Overview of the Commercial and Residential
Real Estate Market in Ohio
The Professional Football Hall of Fame is in Canton, Rock's Hall of Fame is in Cleveland, and the Buckeye State has always done its part to keep motorist rolling safely. Cleveland was the location of the nation's first traffic light (1914). While Cincinnati established the first ambulance service (1865). John Lambert built the nation's first automobile in Ohio City (1891) and the first city to utilize police cars was Akron. It is also known as the rubber capital of the world. Columbus is the largest city and has population of 822,553, according to the U.S. Census. Its median home value is $130,700 and median household income is $44,072. Of the 11,572,005 total Ohioans, 390,113 live in Cleveland. The city's median home value ($76,700) is $54,100 less than the state's median home value ($130,800). The state's median household income is $48,303 compared with $26,217 for Cleveland. Forty-six percent of the city's residents live in multi-unit structures and more than 35 percent are below the poverty level.
Ohio's manufacturing sector is third-largest in the country. The state was ranked second in the nation for best business climate by Site Selection magazine in 2010 and Ohio has one of the most business-friendly tax systems in the nation. The Columbus, Dayton, and Cincinnati markets have low unemployment and strong demand for retails space and apartments. NAI Daus sees a bright future for industrial markets in Northeast Ohio and a good start in 2015 for Cleveland's Central Business District. A positive trend for the area is the conversion of obsolete Class-B and Class-C office space to apartments. The city continues to attract people with improved walkability and green initiatives.
Office Rental and Executive Suites in Cincinnati, OH
How to Become a Realtor in Ohio
With protecting the public as a top priority, the Real Estate & Professional Licensing Division of Ohio's Department of Commerce sets the standards for licensing and oversees the conduct of real estate agents and brokers across the state. They require all applicants be at least 18 year old. They also expect applicants to be honest and have a good reputation. Anyone found guilty of a crime of moral turpitude, a felony conviction, or that has violated civil rights laws in real estate will most likely not be licensed. They might receive a license if the state's superintendent over the Real Estate Division is convinced the infraction will not occur again. Prior to taking the state exams, applicants must complete 120 hours of state approved real estate classes. Ohio has reciprocity with eight states.