Toledo appears affordable relative to its own citywide benchmarks: median gross rent ($901/month) represents about 21.7% of median household income ($49,724/year), which is below the common 30% affordability threshold for rent. Median owner-occupied home value ($114,500) is roughly 2.3 times median household income, suggesting homeownership may be accessible for many residents, though actual affordability depends on individual circumstances, debt, and local costs not captured in citywide aggregates.
Toledo at a glance
What the default budget models
A one-person renting household begins with a modeled annual core-cost baseline of $25,812. It combines the ACS median gross-rent estimate with a uniform $1,250 monthly non-housing baseline. State income tax is excluded until a current official reference is approved; the calculator labels that limitation instead of guessing.
| 2024 ACS population estimate | 267,463 |
| 2024 ACS median household income | $49,724 |
| 2024 ACS median gross rent | $901 |
| 2024 ACS median owner-occupied home value | $114,500 |
| Derived one-way commute estimate | 21 minutes |
| State-tax treatment | Excluded — official reference pending |
| Rent-to-income reference | 22% |
The trade-off
Relative strength: Rent consumes ~22% of median income, below typical affordability benchmarks.. Watch closely: lower housing costs may reflect tradeoffs in job access, services, or neighborhood conditions not measured in citywide acs data..
Compare Toledo
Frequently asked questions
Is Toledo Ohio affordable for renters based on 2024 ACS data?
Yes, based on 2024 ACS 5-year estimates, Toledo’s median gross rent of $901 per month is about 21.7% of the median household income of $49,724 per year, which falls below the 30% threshold often used to gauge rental affordability. This suggests rent is generally affordable relative to citywide income, though individual experiences vary.
How does Toledo’s median home value compare to local income in 2024 ACS?
The 2024 ACS 5-year estimate shows Toledo’s median owner-occupied home value at $114,500, which is approximately 2.3 times the median household income of $49,724. This ratio suggests homeownership may be within reach for many residents, though mortgage eligibility, down payment requirements, and other debts affect actual accessibility.
Source ledger
Every production input below is retained with its publisher and dataset. The ACS figures are five-year estimates, not live listings or guarantees.
- PopulationU.S. Census Bureau · 2024 ACS 5-Year B01003
- Median household incomeU.S. Census Bureau · 2024 ACS 5-Year B19013
- Median gross rentU.S. Census Bureau · 2024 ACS 5-Year B25064
- Median owner-occupied home valueU.S. Census Bureau · 2024 ACS 5-Year B25077
- Commute-time distributionU.S. Census Bureau · 2024 ACS 5-Year B08303
Interpretation: The ACS 2024 five-year estimates generally summarize observations across 2020–2024. The commute number is a weighted midpoint estimate from table B08303. State income tax is not included in the modeled take-home result. Verify a current address, quote, commute, and tax situation before making a decision.