Introduction

Investing in rental properties can be a lucrative venture, but choosing the right property is crucial for maximizing returns. A good rental property often has several key attributes: a desirable location, a reasonable purchase price, potential for appreciation, and demand from renters. The location is particularly important because it affects both the rental income potential and the property's appreciation over time. Fairfield County, OH, offers a range of opportunities for rental property investors, with its diverse neighborhoods, attractive amenities, and economic stability.

In this guide, we'll explore the best neighborhoods and areas in Fairfield County, grading each on various factors to help you make an informed investment decision.

Best Neighborhoods and Areas in Fairfield County, OH

1. Lancaster

Grades:

• Convenience: B+
• Tourist Attractions: B
• Things to Do: B
• Average Home Prices: A-
• Return on Investment: A
• Proximity to Work-Related Travel: B+
• X-Factor: A

Convenience: Lancaster is the county seat and offers a variety of essential services and shopping options. The town has good access to major highways, making it relatively easy to commute to nearby cities.

Tourist Attractions: While Lancaster may not be a major tourist hub, it does boast historical sites like the Georgian Museum and the Ohio Glass Museum. These attractions add to the town's charm and can draw occasional visitors.

Things to Do: Residents can enjoy local parks, community events, and a modest but diverse dining scene. The Fairfield County Fair is a notable annual event that brings the community together.

Average Home Prices: Lancaster offers affordable housing, with average home prices lower than the national median, making it an attractive option for investors looking to maximize their purchasing power.

Return on Investment: With relatively low home prices and steady rental demand, Lancaster offers a strong return on investment. Rental yields are competitive, and the market shows potential for appreciation.

Proximity to Work-Related Travel: Lancaster is within a reasonable distance of Columbus, offering opportunities for those who need to commute to the city for work. Additionally, local hospitals and business centers provide employment opportunities.

X-Factor: Lancaster's blend of small-town charm, historical significance, and community spirit makes it a unique and desirable place to live. Its affordability and quality of life are significant draws for both renters and investors.

2. Pickerington

Grades:

• Convenience: A
• Tourist Attractions: B+
• Things to Do: A-
• Average Home Prices: B+
• Return on Investment: B+
• Proximity to Work-Related Travel: A
• X-Factor: A-

Convenience: Pickerington offers excellent convenience with its proximity to Columbus, making it ideal for commuters. The town has a range of shopping centers, restaurants, and schools, providing residents with everything they need close to home.

Tourist Attractions: The Ohio Railway Museum and the Pickerington Ponds Metro Park are key attractions that draw visitors. These sites add to the town's appeal and provide recreational opportunities for residents.

Things to Do: Pickerington is known for its parks and recreational facilities, including the popular Pickerington Community Pool and several well-maintained parks. The town hosts various community events throughout the year, enhancing the quality of life for residents.

Average Home Prices: Home prices in Pickerington are higher than in some other areas of Fairfield County but still offer good value. The market is competitive, reflecting the town's desirability and strong demand.

Return on Investment: The higher home prices in Pickerington mean that the return on investment might not be as high as in more affordable areas, but the steady appreciation and demand make it a solid investment choice.

Proximity to Work-Related Travel: Pickerington's location near Columbus ensures excellent connectivity for work-related travel. The town is also close to several major employers, hospitals, and business centers.

X-Factor: Pickerington's combination of suburban tranquility, excellent schools, and proximity to urban amenities makes it a highly desirable location. Its family-friendly atmosphere and quality of life are significant attractions for renters and investors.

3. Canal Winchester

Grades:

• Convenience: B+
• Tourist Attractions: B
• Things to Do: B+
• Average Home Prices: B
• Return on Investment: B+
• Proximity to Work-Related Travel: B+
• X-Factor: B+

Convenience: Canal Winchester offers a good balance of convenience and suburban charm. It has a variety of local shops, restaurants, and services, with easy access to major highways for commuting.

Tourist Attractions: The town is home to historical sites like the National Barber Museum and events such as the annual Canal Winchester Labor Day Festival, which attract visitors and provide local entertainment.

Things to Do: Residents can enjoy outdoor activities at nearby parks, community events, and a selection of dining and shopping options. The town has a vibrant community spirit, with numerous local gatherings and festivals.

Average Home Prices: Home prices in Canal Winchester are moderate, providing good opportunities for investors seeking affordable properties with growth potential.

Return on Investment: The town offers a solid return on investment with steady rental demand and moderate home prices. The rental market is stable, and properties tend to appreciate over time.

Proximity to Work-Related Travel: Canal Winchester is reasonably close to Columbus, providing good connectivity for work-related travel. The town is also near several key employers and business hubs.

X-Factor: Canal Winchester's unique blend of historical charm, community-focused events, and suburban lifestyle makes it a desirable place to live. Its moderate home prices and quality of life are attractive to both renters and investors.

4. Carroll

Grades:

• Convenience: B
• Tourist Attractions: C+
• Things to Do: B
• Average Home Prices: B+
• Return on Investment: B+
• Proximity to Work-Related Travel: B
• X-Factor: B

Convenience: Carroll is a smaller town with essential services and local businesses. It offers a quiet, rural lifestyle with easy access to larger towns and cities for additional amenities.

Tourist Attractions: Carroll has fewer tourist attractions compared to other areas, but its proximity to Lancaster and Pickerington provides access to a broader range of attractions and activities.

Things to Do: The town offers a peaceful, rural environment with local parks and community events. Residents can enjoy a slower pace of life with easy access to outdoor activities.

Average Home Prices: Home prices in Carroll are affordable, making it an attractive option for investors looking for budget-friendly properties with potential for appreciation.

Return on Investment: The affordable home prices and steady rental demand offer a good return on investment. Carroll's rental market is stable, and properties have room for appreciation.

Proximity to Work-Related Travel: While Carroll is more rural, it is still within reasonable commuting distance to larger towns and cities, offering access to employment opportunities and business centers.

X-Factor: Carroll's rural charm and affordability make it a unique and desirable location for those seeking a quieter lifestyle. Its proximity to larger towns and cities provides a good balance of tranquility and convenience.

Conclusion

Fairfield County, OH, offers a variety of attractive options for rental property investors. Each neighborhood has its unique appeal, from the historical charm of Lancaster to the suburban convenience of Pickerington. By evaluating key factors such as convenience, tourist attractions, things to do, average home prices, return on investment, proximity to work-related travel, and the 'x-factor,' investors can make informed decisions that align with their investment goals.

Whether you're looking for a bustling suburban environment or a quiet rural retreat, Fairfield County has something to offer. By carefully considering the strengths and opportunities of each area, you can unlock the investment potential of rental properties in this dynamic and diverse region.