Real Estate Investing in Elyria, Ohio (44035)
Should you buy in 44035 (Elyria, OH)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.1% vacancy may signal weakening demand.
What’s happening in Elyria, OH (44035)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 44035 Elyria
Not every below-median market is a bargain. Elyria's 44035 ZIP registers signals that favor experienced operators who can absorb the risk $190K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $190K asset, 44035 is the wrong submarket. If the plan prices in friction, the yield can still work.
On the rental side, 44035 offers a low basis, the region around Elyria has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A solid renter share of 39% in 44035 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
tilts toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Elyria:
Property Strategy for 44035
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $97,797 | $950 | 7.0% | +11.7% | $97,797 |
| 2BR | $136,125 | $1,150 | 6.1% | +9.3% | $68,062 |
| 3BR | $176,561 | $1,480 | 6.0% | +8.0% | $58,854 |
| 4BR | $232,862 | $1,580 | 4.9% | +8.0% | $58,216 |
| 5BR | $257,416 | — | — | +8.0% | $51,483 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 44035 Compare?
| Metric | 44035 | Elyria | Cleveland-Elyria, OH | Ohio |
|---|---|---|---|---|
| Home Value | $190,248 | $190,248 | N/A | $237,530 |
| 5-Year CAGR | 6.9% | 6.9% | N/A | 7.4% |
| Avg Rent | $1,066 | $1,066 | N/A | - |
| Cap Rate | 4.4% | 4.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 44035 (Elyria, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $190,248 |
| Monthly Rent | $1,066 |
| Price-to-Rent | 14.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.7% |
| Cap Rate | 4.4% |
| 5-Year IRR | 11.2% |
📈 Home Appreciation
| 1-Year | +7.6% ▲ |
| 3-Year CAGR | +6.9% ▲ |
| 5-Year CAGR | +6.9% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 Rent Trends
| 1-Year | +3.4% ▲ |
| 3-Year CAGR | +5.6% ▲ |
| 5-Year CAGR | +6.6% ▲ |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (4.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 44035
Population: 62,024
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 44035
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,646 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What real estate strategy is ideal for Elyria, OH?
The best-fit strategy in Elyria, OH is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Is rental property easy to operate in Elyria, OH?
OH law landlord-friendly for landlords, and Elyria inherits those rules. Investors should still review local ordinances for rental licensing.
How high is vacancy risk in Elyria, OH?
Elyria, OH sees elevated vacancy, which is reasonable relative to the broader OH rental market.
Does a duplex house hack pencil in Elyria, OH?
House hacking in Elyria, OH is reasonable to execute. Prices around $190K and rents of $1,066/mo solid owner-occupant economics.
Is real estate in Elyria, OH a good investment right now?
Our data puts Elyria, OH at 3.0/5 for investability. Home prices of $190K and rents around $1,066/mo create a solid backdrop for investor activity.
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