Updated 2026 · Based on median market data for Toledo, OH
The median monthly rent in Toledo, OH is $920, translating to $11,040 in annual gross rental income per unit. The rent-to-price ratio is 0.68% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Toledo spend approximately 29% of the local median household income ($38,600) on rent. This is within the healthy 25-30% range, indicating rent is affordable relative to local incomes. There may be room for moderate rent increases, especially for updated or well-located units.
The vacancy rate in Toledo is 7.5%. This is above the national average and warrants careful tenant screening and marketing. Budget for longer vacancy periods between tenants and consider offering competitive amenities or pricing to reduce turnover. Population growth of -0.3% annually means demand is flat to declining — focus on properties in the strongest neighborhoods.
Toledo's GRM (price divided by annual rent) is 12.2x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $920/mo, a single-family rental in Toledo generates approximately $11,040 in gross annual income. After accounting for 7.5% vacancy ($828 lost), property taxes of $2,228, insurance (~$540), and maintenance (~$540), the estimated NOI is $6,905 per year, or $575/mo.