Miami County

Miami County prices at a median of $268,300 with median rent of $1,340 produce a gross rent-to-price ratio of 5.99%, and the model spits out a cap rate of 3.9%. At 6.85% financing with 20% down, the math is blunt: estimated monthly cash flow is negative $536, and cash-on-cash comes in at -10.42%. That is not a cash-flow market at these numbers. The appreciation score of 75 out of 100 tells the other side of the story, with home prices up 2.49% year-over-year. Miami County sits firmly on the appreciation end of the spectrum, offering price growth in a modestly affordable package (affordability index 73) but asking investors to carry a monthly deficit to get there.

The negative cash flow at current rates makes this county a poor fit for a pure cash-flow buyer who needs the property to service itself from day one. The appreciation buyer or patient buy-and-hold operator who can absorb a monthly carry and is betting on continued price growth has a case here, particularly if they have reserves to cover the deficit while equity builds. A value-add operator hunting forced appreciation through renovations could also find opportunity given the $268,300 median, which leaves room to buy below median if the deal is sourced right. The stability score of 50, however, is the flag for anyone relying on consistent rental income to weather the carry cost, and that number deserves weight before committing.

The taxInsurance data materially shapes the carry story. Monthly property tax and insurance together run approximately $400, which is built into that $469 estimated expense figure. The state-average effective property tax rate of 1.56% is flagged as high, and at that level it earns its own line on your underwrite. That rate is a state-average estimate and actual county and township rates in Miami County may differ, so pull the auditor's data for any specific parcel before closing. At 1.56%, on a $268,300 purchase you are looking at roughly $4,185 in annual taxes alone. That is not a rounding error; it is the difference between a deal that barely pencils and one that clearly does not.

Looking at the five neighboring counties, Miami's rent-to-price ratio of 5.99% is roughly in the middle of the pack. Columbiana County is the outlier on the high end at 6.53% gross yield with a median price of only $153,700, making it the most cash-flow-accessible option of the group for a buyer prioritizing current income over appreciation. Muskingum County also beats Miami on yield at 6.37% with a $202,500 median. On the other end, Warren County sits at $395,975 median with a 5.86% ratio and an overall score of 63, meaning you pay significantly more for a worse composite score. Butler County at $302,700 and a 5.97% ratio is nearly identical to Miami on yield but priced higher, with a one-point edge on overall score. Clermont County is in the same yield band at 5.82% but commands a $316,500 median. Miami's overall score of 64 ties Columbiana and Clermont and beats Muskingum and Warren by a point or two, so it is not a standout on composite ranking within this peer group.

Choose Miami County over its neighbors when the appreciation thesis is your primary investment rationale and you want a lower entry price than Butler, Clermont, or Warren while still participating in the broader southwest Ohio growth corridor. Columbiana and Muskingum will outperform on gross yield and immediate cash flow, so if covering the mortgage from rent is a hard requirement, those markets are better suited. Miami makes the most sense for an investor with capacity to carry the deficit, confidence in the appreciation score of 75, and a multi-year hold horizon where today's negative carry becomes less relevant as rents grow and the purchase basis stays fixed.