Being a landlord in Ohio when the population is decreasing

[Gary Dezoysa]

Ohio has some great rent yields but I'm scared of not being able to find tenants in the future if the decades-long population decline continues.

I imagine renting gets tougher every year? Or do you guys not notice it?

[Jonathan Kelly]

Hi @Gary Dezoysa,

I have lived in ohio for my entire life.  I know that statistically there appears to be a declining population (see right graphic below). A "migration" of 10,604 people left the state of ohio last year.  But what they don't make obvious is that this isn't a net population change.  Look at the left barchart and you'll see that Ohio actually grew in population last year by 28,162 (births no doubt).  Here is a graphic from census.gov 

So I would say that the people being born here are far ourpacing the young people leaving the state.  

In Ohio I think it's mainly about WHERE you invest and not how you invest.  For instance Columbus is booming right now, and Cleveland is on the rise as well.  A safe bet for renting in ohio is around universities.  You'll constantly have that influx of people who need affordable housing.  Ohio may be undesirable to some but the majority of us who are from here, love it here and aren't going anywhere.  Often times I think statistics can tell an inaccurate story and sensationalize things.  Here is a picture of the US by population.  Ohio ranks #7.  Ohio also borders New York (#4),Pennsylvania (#6), and Michigan(#10) so this general area of the country is pretty strong in terms of population.  No where is like Cali obviously but we're still up there in terms of population.  The only part of the state I'm not sure of is the west side of the state.  Up north you have Toledo, Akron and Cleveland, north east is youngstown, central is columbus, south west is dayton and cincinatti.  In ohio I'd say it's more about picking the right area rather than thinking there is about to be such a decline that you aren't able to rent.  100 years down the road, who knows?  But in the next 10-30 I'd say you're safe.