Ohio was one of the states hit hardest by the economic downturn, with the Bureau of Labor Statistics estimating that Ohio lost just shy of 300,000 jobs over the 18-month recession. While the state’s economic recovery has been a slow process, recent figures show the unemployment rate has dropped from 7.4% just a year ago to 5.5% in May. Additionally, Ohio’s efforts to revitalize its aerospace industry and encourage foreign investment appear to have been successful, with over 438 aviation firms now operating in the state.
Homeownership in Ohio is within reach for most buyers with median monthly homeowner costs at less than 30% of income, which meets the U.S. Department of Housing and Urban Development’s standard for affordability. Coupled with an upswing in the state’s economy, purchasing a home in Ohio is likely to be a good investment.
NerdWallet.com crunched the numbers to find the best cities for homeownership in Ohio. Click here to see the detailed analysis.
Specifically, Macedonia made the list with a high homeownership rate of 91.4%. While technically part of the Akron metropolitan area, Macedonia is a nearly equidistant commute from Akron or Cleveland. Macedonia’s location is not only ideal for commuting, but it is also several minutes from the sprawling 33,000-acre Cuyahoga Valley National Park. Macedonia is part of Nordonia Hills, several small towns that share public school systems and a chamber of commerce