Ohio Real Estate - Large Cities and Little Farms

Title: 

Ohio Real Estate - Large Cities and Little Farms

Word Count:

478

Summary:

Ohio is a unique state where large cities like Cleveland and Cincinnati sit next to rural farms. Ohio real estate prices mirror this diversity.

Keywords: #Ohio_Real_Estate, #Ohio, #Cleveland, #Cincinnati, #Columbus, #Home_Appraiser, #Home_Appraisal, #Ohio_Rehab, #Ohio_house, #Ohio_home 

Article Body:

Ohio is a unique state where large cities like Cleveland and Cincinnati sit next to rural farms. Ohio real estate prices mirror this diversity. 

Ohio

Ohio was a mainstay in the industrial revolution in the United States. Cities such as Cleveland and Cincinnati spawned industrial might to such a degree that Cleveland is still the home to many millionaires per person in the United States. Bet you did not know that! As the industrial revolution faded, the state has evolved and now has a strong high tech industry, particularly in Columbus. Notwithstanding all of this, Ohio has maintained a strong rural farming influence, which can be seen just be driving out of the cities. Throw in a bevy of lakes, and you have a surprisingly wonderful place to live.  

Columbus

Columbus is the state capital of Ohio and home to the massive Ohio State University. Sitting on the bank of the Scioto River, the city is centrally located and reflects the farmland surrounding it with a relaxed atmosphere. Named after Christopher Columbus, the city is designed well with large green areas, a thoughtful layout and statutes galore. With a huge university, the city has a definite college town feel with accompanying coffee shops, art galleries and a festive nightlife. If college football is your passion, this is the place to be in the fall. 

Cleveland

The Great Depression of the 1930s devastated the Cleveland economy, but World War II (1939–45) revived industry, and Cleveland companies recruited new workers to fill its expanded industrial capacity from among southern blacks and white Appalachians. The middle class, however, began moving out of the city into suburbs, as was the pattern nationally, and the inner city of Cleveland began to decline. By the 1960s, much of the city had sunk into poverty, and in 1966 the primarily black neighborhood of Hough erupted in riots that made national headlines. Three years later, the Cuyahoga River, saturated with a century of industrial pollutants, caught on fire. The image of a burning river, broadcast around the world, became an image that the city of Cleveland would find difficult to shake. Its reputation was further tarnished during the 1970s when it suffered a devastating fiscal crisis causing it to declare bankruptcy in 1976.

Cleveland is a city going through a major renaissance. Once branded with a rather nasty reputation, the city is now a gem in Ohio. Major money has been put into redevelopment and the city is now a hot spot for nightlife and cultural activities such as the rock n’ roll Hall of Fame. Once known as the ‘mistake on the lake’, Cleveland is now the gem of cities on Lake Erie. Lakewood and Ohio City’s older homes are starting to experience revitalization, as many younger faces are using their capital to rehab the once beautiful houses. If you are looking for a ground floor opportunity, Cleveland may just be the city for you. 

Little Italy, located on the city's eastern border with Cleveland Heights, is a thriving Italian neighborhood that in recent years has become an arts center. On the near east side, just to the north of midtown, is a small Chinatown. On the northeast side is the Slavic Village, and to the east is Hough, a largely African American neighborhood that was the site of violent riots during the Civil Rights movements of the 1960s and 1970s.

The Van Sweringen brothers, real estate developers, purchased from a community of Shakers (the devout religious sect) a large tract of land about 16 kilometers (ten miles) east of Public Square. This land became the community of Shaker Heights, the first planned suburban community in the nation. To lure Cleveland's new and growing middle and upper classes into their community, the Van Sweringens bought a rail line and converted it to a commuter rail connecting their land with a downtown station they built. In 1996, the city received grants and loans of $22.6 million from the U.S. Department of Housing and Urban Development to help build 400 new homes and renovate 65 homes in the Central neighborhood, a residential, industrial sector just east of the downtown.

In 1994, the cost of housing in Cleveland was the second lowest among large cities in the country. In the greater Cleveland area, the average price for a single family home in 1994 was $104,400, compared to $161,600 nationally. Among the 18 largest U.S. metropolitan areas, Cleveland residents also had the lowest average mortgage payments. 

9. Economy

Historically, Cleveland was a major industrial and manufacturing center. During the late 1970s and early 1980s, however, the local economy suffered, leaving Cleveland and many other midwestern cities, in an economic recession. During the 1980s, Cleveland lost 11.9 percent of its population when workers moved to take new jobs in the south and west. (During this period industrialized cities of the Midwest and Northeast were labeled the Rust Belt, and their counterparts in the South and Southwest, the Sun Belt.) Beginning in the late 1980s and continuing into the 1990s, however, Cleveland made the transition from an industrial economy to a services-based economy. In 1995, in fact, 28.8 percent of the workforce in the Cleveland metropolitan area was engaged in services, compared to 20.6 percent in manufacturing. Wholesale and retail trade employed 23.6 percent that year and 12.8 percent worked for local, state, and federal government.

In 1995, Cleveland was home to 95 companies with revenues exceeding $100 million. Among the largest employers in the area (1994) were the U.S. government (18,500); Ford Motor Company (10,896 employees); Catholic Diocese of Cleveland (10,000); Cleveland Clinic Foundation (9,900); Cleveland Board of Education (9,673); Cuyahoga County Government (9,232); MetroHealth System (8,328); City of Cleveland (8,226); University Hospitals (7,640); State of Ohio (7,630); LTV Steel Company (7,500); Riser Foods (6,500); First National Supermarkets (6,451); Centerior Energy (6,200); Goodyear Tire and Rubber (5,937); and Ameritech (5,309).

 

Cincinnati

Sitting on the Ohio River, Cincinnati is a sit with a mix of influences. You will find a definite European influence mixed with a southern feel and energized economy. This odd mix gives rise to an eccentric streak in a city which elected Jerry Springer as the Mayor. Yes, the Jerry Springer on television. Still, the city is a typical hard working town in Ohio with a surprising number of attractions such as the redeveloped river front area. The city also has a strong tradition of professional sports with the baseball Reds and the revitalized football Bengals. 

Ohio Real Estate

Ohio real estate prices are very reasonable regardless of where you go. A single family home in Columbus, Cleveland or Cincinnati wouldl set you back between $220,000 and $250,000 before 2008, but now homes in Ohio are even more affordable. Head out of these cities and you can even expect to pay much less. 

Despite all the positive aspects of Ohio, appreciation rates are not the best in the state. 

http://www.encyclopedia.com/topic/Cleveland.aspx