This is the next article in my discussion on investing in Dayton, Ohio real estate. My last article discussed how Dayton is dealing with its “opioid epidemic.” I wrote on that topic due to the fact that, despite a certain level of misperception, our city is making strides in dealing with the issue. Understanding how such matters are being handled is important for those considering where to invest. In this article I will discuss another important topic – our city’s job market and business climate. If you require assistance then contact me today to speak with a real estate agent.
Dayton’s strong job market is due to Wright Patterson Air Force Base as well as a strong business climate
It was recently reported that Dayton’s unemployment was a low 3.7 percent in April of 2019. The current job market is quite strong, as it was reported earlier this month that there are more than 18,000 job openings in the Dayton area. Dayton’s strong economy is a reason why our region has begun to experience population growth, as opposed to decline. These trends bode well for the area’s future.
Wright-Patterson Air Force base is the largest employer in the Dayton region. In 2010, the base had 27,406 military, civilian, and contract employees. Recent expansions and increased activity have increased this employment. Among these expansions are a $182 million project which was passed in 2018, a recent announcement that the base will host the F-35 HPSI Organization, and more. Also, due to Dayton’s unique geography, many companies are choosing to make our area a logistics and distribution hub. A few examples of this include pet retailer Chewy bringing roughly 600 jobs to the area, footwear maker Crocs moving its distribution center to Dayton, and more. In other words, our strong job market is due to the increasing importance of the Air Force Base as well as our currently strong business climate.
Why Dayton’s job market can remain strong going forward
When considering a real estate investment, it can be important to pick an area which has a competitive advantage. I believe the things drawing jobs to Dayton, which I just explained above, are “durable” in nature. First, as to Wright-Patterson Air Force Base, it is important to remember that Ohio is an important political “swing” state. Given the electoral importance of Ohio, many would consider it unlikely that Congress would reduce funding to the base. Second, the types of companies I mentioned are choosing Ohio due to its geography, and not due to tax incentives or other perks which can be easily replicated. Given the fact that location cannot be replicated, I feel our area has an advantage for those who are seeking a logistics/distribution hub.
If you are considering investing in Dayton, Ohio real estate then contact me today to speak with a realtor. In addition to working with investors (both in state and out of state), I also own multiple rental properties myself. I pride myself on providing quality service and I am ready to assist you. I also service the areas of Beavercreek, Centerville, Cincinnati, Clayton, Englewood, Oakwood, Fairborn, Harrison Township, Huber Heights, Kettering, Miami Township, Miamisburg, Riverside, Springboro, Trotwood, Vandalia, Washington Township, West Carrollton, and Xenia.
Note & Disclaimer: Nothing in this article, or on this website should be construed as investment or financial advice. The opinions shared on this website are the personal, and not professional, opinion of the author and are not associated with Keller Williams Advisors. Any investment decisions should be made after consulting with a certified financial/investment professional.