Average Rent in Toledo, OH↑ Rents rising 6.4% YoY

Toledo, OH has rental prices ranging from $822/month to $1,558/month in 2027, depending on unit size. The typical 1-bedroom apartment rents for $875/month — 37% below the national average of $1,400/month. With a median household income of $63,749/year, spending $875/month on a 1-bedroom represents 16% of gross income — within the recommended 30% threshold.

How Toledo Compares

With an average 2-bedroom rent of $1,145/month, Toledo ranks #12 most expensive of the 72 cities tracked in Ohio — pricier than 69% of all US cities in our data.

The Toledo Rental Market

The Toledo, OH area has a population of about 602,977 and 36% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Toledo, OH have risen by $69/month (6.4%) over the past year, from $1,076 to $1,145. This modest growth is consistent with broader inflationary trends seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Toledo, OH without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $35,000. The local median household income of $63,749 exceeds that threshold by $28,749, making Toledo relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Toledo, OH is $131,766, giving a price-to-rent ratio of 9.6. The break-even point between renting and buying is roughly 10 years — renting offers more flexibility for shorter stays, while buying makes more sense for long-term residents.

Neighborhoods

Home values — and by extension rent levels — vary significantly across Toledo's neighborhoods. Among the highest-value areas are Onyx ($42,782 median home value), North River ($46,392 median home value), Roosevelt ($51,962 median home value). Rental prices typically follow home value patterns, with premium neighborhoods commanding higher rents than outer areas. Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.

Is Toledo, OH Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Toledo?

Break-even analysis and mortgage estimates based on local market data.

Living in Toledo

Cost of living, job market, crime rates, and moving cost estimates.