Ultimate Erie County Real Estate Investing Guide for 2024
Overview
Erie County Real Estate Investing Market Overview
Over the past ten years, the population growth rate in Erie County has a yearly average of . To compare, the annual rate for the whole state averaged and the United States average was .
Erie County has seen an overall population growth rate throughout that span of , when the state’s overall growth rate was , and the national growth rate over ten years was .
Currently, the median home value in Erie County is . For comparison, the median value for the state is , while the national median home value is .
The appreciation tempo for homes in Erie County through the past ten-year period was annually. Through the same cycle, the annual average appreciation rate for home prices in the state was . In the whole country, the yearly appreciation rate for homes averaged .
For renters in Erie County, median gross rents are , compared to at the state level, and for the US as a whole.
Erie County Real Estate Investing Highlights
Erie County Top Highlights
https://housecashin.com/investing-guides/investing-erie-county-oh/#top_highlights_3
Strategies
Strategy Selection
When examining a potential investment site, your investigation should be directed by your investment plan.
We’re going to provide you with guidelines on how to view market trends and demography statistics that will influence your particular sort of investment. This will guide you to estimate the information provided within this web page, as required for your desired program and the respective selection of information.
Basic market factors will be significant for all types of real estate investment. Low crime rate, principal highway access, regional airport, etc. When you dig harder into a community’s data, you need to examine the location indicators that are essential to your investment requirements.
Events and features that draw visitors will be vital to short-term rental investors. Fix and flip investors will notice the Days On Market statistics for homes for sale. If you see a six-month stockpile of houses in your value category, you might want to hunt in a different place.
The unemployment rate will be one of the first things that a long-term real estate investor will look for. The unemployment data, new jobs creation pace, and diversity of employers will signal if they can anticipate a solid stream of renters in the city.
Those who need to determine the best investment strategy, can contemplate using the background of Erie County top property investment coaches. Another interesting thought is to participate in one of Erie County top property investor groups and attend Erie County real estate investing workshops and meetups to learn from various mentors.
Let’s look at the diverse kinds of real property investors and statistics they need to look for in their site research.
Active Real Estate Investment Strategies
Buy and Hold
If a real estate investor acquires a property with the idea of holding it for an extended period, that is a Buy and Hold approach. Their investment return calculation involves renting that investment property while it’s held to improve their returns.
When the asset has grown in value, it can be liquidated at a later time if local real estate market conditions adjust or the investor’s strategy requires a reallocation of the portfolio.
A realtor who is ranked with the top Erie County investor-friendly realtors can offer a comprehensive analysis of the market where you’d like to invest. We will demonstrate the elements that need to be reviewed carefully for a desirable buy-and-hold investment strategy.
Factors to Consider
Property Appreciation Rate
This variable is crucial to your investment property location determination. You are searching for reliable property value increases each year. Long-term property growth in value is the basis of the whole investment plan. Locations without growing home values will not match a long-term real estate investment analysis.
Population Growth
If a location’s population isn’t growing, it obviously has a lower demand for housing units. This is a sign of diminished rental prices and property values. Residents migrate to get superior job possibilities, preferable schools, and safer neighborhoods. A site with low or declining population growth should not be considered. The population increase that you are seeking is steady year after year. Both long- and short-term investment measurables are helped by population increase.
Property Taxes
Real estate taxes are an expense that you aren’t able to avoid. You want a city where that expense is reasonable. These rates rarely decrease. High real property taxes reveal a diminishing economy that will not retain its current residents or appeal to additional ones.
It occurs, nonetheless, that a specific property is wrongly overestimated by the county tax assessors. If this circumstance occurs, a business from our list of Erie County property tax dispute companies will take the situation to the county for reconsideration and a possible tax assessment markdown. However, in unusual cases that require you to appear in court, you will require the support provided by top real estate tax lawyers in Erie County OH.
Price to rent ratio
Price to rent ratio (p/r) is determined by dividing the median property price by the yearly median gross rent. A market with high rental rates will have a low p/r. The higher rent you can set, the more quickly you can repay your investment capital. Nonetheless, if p/r ratios are too low, rental rates can be higher than house payments for the same housing. If renters are converted into buyers, you can get left with vacant rental properties. But generally, a lower p/r is preferred over a higher one.
Median Gross Rent
Median gross rent can reveal to you if a location has a durable lease market. You need to see a steady increase in the median gross rent over time.
Median Population Age
You should consider a community’s median population age to estimate the percentage of the populace that might be renters. Search for a median age that is similar to the age of the workforce. A median age that is unacceptably high can indicate growing impending pressure on public services with a dwindling tax base. An older populace will cause escalation in property taxes.
Employment Industry Diversity
Buy and Hold investors do not like to find the market’s job opportunities provided by only a few businesses. A variety of industries dispersed over various companies is a solid employment base. This stops the disruptions of one industry or corporation from harming the whole housing business. When most of your renters have the same company your lease income relies on, you’re in a risky position.
Unemployment Rate
If unemployment rates are severe, you will find not enough desirable investments in the city’s housing market. Current tenants can have a tough time making rent payments and new tenants may not be much more reliable. When tenants get laid off, they become unable to pay for products and services, and that impacts companies that give jobs to other people. Steep unemployment rates can hurt a region’s capability to recruit new employers which impacts the region’s long-range economic picture.
Income Levels
Income levels are a guide to communities where your possible tenants live. Your evaluation of the area, and its specific pieces where you should invest, needs to contain a review of median household and per capita income. When the income levels are growing over time, the community will presumably provide steady tenants and permit increasing rents and progressive increases.
Number of New Jobs Created
Statistics describing how many job openings emerge on a recurring basis in the community is a vital means to conclude if a location is best for your long-term investment project. A stable source of renters needs a strong job market. The inclusion of new jobs to the market will enable you to keep high tenant retention rates even while adding properties to your investment portfolio. Employment opportunities make a region more desirable for settling down and buying a residence there. This fuels a vibrant real property market that will enhance your investment properties’ worth when you intend to exit.
School Ratings
School rating is a crucial factor. New employers need to discover excellent schools if they are planning to move there. The condition of schools will be a big motive for families to either remain in the community or relocate. An unstable source of renters and homebuyers will make it difficult for you to achieve your investment goals.
Natural Disasters
With the main target of unloading your property after its value increase, its physical status is of primary importance. Consequently, try to dodge places that are frequently impacted by natural disasters. Nonetheless, you will still have to protect your investment against disasters common for most of the states, including earthquakes.
To insure property costs caused by tenants, search for assistance in the directory of the best rated Erie County landlord insurance companies.
Long Term Rental (BRRRR)
A long-term wealth growing strategy that involves Buying a house, Renovating, Renting, Refinancing it, and Repeating the procedure by spending the cash from the refinance is called BRRRR. When you desire to expand your investments, the BRRRR is a good method to use. A key part of this strategy is to be able to do a “cash-out” refinance.
The After Repair Value (ARV) of the house needs to total more than the complete buying and renovation costs. Then you extract the equity you created out of the property in a “cash-out” refinance. You buy your next house with the cash-out funds and do it all over again. This program helps you to repeatedly add to your portfolio and your investment income.
If your investment property portfolio is substantial enough, you may outsource its management and generate passive cash flow. Locate one of the best property management professionals in Erie County OH with the help of our exhaustive directory.
Factors to Consider
Population Growth
The growth or fall of the population can tell you whether that location is interesting to rental investors. If the population growth in a market is robust, then new renters are assuredly relocating into the region. Businesses view this market as an appealing area to relocate their business, and for employees to relocate their families. This means reliable renters, greater lease income, and more possible homebuyers when you want to liquidate the property.
Property Taxes
Property taxes, upkeep, and insurance expenses are investigated by long-term rental investors for calculating costs to estimate if and how the investment will pay off. Excessive real estate tax rates will negatively impact a property investor’s returns. Excessive property taxes may show a fluctuating community where costs can continue to increase and must be treated as a warning.
Price to Rent Ratio
The price to rent ratio (p/r) is a signal of what amount of rent can be collected in comparison to the cost of the property. An investor will not pay a high price for a house if they can only demand a small rent not allowing them to pay the investment off within a realistic time. You need to see a low p/r to be comfortable that you can price your rents high enough to reach good returns.
Median Gross Rents
Median gross rents illustrate whether a site’s lease market is robust. Hunt for a stable increase in median rents during a few years. If rental rates are declining, you can eliminate that region from deliberation.
Median Population Age
Median population age in a dependable long-term investment market should show the typical worker’s age. If people are resettling into the city, the median age will have no challenge remaining in the range of the labor force. If you find a high median age, your stream of tenants is becoming smaller. A vibrant economy cannot be supported by retired people.
Employment Base Diversity
A diversified amount of employers in the community will increase your chances of better income. If there are only a couple dominant employers, and one of such relocates or closes down, it can cause you to lose renters and your real estate market values to plunge.
Unemployment Rate
You won’t be able to enjoy a secure rental income stream in a community with high unemployment. Jobless individuals stop being customers of yours and of related businesses, which produces a ripple effect throughout the region. This can generate increased dismissals or reduced work hours in the market. This may increase the instances of delayed rents and renter defaults.
Income Rates
Median household and per capita income data is a valuable indicator to help you find the places where the renters you need are located. Historical salary statistics will illustrate to you if salary raises will permit you to raise rental rates to achieve your investment return predictions.
Number of New Jobs Created
An increasing job market produces a steady supply of tenants. More jobs equal additional renters. This assures you that you will be able to sustain a high occupancy rate and buy more rentals.
School Ratings
The quality of school districts has a strong impact on property prices across the community. Highly-ranked schools are a prerequisite for employers that are looking to relocate. Business relocation attracts more tenants. Recent arrivals who are looking for a home keep housing values high. You will not run into a dynamically growing housing market without good schools.
Property Appreciation Rates
Real estate appreciation rates are an essential portion of your long-term investment approach. You want to make sure that the chances of your property raising in price in that community are promising. Inferior or declining property appreciation rates should eliminate a location from the selection.
Short Term Rentals
A short-term rental is a furnished apartment or house where a tenant stays for less than one month. Long-term rental units, like apartments, charge lower rent per night than short-term ones. With tenants fast turnaround, short-term rental units have to be maintained and cleaned on a continual basis.
House sellers waiting to close on a new home, vacationers, and corporate travelers who are stopping over in the city for a few days prefer renting apartments short term. Any homeowner can turn their property into a short-term rental with the tools offered by virtual home-sharing platforms like VRBO and AirBnB. Short-term rentals are deemed as a good approach to jumpstart investing in real estate.
The short-term rental housing venture involves interaction with occupants more often compared to yearly lease properties. That leads to the landlord having to frequently manage complaints. Consider handling your exposure with the assistance of any of the good real estate attorneys in Erie County OH.
Factors to Consider
Short-Term Rental Income
You have to figure out how much revenue has to be created to make your effort financially rewarding. A glance at a market’s current average short-term rental prices will tell you if that is an ideal area for your endeavours.
Median Property Prices
You also must determine the budget you can manage to invest. Look for markets where the budget you prefer is appropriate for the present median property worth. You can tailor your real estate search by looking at median prices in the area’s sub-markets.
Price Per Square Foot
Price per sq ft may be misleading if you are looking at different buildings. A building with open entrances and vaulted ceilings can’t be compared with a traditional-style residential unit with larger floor space. If you take note of this, the price per sq ft can provide you a basic estimation of property prices.
Short-Term Rental Occupancy Rate
A quick check on the city’s short-term rental occupancy levels will tell you if there is an opportunity in the region for additional short-term rentals. A community that demands more rental units will have a high occupancy level. Low occupancy rates communicate that there are more than enough short-term rentals in that city.
Short-Term Rental Cash-on-Cash Return
Cash-on-cash return is a method to assess the value of an investment. Divide the Net Operating Income (NOI) by the amount of cash invested. The result you get is a percentage. If a project is profitable enough to pay back the investment budget promptly, you’ll get a high percentage. Funded projects will have a stronger cash-on-cash return because you will be spending less of your capital.
Average Short-Term Rental Capitalization (Cap) Rates
This metric shows the comparability of rental property worth to its per-annum income. An income-generating asset that has a high cap rate as well as charging typical market rental prices has a high market value. When cap rates are low, you can expect to spend more for investment properties in that location. Divide your projected Net Operating Income (NOI) by the property’s market value or purchase price. The percentage you receive is the investment property’s cap rate.
Local Attractions
Short-term tenants are usually people who come to a region to attend a recurrent special event or visit unique locations. This includes collegiate sporting tournaments, children’s sports activities, schools and universities, huge auditoriums and arenas, festivals, and amusement parks. Notable vacation sites are found in mountain and coastal points, near rivers, and national or state nature reserves.
Fix and Flip
To fix and flip real estate, you should get it for less than market price, make any needed repairs and updates, then sell the asset for higher market worth. The secrets to a profitable investment are to pay a lower price for the investment property than its existing value and to accurately compute what it will cost to make it saleable.
It is vital for you to know how much homes are selling for in the area. The average number of Days On Market (DOM) for properties listed in the community is critical. To effectively “flip” a property, you have to sell the renovated home before you have to shell out money to maintain it.
In order that real estate owners who have to sell their house can easily locate you, highlight your availability by using our catalogue of the best property cash buyers in Erie County OH along with top property investment companies in Erie County OH.
Also, work with Erie County real estate bird dogs. Specialists in our catalogue concentrate on acquiring desirable investment opportunities while they’re still under the radar.
Factors to Consider
Median Home Price
Median real estate price data is a vital gauge for assessing a future investment environment. When purchase prices are high, there may not be a reliable reserve of fixer-upper houses available. This is a necessary ingredient of a fix and flip market.
If your examination indicates a fast decrease in real estate values, it might be a heads up that you’ll uncover real estate that fits the short sale requirements. You will receive notifications about these opportunities by joining with short sale processors in Erie County OH. Learn how this works by studying our guide — How Do You Buy a Short Sale Property?.
Property Appreciation Rate
Dynamics is the route that median home market worth is taking. You’re looking for a consistent increase of local property values. Property values in the area need to be increasing steadily, not abruptly. Acquiring at the wrong point in an unsteady environment can be catastrophic.
Average Renovation Costs
Look closely at the potential repair spendings so you’ll know whether you can achieve your goals. The way that the municipality goes about approving your plans will affect your project too. To create an on-target financial strategy, you’ll have to find out if your construction plans will be required to use an architect or engineer.
Population Growth
Population growth is a strong indicator of the potential or weakness of the location’s housing market. When there are buyers for your restored homes, the statistics will indicate a robust population increase.
Median Population Age
The median citizens’ age is a direct sign of the availability of ideal home purchasers. If the median age is equal to the one of the regular worker, it’s a good sign. Workers are the people who are qualified home purchasers. Older people are preparing to downsize, or relocate into age-restricted or assisted living communities.
Unemployment Rate
While assessing a market for real estate investment, search for low unemployment rates. The unemployment rate in a future investment location should be lower than the US average. If the area’s unemployment rate is lower than the state average, that is a sign of a good investing environment. If you don’t have a robust employment environment, a community can’t supply you with enough homebuyers.
Income Rates
The residents’ income statistics can brief you if the community’s economy is strong. When people purchase a home, they normally need to take a mortgage for the purchase. The borrower’s wage will determine how much they can afford and if they can purchase a house. You can see based on the region’s median income whether enough people in the community can manage to buy your homes. Specifically, income growth is critical if you are looking to expand your investment business. Construction costs and home purchase prices rise periodically, and you want to be certain that your target clients’ salaries will also climb up.
Number of New Jobs Created
The number of jobs appearing each year is valuable data as you consider investing in a particular region. An expanding job market indicates that a larger number of prospective home buyers are amenable to buying a house there. With more jobs generated, new potential homebuyers also move to the area from other locations.
Hard Money Loan Rates
Those who buy, fix, and liquidate investment real estate opt to employ hard money and not normal real estate funding. Hard money financing products allow these purchasers to move forward on pressing investment projects right away. Locate top hard money lenders for real estate investors in Erie County OH so you can match their costs.
Investors who aren’t experienced concerning hard money lenders can discover what they ought to learn with our resource for newbie investors — What Is a Private Money Lender?.
Wholesaling
In real estate wholesaling, you find a property that investors may consider a lucrative investment opportunity and enter into a purchase contract to purchase the property. An investor then ”purchases” the contract from you. The investor then finalizes the transaction. The real estate wholesaler does not sell the residential property itself — they only sell the purchase contract.
This method involves utilizing a title company that’s familiar with the wholesale contract assignment operation and is capable and predisposed to handle double close deals. Locate title companies for real estate investors in Erie County OH on our list.
Discover more about this strategy from our complete guide — Real Estate Wholesaling 101. When following this investment strategy, list your company in our directory of the best property wholesalers in Erie County OH. This will let your potential investor buyers discover and reach you.
Factors to Consider
Median Home Prices
Median home prices in the area will show you if your preferred purchase price range is viable in that city. Since real estate investors prefer investment properties that are on sale for less than market price, you will need to find below-than-average median prices as an implied tip on the potential source of houses that you could acquire for less than market worth.
Rapid worsening in real estate market values might lead to a lot of homes with no equity that appeal to short sale property buyers. This investment strategy often delivers numerous particular benefits. Nonetheless, be cognizant of the legal risks. Discover details about wholesaling a short sale property with our comprehensive instructions. When you’ve chosen to attempt wholesaling these properties, be sure to engage someone on the directory of the best short sale legal advice experts in Erie County OH and the best foreclosure attorneys in Erie County OH to advise you.
Property Appreciation Rate
Median home purchase price trends are also vital. Investors who intend to sit on real estate investment assets will need to find that home market values are constantly appreciating. Both long- and short-term real estate investors will avoid a location where housing market values are dropping.
Population Growth
Population growth stats are a contributing factor that your potential investors will be aware of. If they realize the community is growing, they will conclude that new housing is a necessity. They realize that this will involve both leasing and purchased housing. When a location is declining in population, it does not need additional housing and investors will not be active there.
Median Population Age
A vibrant housing market prefers individuals who start off leasing, then shifting into homeownership, and then moving up in the housing market. This necessitates a vibrant, consistent workforce of residents who feel confident enough to buy up in the housing market. When the median population age is the age of wage-earning citizens, it shows a robust property market.
Income Rates
The median household and per capita income demonstrate stable improvement over time in regions that are good for investment. Increases in lease and purchase prices will be backed up by rising income in the market. That will be crucial to the investors you are trying to work with.
Unemployment Rate
The market’s unemployment numbers will be an important factor for any prospective wholesale property buyer. Delayed lease payments and lease default rates are prevalent in communities with high unemployment. Long-term investors who count on consistent rental payments will do poorly in these cities. High unemployment creates uncertainty that will keep interested investors from buying a house. Short-term investors will not risk being stuck with a house they cannot resell fast.
Number of New Jobs Created
The amount of jobs generated every year is an essential component of the housing framework. Additional jobs generated attract more employees who look for homes to rent and buy. Long-term real estate investors, like landlords, and short-term investors like rehabbers, are drawn to areas with impressive job appearance rates.
Average Renovation Costs
Renovation expenses will be essential to most real estate investors, as they typically purchase bargain distressed houses to update. The price, plus the costs of repairs, should amount to less than the After Repair Value (ARV) of the property to allow for profitability. Give preference to lower average renovation costs.
Mortgage Note Investing
This strategy involves buying debt (mortgage note) from a mortgage holder at a discount. When this occurs, the investor becomes the debtor’s mortgage lender.
Loans that are being paid off as agreed are thought of as performing notes. These notes are a repeating generator of cash flow. Non-performing notes can be re-negotiated or you could pick up the property at a discount by completing foreclosure.
Ultimately, you might have a lot of mortgage notes and have a hard time finding more time to oversee them by yourself. If this occurs, you could choose from the best mortgage servicing companies in Erie County OH which will designate you as a passive investor.
When you want to adopt this investment method, you ought to place your venture in our list of the best real estate note buying companies in Erie County OH. Showing up on our list puts you in front of lenders who make profitable investment opportunities accessible to note investors such as yourself.
Factors to consider
Foreclosure Rates
Low foreclosure rates are an indication that the market has investment possibilities for performing note investors. Non-performing loan investors can carefully take advantage of locations with high foreclosure rates as well. If high foreclosure rates have caused a weak real estate environment, it could be difficult to get rid of the property after you foreclose on it.
Foreclosure Laws
Investors should understand their state’s regulations concerning foreclosure prior to investing in mortgage notes. They will know if their law requires mortgages or Deeds of Trust. A mortgage dictates that you go to court for permission to foreclose. You don’t have to have the court’s approval with a Deed of Trust.
Mortgage Interest Rates
Purchased mortgage notes contain an agreed interest rate. That rate will unquestionably impact your profitability. Interest rates impact the strategy of both types of note investors.
The mortgage loan rates charged by conventional mortgage lenders aren’t the same in every market. Private loan rates can be slightly more than traditional interest rates because of the more significant risk dealt with by private lenders.
Profitable note investors routinely check the interest rates in their area set by private and traditional lenders.
Demographics
A region’s demographics stats assist mortgage note buyers to target their efforts and appropriately use their assets. Mortgage note investors can learn a lot by reviewing the extent of the population, how many people are working, what they make, and how old the residents are.
Performing note investors require homeowners who will pay as agreed, developing a stable revenue flow of mortgage payments.
Non-performing mortgage note buyers are reviewing similar indicators for different reasons. A resilient regional economy is needed if they are to find homebuyers for collateral properties on which they have foreclosed.
Property Values
As a note investor, you should look for deals with a comfortable amount of equity. If the investor has to foreclose on a mortgage loan with lacking equity, the foreclosure auction might not even pay back the amount owed. The combined effect of mortgage loan payments that lessen the mortgage loan balance and yearly property value growth increases home equity.
Property Taxes
Escrows for property taxes are usually sent to the mortgage lender along with the mortgage loan payment. When the property taxes are payable, there should be enough payments being held to pay them. If the homeowner stops paying, unless the loan owner takes care of the property taxes, they will not be paid on time. Tax liens take priority over all other liens.
If property taxes keep growing, the client’s house payments also keep increasing. Delinquent homeowners may not be able to keep up with increasing mortgage loan payments and might stop making payments altogether.
Real Estate Market Strength
A location with growing property values promises strong opportunities for any mortgage note buyer. It is good to understand that if you are required to foreclose on a property, you will not have difficulty getting a good price for the collateral property.
Growing markets often show opportunities for private investors to make the first mortgage loan themselves. For experienced investors, this is a valuable part of their investment strategy.
Passive Real Estate Investment Strategies
Syndications
A syndication means a group of investors who pool their funds and knowledge to invest in property. One individual puts the deal together and invites the others to invest.
The coordinator of the syndication is referred to as the Syndicator or Sponsor. He or she is in charge of supervising the acquisition or construction and assuring income. This member also manages the business issues of the Syndication, such as investors’ dividends.
The rest of the participants are passive investors. They are assured of a preferred part of the profits after the procurement or development completion. The passive investors aren’t given any authority (and thus have no obligation) for rendering company or asset management determinations.
Factors to consider
Real Estate Market
The investment plan that you use will govern the community you select to enroll in a Syndication. To understand more concerning local market-related elements vital for various investment approaches, review the previous sections of this guide discussing the active real estate investment strategies.
Sponsor/Syndicator
As a passive investor depending on the Syndicator with your funds, you need to check the Sponsor’s reliability. They must be an experienced investor.
In some cases the Syndicator does not place capital in the investment. But you prefer them to have money in the project. In some cases, the Syndicator’s investment is their effort in discovering and arranging the investment project. Besides their ownership portion, the Syndicator may be owed a payment at the beginning for putting the project together.
Ownership Interest
Every partner has a piece of the partnership. You ought to search for syndications where the members injecting cash are given a larger portion of ownership than owners who are not investing.
As a cash investor, you should also intend to get a preferred return on your capital before income is disbursed. When net revenues are achieved, actual investors are the initial partners who are paid a percentage of their cash invested. Profits in excess of that figure are split among all the members based on the size of their interest.
If company assets are liquidated at a profit, it’s distributed among the partners. In a growing real estate market, this may provide a big increase to your investment returns. The syndication’s operating agreement outlines the ownership arrangement and how members are dealt with financially.
REITs
Some real estate investment firms are structured as trusts termed Real Estate Investment Trusts or REITs. Before REITs were invented, real estate investing was too expensive for many investors. Shares in REITs are affordable for most investors.
Shareholders’ participation in a REIT classifies as passive investing. Investment exposure is diversified throughout a portfolio of investment properties. Shares may be liquidated when it’s desirable for the investor. Something you can’t do with REIT shares is to select the investment assets. Their investment is confined to the properties chosen by their REIT.
Real Estate Investment Funds
Mutual funds owning shares of real estate companies are termed real estate investment funds. The investment real estate properties are not owned by the fund — they’re held by the companies in which the fund invests. These funds make it feasible for a wider variety of people to invest in real estate properties. Funds are not required to pay dividends like a REIT. The benefit to you is generated by increase in the value of the stock.
You can locate a fund that focuses on a distinct category of real estate company, such as multifamily, but you cannot suggest the fund’s investment assets or locations. As passive investors, fund participants are glad to permit the directors of the fund make all investment determinations.
Housing
Erie County Housing 2024
Erie County has a median home value of , the total state has a median home value of , while the figure recorded nationally is .
The average home market worth growth rate in Erie County for the recent decade is per annum. The total state’s average over the previous 10 years was . Across the country, the yearly appreciation percentage has averaged .
Looking at the rental housing market, Erie County has a median gross rent of . The same indicator in the state is , with a US gross median of .
The rate of homeowners in Erie County is . The total state homeownership rate is presently of the whole population, while across the US, the rate of homeownership is .
The percentage of residential real estate units that are resided in by renters in Erie County is . The total state’s stock of rental properties is occupied at a percentage of . The nation’s occupancy percentage for leased residential units is .
The occupied percentage for residential units of all kinds in Erie County is , with a corresponding vacancy rate of .
Real Estate Trends
Erie County Home Appreciation Rates
https://housecashin.com/investing-guides/investing-erie-county-oh/#home_appreciation_rates_10
Erie County Home Value
https://housecashin.com/investing-guides/investing-erie-county-oh/#home_value_10
Erie County Median Home Value
https://housecashin.com/investing-guides/investing-erie-county-oh/#median_home_value_10
Erie County Median Gross Rent
https://housecashin.com/investing-guides/investing-erie-county-oh/#median_gross_rent_10
Erie County Price To Rent Ratio Over Time
https://housecashin.com/investing-guides/investing-erie-county-oh/#price_to_rent_ratio_over_time_10
Erie County Home Ownership
Erie County Rent & Ownership
https://housecashin.com/investing-guides/investing-erie-county-oh/#rent_&_ownership_11
Erie County Rent Vs Owner Occupied By Household Type
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Erie County Occupied & Vacant Number Of Homes And Apartments
https://housecashin.com/investing-guides/investing-erie-county-oh/#occupied_&_vacant_number_of_homes_and_apartments_11
Erie County Household Type
https://housecashin.com/investing-guides/investing-erie-county-oh/#household_type_11
Erie County Property Types
Erie County Age Of Homes
https://housecashin.com/investing-guides/investing-erie-county-oh/#age_of_homes_12
Erie County Types Of Homes
https://housecashin.com/investing-guides/investing-erie-county-oh/#types_of_homes_12
Erie County Homes Size
https://housecashin.com/investing-guides/investing-erie-county-oh/#homes_size_12
Marketplace
Erie County Investment Property Marketplace
If you are looking to invest in Erie County real estate, our Investment Property Marketplace can become your indispensable tool in your investing business. To help you easily find the best off-market deals in the Erie County area, we created a nationwide investor-friendly online platform. Use it to shop for lucrative off-market properties for sale according to your specific buying criteria.
Unlike other real estate listing websites, our marketplace’s interface is particularly designed for investors. Besides the purchase price, you can see other, essential to investors, key indicators such as: rehab costs and ARV, potential profit, FSBO, or realtor-assisted deal, and others. To get started, visit our marketplace and search for Erie County investment properties for sale.
Erie County Investment Properties for Sale
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Financing
Erie County Real Estate Investing Financing
If you are looking for a loan to finance investment property purchase, rehab or ground up construction in Erie County OH, easily get quotes from multiple lenders at once and compare rates.
Fill out our quick online real estate financing application form to receive multiple quotes for your preferred type of loan from our preferred Erie County private and hard money lenders.
Erie County Investment Property Loan Types
- Rehab Loans
- Fix and Flip Loans
- Bridge Loans
- Asset Based Loans
- Cash Out/Refinance Loans
- Transactional Funding
- Transactional Hard Money Loans
- Private Money Loans
- New Construction Loans
Population
Erie County Population Trends
Erie County has a total population of .
Over the last decade, the population growth rate of Erie County was . The 10-year growth rate for the whole state is . The decade’s population growth rate for the US overall was .
The average yearly growth rate for Erie County was , and the state’s average was . Over the same decade, the average per-annum population growth rate for the United States was .
The median age in Erie County is .
Erie County Population Over Time
https://housecashin.com/investing-guides/investing-erie-county-oh/#population_over_time_24
Erie County Population By Year
https://housecashin.com/investing-guides/investing-erie-county-oh/#population_by_year_24
Erie County Population By Age And Sex
https://housecashin.com/investing-guides/investing-erie-county-oh/#population_by_age_and_sex_24
Economy
Erie County Economy 2024
Erie County has a median household income of . Statewide, the household median income is , and all over the US, it is .
This equates to a per person income of in Erie County, and in the state. is the per person amount of income for the country in general.
Currently, the average wage in Erie County is , with a state average of , and the United States’ average rate of .
In Erie County, the rate of unemployment is , during the same time that the state’s unemployment rate is , in contrast to the nation’s rate of .
The economic information from Erie County shows an across-the-board rate of poverty of . The total poverty rate throughout the state is , and the nation’s number stands at .
Erie County Residents’ Income
Erie County Median Household Income
https://housecashin.com/investing-guides/investing-erie-county-oh/#median_household_income_27
Erie County Per Capita Income
https://housecashin.com/investing-guides/investing-erie-county-oh/#per_capita_income_27
Erie County Income Distribution
https://housecashin.com/investing-guides/investing-erie-county-oh/#income_distribution_27
Erie County Poverty Over Time
https://housecashin.com/investing-guides/investing-erie-county-oh/#poverty_over_time_27
Erie County Property Price To Income Ratio Over Time
https://housecashin.com/investing-guides/investing-erie-county-oh/#property_price_to_income_ratio_over_time_27
Erie County Job Market
Erie County Employment Industries (Top 10)
https://housecashin.com/investing-guides/investing-erie-county-oh/#employment_industries_(top_10)_28
Erie County Unemployment Rate
https://housecashin.com/investing-guides/investing-erie-county-oh/#unemployment_rate_28
Erie County Employment Distribution By Age
https://housecashin.com/investing-guides/investing-erie-county-oh/#employment_distribution_by_age_28
Erie County Average Salary Over Time
https://housecashin.com/investing-guides/investing-erie-county-oh/#average_salary_over_time_28
Erie County Employment Rate Over Time
https://housecashin.com/investing-guides/investing-erie-county-oh/#employment_rate_over_time_28
Erie County Employed Population Over Time
https://housecashin.com/investing-guides/investing-erie-county-oh/#employed_population_over_time_28
Schools
Erie County School Ratings
The school structure in Erie County is kindergarten to 12th grade, with grade schools, middle schools, and high schools.
The high school graduating rate in the Erie County schools is .
Erie County School Ratings
https://housecashin.com/investing-guides/investing-erie-county-oh/#school_ratings_31