to Invest in Toledo, Ohio - Old West End

The Historic Old West End in Toledo, Ohio, is a hidden gem for real estate investors seeking a neighborhood with stunning architecture, a strong sense of community, and untapped potential for growth.

Old West End Airbnb Market Data:

• Average Revenue – $48.9K per year
• Average Daily Rate – $364.9 per night
• Average Occupancy Rate – 42%
• Average RevPAR – $149

Convenience - 7/10

The Old West End is conveniently located just minutes from downtown Toledo, providing easy access to major highways, public transportation, and the Toledo Express Airport. While the neighborhood is primarily residential, residents can find essential amenities such as grocery stores, pharmacies, and local businesses within a short drive.

Tourist Attractions - 8/10

This historic district is home to an impressive collection of Victorian, Edwardian, and Arts & Crafts style homes, attracting architecture enthusiasts from around the country. The neighborhood also hosts annual events like the Old West End Festival and Tours de Noel, showcasing the area's unique charm and attracting thousands of visitors.

Things to Do - 7/10

The Old West End offers a variety of activities for residents and visitors alike. The Toledo Museum of Art, known for its extensive glass collection, is just a short walk away. The neighborhood also boasts several parks, including the Bancroft Street Arboretum and Glenwood Park, which offer green spaces for outdoor recreation.

Average Home Prices - 9/10

As of 2024, the median listing home price in the Old West End is $154,777, according to Zillow data. This represents a 4.2% appreciation rate over the past year, indicating a steady growth in property values. The affordable prices and the potential for appreciation make the Old West End an attractive option for investors looking to buy a home to transform into an Airbnb.

Proximity to Work-Related Travel - 8/10

The Old West End's central location puts it within easy reach of major employers and destinations in Toledo. The ProMedica Toledo Hospital and the University of Toledo Medical Center are both less than 10 minutes away, while the Huntington Center and the SeaGate Convention Centre are just a short drive from the neighborhood.

X-Factor - 9/10

Its unique blend of history, architecture, and community spirit sets the Old West End apart. The neighborhood's stunning homes, some of which date back to the late 19th century, create a captivating atmosphere that's hard to find elsewhere. The active neighborhood association and engaged residents work together to preserve the area's character and promote its growth, making it a desirable place to live and invest.

2. Top Place to Invest in Toledo, Ohio - Ottawa Hills

Nestled in the heart of Toledo, Ottawa Hills is a charming village that offers a perfect blend of tranquility and convenience for real estate investors seeking a promising opportunity in the Airbnb and short-term rental market.

Ottawa Hills Airbnb Market Data:

• Average Revenue – $40.9K per year
• Average Daily Rate – $235 per night
• Average Occupancy Rate – 47%
• Average RevPAR – $110.7

Convenience - 8/10

Ottawa Hills boasts an unbeatable location just minutes from downtown Toledo and major highways, making it easily accessible for both residents and visitors alike. The village's well-maintained streets and sidewalks provide a pleasant and safe environment for walking and biking, while essential amenities such as grocery stores, pharmacies, and local businesses are just a short drive away.

Tourist Attractions - 6/10

While Ottawa Hills itself is primarily a residential area, its proximity to Toledo's top attractions makes it an appealing choice for tourists. The world-renowned Toledo Museum of Art, the fascinating National Museum of the Great Lakes, and the family-friendly Imagination Station are all within a 15-minute drive, offering guests a variety of cultural and educational experiences.

Things to Do - 7/10

Ottawa Hills may not be a bustling hub of activity, but it offers a delightful array of recreational opportunities for residents and visitors. The village is home to several beautifully maintained parks, including Ottawa Park and Wildwood Preserve Metropark, which offer hiking trails, picnic areas, and scenic views. Golf enthusiasts will appreciate the nearby Ottawa Park Golf Course, while foodies can explore the diverse dining scene in the surrounding Toledo area.

Average Home Prices - 9/10

As of 2024, the median listing home price in Ottawa Hills is $369,900, according to Zillow data. This represents an impressive 7.8% appreciation rate over the past year, indicating a strong and stable housing market. While the prices may be higher than some other areas in Toledo, the village's desirability, coupled with its potential for steady appreciation, makes it an attractive option for investors seeking long-term returns.

Proximity to Work-Related Travel - 8/10

Ottawa Hills' strategic location puts it within easy reach of major employers and business districts in Toledo. The University of Toledo Medical Center is just a 10-minute drive away, while the SeaGate Convention Centre and the bustling downtown area are accessible within 15 minutes. This proximity to key work-related destinations makes Ottawa Hills an ideal choice for professionals and business travelers.

X-Factor - 9/10

Ottawa Hills' unique combination of small-town charm and upscale living sets it apart. The village's tree-lined streets, meticulously maintained homes, and a strong sense of community create an inviting atmosphere that appeals to both residents and visitors. This distinctive character, the village's excellent school system, and low crime rates position Ottawa Hills as a highly desirable location for establishing short-term rental businesses.

3. Top Place to Invest in Toledo, Ohio - Beverly

Nestled along the Maumee River, Beverly is a charming neighborhood in Toledo, Ohio, known for its historic homes, close-knit community, and proximity to popular attractions like the Toledo Country Club and Maumee River Yacht Club.

Beverly Airbnb Market Data:

• Average Revenue – $29.1K per year
• Average Daily Rate – $231.8 per night
• Average Occupancy Rate – 41%
• Average RevPAR – $94.9

Convenience - 7/10

Beverly's location offers a good balance of tranquility and accessibility. While primarily residential, essential amenities such as grocery stores and local businesses are within a short drive. The neighborhood's well-maintained streets and sidewalks make it easy to navigate on foot or by bike, adding to its overall convenience for residents and visitors alike.

Tourist Attractions - 6/10

As a primarily residential area, Beverly may not boast a wide array of tourist attractions within its borders. However, its proximity to the Toledo Museum of Art, the National Museum of the Great Lakes, and the Toledo Zoo means that visitors can easily access some of the city's top destinations within a short drive.

Things to Do - 7/10

Beverly's riverside location provides ample opportunities for outdoor recreation, such as boating and fishing. The nearby Ottawa Park offers hiking trails, picnic areas, and a golf course for residents and visitors to enjoy. Additionally, the neighborhood's historic architecture and friendly community make it a pleasant place to stroll and explore.

Average Home Prices - 8/10

According to Zillow data, the median listing home price in Beverly as of 2024 is $221,362, which is more expensive than 52% of the neighborhoods in Ohio. However, this price point remains attractive for investors, as it is still lower than the national average. Beverly has seen a steady appreciation rate in the past year, indicating a stable and growing real estate market.

Proximity to Work-Related Travel - 8/10

Beverly's central location puts it within easy reach of major employers and business districts in Toledo. The ProMedica Toledo Hospital and the University of Toledo Medical Center are both within a 15-minute drive, while the SeaGate Convention Centre and the downtown area are just slightly further away. This proximity makes Beverly an appealing choice for professionals and business travelers.

X-Factor - 8/10

What sets Beverly apart is its unique blend of historic charm and community spirit. The neighborhood's beautiful homes and tree-lined streets create a welcoming atmosphere that appeals to both residents and visitors. The active neighborhood association and engaged residents work together to maintain the area's character and promote a strong sense of community, making Beverly a desirable place to live and invest.

4. Top Place to Invest in Toledo, Ohio - Wildwood

Wildwood, a picturesque neighborhood in Toledo, Ohio, is a hidden gem for real estate investors seeking a perfect blend of natural beauty, convenience, and untapped potential in the Airbnb and short-term rental market.

Wildwood Airbnb Market Data:

• Average Revenue – $33.1K per year
• Average Daily Rate – $239 per night
• Average Occupancy Rate – 47%
• Average RevPAR – $112.9

Convenience - 8/10

Situated in the heart of Toledo, Wildwood offers easy access to major highways, public transportation, and the Toledo Express Airport. The neighborhood's well-maintained streets and sidewalks provide a safe and pleasant environment for walking and biking. Essential amenities, such as grocery stores, pharmacies, and local businesses, are just a short drive away, making Wildwood a convenient choice for both residents and visitors.

Tourist Attractions - 7/10

While Wildwood itself is primarily a residential area, its proximity to popular attractions like the Toledo Zoo, the Toledo Museum of Art, and the National Museum of the Great Lakes makes it an appealing choice for tourists. Visitors can easily access these destinations within a 15-minute drive, enjoying a variety of cultural and educational experiences during their stay.

Things to Do - 9/10

Wildwood's crown jewel is the sprawling Wildwood Preserve Metropark, a 493-acre park that offers hiking trails, fishing, and breathtaking views of the Ottawa River. The park's diverse ecosystems, including prairies, wetlands, and forests, provide ample opportunities for outdoor recreation and nature appreciation. Additionally, the nearby Ottawa Park features a golf course, tennis courts, and picnic areas for residents and visitors to enjoy.

Average Home Prices - 8/10

As of 2024, the median listing home price in Wildwood is $239,900, according to Zillow data. This represents a 5.6% appreciation rate over the past year, indicating a steady growth in property values. While the prices may be slightly higher than some other areas in Toledo, Wildwood's desirability, coupled with its potential for appreciation, makes it an attractive option for investors seeking long-term returns.

Proximity to Work-Related Travel - 8/10

Wildwood's central location puts it within easy reach of major employers and business districts in Toledo. The ProMedica Toledo Hospital and the University of Toledo Medical Center are both within a 15-minute drive, while the SeaGate Convention Centre and the bustling downtown area are just slightly further away. This proximity to key work-related destinations makes Wildwood an ideal choice for a corporate rental since it's more convenient and accessible for professionals and business travelers.

X-Factor - 9/10

What sets Wildwood apart is its unparalleled access to nature and outdoor recreation. The Wildwood Preserve Metropark is a true oasis in the heart of the city, offering visitors a chance to escape the hustle and bustle of urban life and immerse themselves in the beauty of the natural world. This unique feature, combined with the neighborhood's charming homes and a strong sense of community, creates a desirable atmosphere for residents and visitors.

5. Top Place to Invest in Toledo, Ohio - Southwyck

Southwyck, a neighborhood in southern Toledo, Ohio, is an up-and-coming area that offers real estate investors a unique opportunity to capitalize on the growing demand for affordable and convenient STRs by starting an Airbnb business of their own.

Southwyck Airbnb Market Data:

• Average Revenue – $25.6K per year
• Average Daily Rate – $166.5 per night
• Average Occupancy Rate – 39%
• Average RevPAR – $72.7

Convenience - 7/10

Located just off I-475, Southwyck provides easy access to major highways and is just a short drive from downtown Toledo. The neighborhood's proximity to essential amenities, such as grocery stores, restaurants, and shopping centers, makes it a convenient choice for both residents and visitors. However, the area's walkability and public transportation options could be improved.

Tourist Attractions - 5/10

Southwyck may not boast a wide array of tourist attractions within its borders as a primarily residential area. However, its location puts it within a 20-minute drive of popular destinations like the Toledo Zoo, the Toledo Museum of Art, and the National Museum of the Great Lakes, making it a convenient base for exploring the city's top attractions.

Things to Do - 6/10

Southwyck offers a few recreational opportunities for residents and visitors, including the nearby Walbridge Park, which features a playground, picnic areas, and a fishing pond. The neighborhood also has a few local restaurants and bars that provide a taste of Toledo's culinary scene. However, the area could benefit from more diverse entertainment options.

Average Home Prices - 9/10

According to Zillow data, the median listing home price in Southwyck as of 2024 is $89,900, making it one of the most affordable neighborhoods in Toledo. This price point is particularly attractive for investors looking to enter the short-term rental market without breaking the bank. In the past year, Southwyck has seen a modest appreciation rate of 2.3%, indicating a stable and growing real estate market.

Proximity to Work-Related Travel - 7/10

Southwyck's location puts it within a 20-minute drive of major employers and business districts in Toledo, including the ProMedica Toledo Hospital, the University of Toledo Medical Center, and the downtown area. While not as centrally located as some other neighborhoods, Southwyck still offers a reasonable commute for professionals and business travelers.

X-Factor - 7/10

What sets Southwyck apart is its potential for growth and revitalization. As Toledo continues to invest in its neighborhoods, Southwyck is poised to benefit from increased development and improved amenities. The area's affordable housing stock and convenient location make it an attractive option for young professionals, families, and short-term rental investors looking to get in on the market through a neighborhood on the rise.