Quick facts: Toledo, OH

Quick Facts

96.4
Cost of Living
below US average
266,301
Population
42.55
Crime Rate per 1000
above US average
$45,405
Median Income
below US average
$69,500
Median House Price
above US average
$1104.77
Average Rent
below US average
26%
Poverty Rate
above US average
6.7%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $45,405.

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Income Needed to Buy

βœ“ Affordable
$22k/year
Based on $69,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($45,405) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$47k/year
Based on $1104.77/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $47k vs median $45,405
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Toledo, OH

Toledo, Ohio, located in the northwestern part of the state along the banks of the Maumee River, is known as the "Glass City" due to its historical significance in the glass manufacturing industry. With a population of approximately 275,000, Toledo is the fourth-largest city in Ohio. The city boasts a diverse cultural scene, with attractions such as the Toledo Museum of Art, which features an impressive glass collection, and the Toledo Zoo, renowned for its innovative exhibits. Toledo is home to several higher education institutions, including the University of Toledo and Owens Community College, contributing to the city's vibrant student population. The city’s economy is diversified, with sectors like manufacturing, healthcare, and education playing significant roles. Outdoor enthusiasts can enjoy the scenic beauty of the Maumee Bay State Park and nearby Lake Erie, offering recreational activities such as hiking, fishing, and boating. The city's rich history includes its pivotal role in the War of 1812 and its growth during the industrial revolution. Overall, Toledo is a city that blends history, culture, and community, making it an interesting place to visit or live.

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