Foreclosure Homes for Sale in Toledo, OH: What You Need to Know
Toledo's most common housing types are single-family detached homes, which account for 64.87% of all housing units in the city. Additionally, you can find large apartment complexes or high-rise apartments, duplexes, small apartment buildings, and row houses or other attached homes. 49.96% of owners occupy their residence, and 50.04% are renters. There are 117,864 housing units in the city, and the median cost of homes is $88,648, a 2.59% appreciation rate since the previous year.
About 40% of the housing in Toledo was built between 1940-1960 and are still standing today, 23% of housing was built between 1970-1999, and only about 4% of homes were constructed after the 2000s. The average monthly rent price is $730 for an apartment size of 811 square feet.
The Toledo economy's significant sectors include banking and finance, medical services, instrument companies, technology firms, and manufacturing. There are several Fortune 500 companies with headquarters in the city, such as Owens Corning and Dana Corporation. The largest employer is the University of Toledo; however, the healthcare industry is the city’s largest employment sector. Employees make an average of $46,560 a year, or $16.79 an hour. The populous labor force participation is 61.7%, the employment rate is 55.8%, and the unemployment rate as of September 2020 was 8.50%.
Weather and Climate
On average, Toledo receives 34 inches of rain and 31 inches of snow per year. The summer highs are about 84ºF, and the winter lows are 18ºF. Needless to say, the summers are warm, and the winters are freezing and very windy. The most pleasant months of the year in terms of weather are June, September, and August, while December and January are the coldest and least comfortable months. The most common natural disaster in Ohio is flooding, and it’s the leading cause of disaster-related deaths in the US. Tornadoes and high winds may occur throughout the year.
As the 4th largest city in Ohio, Toledo has a population of 270,651, a decline of .79% in the past year. The land area measures out to a little over 84 miles, giving this city a population density of 3,363 per square mile. Household income averages out to $50,132 annually. The average household size is 2.3 persons, and the average family size is 3.03. The median age of residents is 35.1 years old.