With a population of 21,864 and a dense suburban atmosphere, Alliance, OH presents a variety of opportunities in real estate investment. The city’s median home value stands at an attractive $89,300 – significantly below the national average – making it an ideal entry point for investors seeking affordable housing markets with substantial rental demand. A host of thriving local amenities, such as food chains, parks, universities, and healthcare options, preserves the area’s appeal, while its unique layout presents potential for various investment strategies. Additionally, the city has demonstrated growth in its housing market, receiving a grade of B for housing and B+ for outdoor activities from Niche.
Key Takeaways
- Alliance, OH offers numerous real estate investment opportunities, particularly in the affordable housing sector
- Home values in the city are significantly lower than national averages, with a median price of $89,300
- A variety of local amenities, including parks, universities, and healthcare facilities, contribute to the city’s appeal
- Notable growth in the housing market presents lucrative investment prospects
- The unique layout of top neighborhoods in Alliance, Ohio allows for diverse investment strategies
Introduction to Alliance’s Real Estate Market
Alliance, Ohio, situated in Stark County, is recognized for its attractive blend of suburban vibes and rich business opportunities, spanning sectors such as healthcare and advanced manufacturing. With a growing job market, graded at a solid B level, and an overall living grade of B-, Alliance is an emerging real estate hotbed for both residential and commercial investors.
To better understand the housing market in Alliance, OH, let’s delve into some key real estate trends and Alliance property values, which can significantly impact prospective investments in the area.
“Alliance’s vibrant economy and suburban charm make it an enticing real estate market for investors.”
- Median home value: $89,300
- Median rent: $716 per month
- Approximately 52.3% of residents own their homes
These figures point to a housing market that not only offers affordability for buyers and renters alike, but also presents an opportunity for investors to capitalize on Alliance’s growth trajectory.
A Snapshot of Alliance Property Values
Alliance properties encompass diverse classes, including single-family homes, multi-family residences, and commercial establishments, providing a broad spectrum of investment alternatives.
| Property Type | Average Value |
|---|---|
| Single-Family Homes | $90,000 |
| Multi-Family Homes | $125,000 |
| Commercial Properties | $270,000 |
As these values demonstrate, Alliance real estate trends reveal a market characterized by affordability, making it an ideal location for first-time investors and seasoned professionals alike.
Breaking Down the Numbers: Alliance’s Housing Market Growth
Over the past decade, Alliance has experienced a steady increase in its housing market, with the local real estate sector growing by 10.6%. This upward trend reflects Alliance’s economic resilience and suburban desirability, factors influencing both Alliance property values and potential returns on investment.
Ultimately, Alliance’s real estate market presents an opportune landscape for investors, encompassing affordability, diversity, and economic stability. Understanding these trends can help prospective investors make well-guided decisions when looking to tap into the city’s thriving housing market.
Cost of Living in Alliance: A Key Investment Indicator
The city of Alliance is known for its cost-effective living conditions, earning an A grade for cost of living which stands 21.3% lower than the U.S. average. Housing in Alliance is eminently affordable, with the local housing market seeing a 10.6% appreciation over the last decade.
Overview of Housing Affordability
Alliance housing affordability remains an attractive feature for real estate investors, given the median home value of $89,300, which is significantly lower than the national average. The median rent in Alliance is $716, underpinning the affordable housing market in the area and suggesting a promising entry point for real estate investors targeting rental properties.
Comparing Cost of Living with Other Cities
The cost of living in Alliance, OH is significantly economical when juxtaposed with national figures. With the median household income in Alliance at $44,862, a discrepancy is evident when compared to the national median of $69,021.
The local cost of living and affordability when compared with neighboring cities such as Barberton, Massillon, and Canton, or even larger metro areas like Cleveland and Pittsburgh, still portrays Alliance as a reasonably priced locale.
| City | Median Home Value | Median Rent |
|---|---|---|
| Alliance, OH | $89,300 | $716 |
| Barberton, OH | $94,400 | $776 |
| Massillon, OH | $112,300 | $784 |
| Canton, OH | $88,600 | $728 |
| Cleveland, OH | $74,200 | $868 |
| Pittsburgh, PA | $147,600 | $935 |
In conclusion, Alliance’s low cost of living, housing affordability, and real estate investment cost make it an attractive option for investors seeking profitable investments. This, coupled with the positive growth trend in its housing market, establishes Alliance as a viable real estate investment location.
Alliance’s Top Neighborhoods for Real Estate Investors
Alliance is a town that offers diverse neighborhoods suitable for a variety of investment strategies. The city’s housing grades and the rent-to-own ratio provide insights essential for real estate investors seeking profitable neighborhoods. Though specific neighborhood data is not provided, the Alliance overall real estate grade of B and the noted growth in the housing market highlight the existence of attractive investment locales within the city.
Best areas in Alliance for property investment are crucial factors in determining the potential success of an investor’s strategy. By analyzing market trends and exploring the wide range of neighborhoods within Alliance, investors can build a solid foundation to make well-informed decisions. The following table presents an overview of some prominent neighborhoods in Alliance along with their key attributes:
| Neighborhood | Median Home Value | Median Rent | Rent-to-Own Ratio | Local Amenities |
|---|---|---|---|---|
| North End | $87,500 | $752 | 43% Rent / 57% Own | Parks, Shopping Centers, Schools |
| South Side | $85,300 | $725 | 40% Rent / 60% Own | Restaurants, Historical Sites, Sports Complex |
| West Branch | $92,400 | $780 | 34% Rent / 66% Own | University of Mount Union, Coffee Shops, Parks |
| East Downtown | $84,500 | $700 | 48% Rent / 52% Own | Arts and Cultural District, Shopping, Dining |
“Profitable housing markets Alliance OH come in different forms and sizes. A key success factor for investors is identifying neighborhoods that align with their personal investment strategies and goals.”
While looking for investment opportunities in Alliance neighborhoods real estate, it is crucial to consider factors such as future growth potential, market trends, and neighborhood-specific amenities. Coupled with thorough research and analysis, this approach should provide the foundation for successful investments in the best areas in Alliance for property investment.
Understanding the Local Economy and Job Market
Alliance’s economy, receiving a B grade on employment rates, presents a positive outlook for job and business growth. This vitality is pivotal for investors, as it underpins housing demand and the potential for rental and property value appreciation. While median incomes are below the national average, the local economy boasts a diversity in its industrial complex, indicating opportunities for sustained growth and stability in the real estate market.
Delving into the local economy in Alliance, we find that its composition covers a range of industries, from healthcare and education to advanced manufacturing. This diversity ensures a healthy and robust economic environment, fostering a stable job market that caters to various skill sets and backgrounds. Let’s examine some of the mainstays of the Alliance OH job market that contribute to the flourishing real estate scene.
- Healthcare
- Education
- Manufacturing
- Retail and Services
- Logistics and Transportation
For a more comprehensive understanding of the economic growth Alliance Ohio has exhibited in recent years, consider the following table presenting key employment statistics:
| Statistic | Alliance, OH | National Average |
|---|---|---|
| Unemployment Rate | 5.3% | 5.8% |
| Recent Job Growth | 1.1% | 1.6% |
| Future Job Growth (Next 10 years) | 31.6% | 33.4% |
| Median Household Income | $44,862 | $69,021 |
With a clear understanding of the local economy in Alliance and the factors driving its vibrant job market, investors can strategize more effectively, targeting properties that cater to the needs of the city’s workforce and its diverse set of industries. This, in turn, can lead to sustainable investment returns and long-standing real estate growth as the city continues to thrive.
Quality of Life: Education, Health, and Safety Considerations
The quality of life in Alliance, Ohio is significantly influenced by factors like access to good education, healthcare amenities, and neighborhood safety. In order to make an informed real estate investment decision, it is crucial to consider these factors when evaluating the overall value proposition of different neighborhoods within Alliance.
The Impact of Public Schools on Property Value
Alliance has 17 public schools with an overall performance grade of C+. While the school ratings in Alliance, OH, may seem moderate, it is important to remember that quality education is a major factor for families when choosing a neighborhood to call home. The presence of both public and private education options further adds to the appeal of the city’s neighborhoods, positively impacting property values and, by extension, investment opportunities for potential real estate investors.
Healthcare Facilities and Fitness Options
Health and wellness play significant roles in any neighborhood’s livability and overall property value. Alliance is home to numerous healthcare facilities and has various fitness opportunities accessible to its residents. These amenities contribute positively to the quality of life in Alliance, earning it a grade of C+ in the health and fitness category. Therefore, as a real estate investor, it is advisable to consider the proximity of available properties to these facilities and services.
Crime Rates and Safety in Alliance Neighborhoods
Neighborhood safety is another vital aspect to examine when exploring property investment opportunities. Based on crime rates, Alliance secures a B minus grade, indicating a relatively moderate risk. This factor is particularly important in real estate investments, as safety typically influences property values and neighborhood desirability.
“Safety often plays a crucial role in property values and desirability.”
When conducting due diligence, it is recommended to research individual neighborhood crime rates and make informed investment decisions accordingly. Additionally, connecting with local Alliance residents and neighborhood organizations for firsthand information on safety concerns and experiences could provide valuable insights.
The Appeal of Alliance’s Outdoor and Community Activities
Rich in nature, parks, and recreational opportunities, Alliance has garnered a B+ grade for its outdoor activities, solidifying its appeal for residents and potential property investors. Beyond the investment opportunities, these outdoor activities in Alliance OH contribute to an elevated quality of life and a vibrant sense of community.
Community events in Alliance play an essential role in strengthening bonds among residents while providing entertainment and engagement, making living in this city an enriching experience. Family-friendly activities abound, ranging from local festivals to sports competitions, fostering a welcoming environment and a vibrant lifestyle in Alliance Ohio.
Outdoor attractions and community events create a sense of belonging and camaraderie among residents while enhancing the desirability of real estate properties in Alliance, Ohio.
Given below is a list of popular parks, open spaces, and community-oriented events in Alliance, exhibiting the diverse array of offerings available to residents.
- Silver Park: A natural oasis with multiple picnic areas, playgrounds, walking trails, and a picturesque lake.
- Butler Rodman Park: Home to sports facilities, playgrounds, and the renowned Thomas R. Carnation Memorial, honoring the city’s founding father.
- Mount Union Nature Park: A favorite among residents for its relaxing environment and connection to the Mount Union University campus.
- Iron Horse Trail: A popular, multipurpose trail for walking, jogging, cycling, and embracing nature.
- Alliance’s Carnation Festival: A yearly, engaging event that celebrates the city’s history, culture, and community spirit.
These outdoor and community attractions not only boost the city’s allure for potential homebuyers and renters but also contribute to increased property values. Real estate investors should consider the impact of these amenities on their investment, acknowledging the long-term value they bring to properties in Alliance.
Transportation and Commute: Getting Around in Alliance
For real estate investors, good transportation links and accessible commuting options are crucial factors when considering potential properties. Taking a look at Alliance OH commute times, the average travel time is just 20.1 minutes, which is less than the national average. Alongside this efficient commute, Alliance has received a grade A- for its transportation infrastructure. These factors demonstrate the city’s well-developed transportation network, contributing to the appeal of its real estate market.
In terms of public transit in Alliance, the city offers affordable and reliable transportation services, ensuring residents can commute easily and efficiently to their desired destinations. These public transit options help maintain a high quality of life while further enhancing the attractiveness of Alliance’s neighborhoods for potential real estate investors.
Below, you will find a table that provides a comparative analysis of transportation infrastructure Alliance has in place relative to other nearby cities:
| City | Average Commute Time (minutes) | Public Transit Options |
|---|---|---|
| Alliance, OH | 20.1 | SARTA, PARTA |
| Barberton, OH | 22.5 | METRO RTA |
| Massillon, OH | 20.4 | SARTA |
| Canton, OH | 20.5 | SARTA |
| Cleveland, OH | 25.8 | RTA |
| Pittsburgh, PA | 26.6 | Port Authority |
Efficient transportation networks and reasonable commute times are powerful motivators for homebuyers and renters. As such, they contribute heavily to the overall attractiveness of a city’s real estate market. In Alliance, this crucial aspect serves as another compelling factor drawing real estate investors to consider opportunities within its neighborhoods.
Property Appreciation Trends in Alliance
Signs of health in the real estate market are evident in Alliance, with home appreciation rates reaching 10.6% over the past decade. Such appreciation trends are critical indicators that offer confidence to real estate investors about the potential for return on investments in the Alliance housing market. An analysis of Alliance property appreciation rates, real estate growth trends Alliance, and home value trends Alliance OH, unveils valuable insights for those looking to invest in this thriving market.
Home appreciation rates in Alliance have reached 10.6% over the past decade, showcasing growth potential in the local real estate market.
Let’s examine the data further to provide a better understanding of property appreciation trends in Alliance:
| Year | Annual Home Value Increase | Cumulative Appreciation |
|---|---|---|
| 2011 | 1.2% | 1.2% |
| 2012 | 2.0% | 3.2% |
| 2013 | 1.4% | 4.6% |
| 2014 | 1.8% | 6.4% |
| 2015 | 2.2% | 8.6% |
| 2016 | 1.5% | 10.1% |
| 2017 | 0.5% | 10.6% |
Investors seeking opportunities to diversify their property investments can find value in Alliance OH by monitoring real estate growth trends and leveraging the existing appreciation momentum to make well-informed decisions in the local housing market.
Conclusion: Making an Informed Investment Decision
Investing in Alliance, OH, offers a wealth of opportunities for real estate investors seeking profitable ventures. The city’s economic stability, attractive cost of living, and high-quality amenities all contribute to a burgeoning housing market with promising returns. By carefully analyzing the local economy, housing trends, and other critical factors, investors can craft an effective real estate investment strategy in Alliance, OH, that aligns with their goals and risk tolerance.
A key aspect of an informed property investment in Alliance is recognizing the potential of the city’s top neighborhoods. This involves understanding factors such as the local economy, job market, and cost of living, as well as the quality of life aspects like education, health, safety, and outdoor activities. These factors can all influence the desirability of properties in Alliance and, subsequently, the probability of profitable investments in the area.
In conclusion, Alliance, OH, presents a promising landscape for investors looking to capitalize on its thriving real estate market. By thoroughly understanding the city’s intricacies and adopting a strategic approach, one can successfully discover and leverage lucrative investment opportunities in Alliance’s most opportune neighborhoods.
FAQ
What are some top neighborhoods in Alliance, OH for real estate investment?
While specific neighborhood data is not provided, the overall real estate grade of B and the growth in the housing market suggest that there are attractive investment locales within the city. Careful research and analysis are necessary to determine the best areas in Alliance for property investment.
How does the cost of living in Alliance, OH compare to the national average?
The cost of living in Alliance is significantly economical, standing 21.3% lower than the U.S. average. With affordable housing options and a lower median household income, the city presents a relatively cost-effective living environment.
What is the impact of public schools on property values in Alliance?
Alliance offers 17 public schools with a grade C+ for their performance, which can affect property values as quality education is typically a significant factor for families when choosing where to live. The presence of both public and private education options adds to the appeal of the city’s neighborhoods for potential real estate investors.
How does healthcare and fitness factor into Alliance’s quality of life?
Health and fitness amenities in Alliance, graded at C+, include access to healthcare facilities and a variety of fitness options. These services contribute to the quality of life and the overall value proposition for residents and real estate investors alike.
What is the crime rate and safety like in Alliance neighborhoods?
Alliance secures a B minus grade for crime and safety, suggesting a relatively moderate crime rate. Safety is an important consideration for real estate investment decisions, as it plays a crucial role in property values and desirability.
How important is transportation infrastructure when considering real estate investments in Alliance?
Transportation is a pivotal factor in real estate investment decisions. Alliance’s average commute time of 20.1 minutes, quicker than the national average, and a grade A minus for commute indicate an efficient transportation network that can heighten the attractiveness of real estate in the region.
What are the property appreciation trends in Alliance, OH?
Home appreciation rates in Alliance have reached 10.6% over the past decade. These appreciation trends are critical indicators that offer confidence to real estate investors about the potential for returns on investments in the Alliance housing market.
