Youngstown is one of the most affordable markets in the country in the Midwest with a smaller market with 62,000 residents. At a 4.59% estimated cap rate, this is a moderate market where rents of $1,050/mo lag behind home prices. With a median home price of $165,000 and the population has been declining, which investors should factor into long-term projections, Youngstown offers opportunities for investors who source deals carefully.
Market data powered by Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) · Updated Feb 2026
Youngstown's 0.6% rent-to-price ratio is well below the 1% rule. At median prices of $165,000, the $1,050/mo rent produces only $631/mo in NOI. Investors here need to target below-median properties or pursue value-add strategies to make the numbers work.
At current rates, a 20% down conventional loan ($33K at 7%) would result in approximately $-247/mo cash flow — negative at median prices. Larger down payments, seller financing, or buying 15–25% below median are strategies to turn the numbers positive.
Property taxes consume 21% of gross rent here — one of the highest ratios in our dataset. This significantly compresses margins and makes Youngstown a market where tax-conscious underwriting is essential. Every deal should be stress-tested with potential assessment increases.
All figures below are computed from Youngstown's real market medians. Use them as a baseline; override with property-specific numbers in the calculators.
At 1.6% effective rate on the $165,000 median price, the annual tax bill is $2,640 — that's very high (top 15% of US markets) (+51% vs the national average of ~1.06%). Verify the actual assessed value before purchase; sale-triggered reassessments can push the bill higher than the seller's current statement.
If Youngstown continues appreciating at 1.5%/yr while rents grow at a conservative 3%/yr, cap rate holds roughly steady as price growth outpaces rent. Year-by-year projection at the median:
| Year | Est. Price | Est. Rent/Mo | Cap Rate |
|---|---|---|---|
| Today | $165K | $1,050 | 4.6% |
| Year 1 | $167K | $1,082 | 4.7% |
| Year 2 | $170K | $1,114 | 4.7% |
| Year 3 | $173K | $1,147 | 4.8% |
| Year 4 | $175K | $1,182 | 4.9% |
| Year 5 | $178K | $1,217 | 4.9% |
Same median-priced Youngstown property — different capital structures. All-cash maximizes cap rate. Leverage trades cash flow for higher cash-on-cash return when the spread between cap rate and borrowing cost is positive.
| Scenario | Cash Invested | Monthly Cash Flow | Annual CF | Cash-on-Cash |
|---|---|---|---|---|
| All cash | $165K | $631 | $7,569 | 4.6% |
| 20% down conventional @ 7% | $38K | $-247 | $-2,965 | -7.8% |
| 25% down DSCR @ 8.5% | $48K | $-321 | $-3,851 | -8.0% |
Properties don't always trade at the median. Lower-priced units typically offer higher cap rates but harder operations; higher-priced properties tend to compress cap rates while attracting better tenants. All-cash assumptions below:
| Tier | Price | Rent/Mo | NOI/Yr | Cap Rate | Monthly CF |
|---|---|---|---|---|---|
| Below median (~75% price) | $124K | $893 | $5,616 | 4.5% | $468 |
| At median | $165K | $1,050 | $6,213 | 3.8% | $518 |
| Above median (~125% price) | $206K | $1,208 | $6,819 | 3.3% | $568 |
Cap rate is just one piece. Real estate returns come from four sources: cash flow, appreciation, principal paydown, and tax benefits. Assuming 20% down conventional financing at 7% and a 5-year hold at Youngstown's historical appreciation rate of 1.5%:
On a $33K down payment, that's a 23.7% total ROI over 5 years (not annualized). Tax benefits from depreciation are additional and depend on your personal tax bracket.
Automated checks against the underlying data — surface only the risks that actually apply to Youngstown, not generic boilerplate:
Pre-filled with Youngstown medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Youngstown.
Youngstown, OH has a population of 62,000 and has been growing at -0.5% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $165,000 paired with median rents of $1,050/mo produces an estimated cap rate of 4.59%.
Property taxes at 1.6% are notably high and represent a significant drag on cash flow — model this expense carefully, as it can make or break a deal. The vacancy rate of 8.5% runs above average, which increases cash flow volatility and warrants conservative underwriting.
At a price-to-income ratio of 5.4x, homes cost about 5.4 times the local median income of $30,800. This moderate ratio indicates a balanced rent-vs-buy market. Home values have appreciated at roughly 1.5% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Youngstown presents moderate opportunities. Cap rates near 4.59% mean deals need careful sourcing — look for value-add rehabs or emerging neighborhoods where rents are climbing.