Introduction

Investing in rental properties can be a lucrative endeavor when approached with the right knowledge and strategy. A good rental property typically offers a combination of desirable location, reasonable purchase price, and high rental demand. Location is paramount; it influences the rental income, appreciation potential, and overall return on investment. Portage County, OH, offers diverse opportunities for rental property investments due to its blend of suburban and semi-rural communities, proximity to major cities, and a strong local economy.

Best Neighborhoods and Areas in Portage County, OH

1. Kent

Grades:

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

Convenience:
Kent is home to Kent State University, providing excellent public transportation and easy access to daily necessities, restaurants, and shopping centers. The city layout is conducive to walking and biking, making it convenient for students and professionals alike.

Tourist Attractions:
While Kent may not have major tourist attractions, its vibrant college town atmosphere and the Kent State University Museum attract visitors. The annual Kent Heritage Festival also draws crowds.

Things to Do:
Kent offers a variety of cultural and recreational activities, including live music venues, parks, and the Cuyahoga River for kayaking and fishing. The downtown area is bustling with cafes, bars, and shops.

Average Home Prices:
The average home price in Kent is relatively affordable, with a range that appeals to both investors and renters. Homes typically range from $150,000 to $250,000.

Return on Investment:
With a steady stream of students and faculty from Kent State University, rental properties in Kent tend to have high occupancy rates and stable rental income. The university’s presence ensures a consistent demand for housing.

Proximity to Work-Related Travel:
Kent is conveniently located near major highways and is only a short drive from Akron and Cleveland, making it ideal for commuters. Additionally, Akron-Canton Airport is easily accessible for business travel.

X-Factor:
The unique charm of Kent lies in its college town vibe, combined with a strong sense of community and a supportive environment for local businesses. The presence of Kent State University adds cultural diversity and vibrancy.

2. Ravenna

Grades:

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

Convenience:
Ravenna, the county seat, offers a good mix of urban and suburban living with convenient access to shops, schools, and medical facilities. Public transportation options are more limited compared to Kent.

Tourist Attractions:
Ravenna’s historical sites, such as the Portage County Courthouse and various historical homes, attract history enthusiasts. The annual Balloon A-Fair is a notable event that brings visitors to the area.

Things to Do:
Ravenna provides several parks and recreational areas, including West Branch State Park for outdoor activities like hiking, boating, and fishing. The city also has a small but vibrant downtown area with restaurants and local shops.

Average Home Prices:
Homes in Ravenna are quite affordable, with average prices ranging from $100,000 to $200,000. This lower price point makes it attractive for first-time investors.

Return on Investment:
While not as high as Kent, Ravenna offers a solid return on investment due to its lower entry costs and stable rental market. The community is family-friendly, which attracts long-term renters.

Proximity to Work-Related Travel:
Ravenna is well-connected by Route 14 and is a short drive from Akron and Cleveland. However, it lacks the immediate proximity to major business hubs and airports that Kent enjoys.

X-Factor:
Ravenna’s historical charm and small-town feel, combined with its affordability, make it a unique and appealing option for investors looking for steady, long-term returns.

3. Streetsboro

Grades:

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

Convenience:
Streetsboro offers excellent convenience with its proximity to major highways like I-480 and the Ohio Turnpike, making commuting straightforward. The area has ample shopping centers, restaurants, and essential services.

Tourist Attractions:
While Streetsboro is not known for major tourist attractions, it is close to several regional attractions, including Aurora Farms Premium Outlets and the Cuyahoga Valley National Park.

Things to Do:
Streetsboro provides various outdoor activities with nearby parks, golf courses, and recreational facilities. The community also hosts several local events and festivals throughout the year.

Average Home Prices:
The housing market in Streetsboro is moderately priced, with homes typically ranging from $150,000 to $300,000. This makes it accessible for a wide range of investors.

Return on Investment:
Streetsboro’s strong rental market, combined with moderate home prices, results in a favorable return on investment. The area’s growth and development prospects further enhance its investment appeal.

Proximity to Work-Related Travel:
The city’s location near major highways provides easy access to Akron, Cleveland, and other surrounding cities. This makes it ideal for professionals who need to commute or travel for work.

X-Factor:
Streetsboro’s strategic location near major transportation routes and its ongoing development make it a standout choice for investors. The city’s blend of suburban living with urban amenities offers a balanced lifestyle.

4. Aurora

Grades:

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

Convenience:
Aurora offers a high level of convenience with its well-planned residential areas, shopping centers, and good schools. The city is designed to cater to families and professionals alike.

Tourist Attractions:
Aurora is home to the Aurora Farms Premium Outlets and Wildwater Kingdom, both of which attract visitors. Its historical sites and beautiful parks add to its appeal.

Things to Do:
Residents and visitors can enjoy various activities, from shopping and dining to outdoor recreation at the city’s numerous parks and golf courses. The Aurora Community Theatre also offers cultural entertainment.

Average Home Prices:
Homes in Aurora are priced higher compared to other areas in Portage County, typically ranging from $200,000 to $400,000. This reflects the area’s desirability and higher living standards.

Return on Investment:
Despite higher home prices, Aurora offers a good return on investment due to its strong rental demand and high property values. The quality of life in Aurora attracts a steady stream of renters.

Proximity to Work-Related Travel:
Aurora’s location near major highways allows easy access to Akron and Cleveland. However, it is slightly farther from these cities compared to Kent and Streetsboro.

X-Factor:
Aurora’s upscale living environment, combined with its top-rated schools and abundant amenities, makes it a highly desirable place to live and invest. The blend of natural beauty and urban convenience is a unique selling point.

Conclusion

Investing in rental properties in Portage County, OH, offers a variety of opportunities tailored to different investor preferences and budgets. Kent stands out for its vibrant college town atmosphere and consistent rental demand, while Ravenna appeals with its affordability and historical charm. Streetsboro’s strategic location and development prospects make it a strong contender, and Aurora’s upscale environment offers a unique investment opportunity. By carefully evaluating these factors, investors can unlock significant potential in Portage County’s rental property market.