For anyone living in Dayton long-term, it’s a smart financial move to carefully consider the pros and cons of renting vs. owning in the Gem City.
The choice to buy or rent is a personal one, not least because so many individual circumstances inform what’s the right thing to do.
For some locals, homeownership feels out of reach anyway, due to money constraints. For lower income families, renting feels like the default option, rather than a conscious choice.
The good news is, Dayton remains one of the best and easiest places to buy a home in Ohio, should a family desire to do so. Yes, home prices have gone up in the last few years; that’s the general way of real estate. But, Dayton’s housing market has always been slightly tamer when compared to the rest of Ohio.
According to Dayton Realtors, the median residential sales price was $250,000 in December. — much lower than the national median. Within Ohio, Dayton’s median home price is a bargain compared to Cincinnati and Columbus, at $320,000 and $325,000, respectively.
The average sales price in December was $290,366. That’s a favorable point for Dayton.
Homebuying programs
As to why it’s one of the easiest? The Ohio Housing Finance Agency has recognized the home ownership challenges and offers special programs for first-time buyers with credit scores of 640 or higher for conventional, USDA or VA loans. Down payment assistance programs can help reduce the initial financial burden, making homeownership accessible to more residents.
A local Realtor is going to be the best source when it comes to sourcing home buying programs and eligibility.
Why do governments put programs in place to help people buy homes? Because home ownership represents stability. People who own their homes tend to keep them maintained better than house renters. Homeowners help stabilize the economy. Homeowners are vested in the community.
These are just some of the reasons. If you qualify, these programs specifically for Dayton home buyers make it easier to get on the real estate ladder.
For those who take the leap and jump on the ownership rung, there are other benefits. Rising home prices in Dayton are a boon for owners.
According to Dayton company ManCo Property Services, average home values jumped from around $53,000 just a few years ago to approximately $150,000-$170,000 by early 2026 — representing more than a tripling in value. NeighborhoodScout data from 2021 shows annual appreciation rates averaging 6.44% over a 10-year period, with some years seeing appreciation as high as 9.36%, which outperformed 73.57% of U.S. cities and towns.
Just be reasonable about what to expect.
Real estate heats up and cools cyclically, and there are no guarantees about what your home will be worth down the road. Still, viewing the data from a broad perspective indicates that overall, Dayton’s home values are moving upward. That equals appreciation, and it equals equity, both things you don’t get from renting in Dayton.
Renting is appealing to a lot of locals, and it might be advantageous long-term, or just until having the money for a down payment.
Depending on the neighborhood, trnters couple pay anywhere from $550 for a modest one-bedroom in Forest Ridge-Quail Hollow to $1,550 for a one-bedroom in South Park, according to Rent.com. (Figures are estimated, as they fluctuate daily.)
Downtown Dayton sits at about $1,239 for the same sized unit, reflecting the premium for urban convenience. As of July 2025, Apartments.com reported the average Dayton rent at $980 per month, 40% lower than the national average of $1,637. Prices have changed since then, but not by a huge amount. In fact, recent trends show rental prices actually declining slightly.
Apartment List reported the median rent at $1,009 in January 2026, down 0.1% year over year and falling 1.5% month over month.
Renting vs. buying
From a money standpoint, renting will save you from spending on home maintenance and repairs, but that’s the case everywhere, not just Dayton. Owning will get you equity and appreciation. You could then leverage that to invest and actually start building wealth for you and your family.
According to Property Focus data in January, Dayton currently has 117,123 properties with more than 50% equity and 64,023 homes fully paid off. That shows the way homeownership can build long-term wealth even when rents are quite affordable.
The bottom line is this: Weigh your options. Dayton has a growing real estate market now, and indicators are showing positive data that could mean long-term favorable financial outcomes for your family.
If other factors make it seem like renting is your right move for now, then Dayton’s reasonable rentals at a wide range of price points are worth considering.
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