Moving to Toledo, Ohio? Toledo is a city of both historical and cultural importance, located on the shores of Lake Erie and bordered by the Maumee River. Established at the start of the 19th century, Toldeo was initially a fort constructed to protect the British from American territory.
The city became a central port on Lake Erie after the War of 1812. The city became home to industry, and particularly the automobile and glass industries, as the Industrial Revolution dawned. Due to the number of glass companies still headquartered here, locals refer to Toledo as’ The Glass Capital of the World.’ Sadly, the economy of Toledo is not quite as resilient as it once was due to the decline in US production.
The Glass City is still a wonderful place to live, despite its recent economic troubles. The city established several museums during the heyday of the great industry, such as the Toledo Museum of Art, which to this day still draws crowds of tourists. Industries other than manufacturing are increasing and bringing new employment to the area, such as education and healthcare.
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Once highly polluted, Lake Erie has been cleaned up and is now famous for boating and fishing. For family fun or a night in the area, concert halls and sports stadiums offer plenty of opportunities. In short, this lakeside town is a marvelous place to live! Toledo welcomes you no matter the reason for coming here.
The city of Toledo is a city that many have spoken of, but there are few who know a lot about it. Situated on the westernmost point of Lake Erie, inside the city limits, The Glass City has a population of around 300,000 and in the nearby neighborhoods has another 300,000. Known as a major automotive and glass manufacturing hub for its industrial history, Toledo now boasts a growing number of white-collar workers. These days, some of the most popular sectors include solar energy and healthcare.
Toledo is a tiny “sister city” to these much-urbanized areas, located about an hour south of Detroit and less than two hours away from Cleveland. However, since there is plenty to enjoy in Toledo itself, without traveling far from home, people can have a lot of family fun. Toledo is known for both lower salaries and an affordable cost of living and is vulnerable to the economic cycles of American production. You’ll find appealing sports, jobs, and homes from which to choose for those moving here.
The Toledo housing market is doing well generally, according to Zillow, but is held back by a high vacancy rate. Zillow estimates that since more homeowners are down on their mortgages in Toledo than the state median, this will get worse.
There are plenty of homes on the market, on the other hand, so prospective buyers have plenty of choices to choose from. The median home value is a very manageable $69,700 for those looking to buy. Just about 48 percent of Toledo residents chose to purchase, which is a lower rate than the Ohio and national averages, considering the low home prices.
Tenants should expect to pay around $700 a month, which is considerably lower than the national average for rent. Rents are on the increase, however. Probably this is because of the higher rate of foreclosure against homeowners, who raise rental demand. Purchasing a home is possibly the best choice for those with good credit and some money in the bank.
Toledo is a blue-collar town with blue-collar concerns, generally speaking. This town once had a significant impact on the Midwestern economy, but as manufacturing deteriorated nationally, it has seen better days. As of 2019, 1 percent or more of the unemployment rate is consistently higher than the national average. For those who have the right skills, though, there are still plenty of prospects. For example, at the newly expanded Jeep factory, Libbey, Toledo Molding & Die, Heidtman Steel Products Inc, or Owens Corning, those who work in manufacturing would be able to find a job.
You can see an opportunity at the University of Toledo, which has taken advantage of federal grants if you have an interest in ‘green work’ or environmental stewardship. Ohio’s Mercy College and Owens Community College call Toledo home as well. Universities inevitably generate a range of jobs, from professors and administrators to foodservice and janitorial workers, all the way down. Toledo Public Schools ranks among the top 10 employers in Toledo.
Overall, in line with the expression that “a good wind lifts all sails,” Toledo is experiencing a renaissance. Like much of America, it is experiencing an improving economy and an increased rate of labor participation. In recent years, young people who graduate from college and join the workforce may remain in Toledo more often, rather than finding jobs in other major cities. Many towns have had years of boom and bust.
Toledo’s general cost of living index is 77.5/100, mainly due to the low cost of housing. This index means that Toledo is a less expensive place to live than other areas of the country; relative to the 87.7/100 cost of living index in Ohio, it is also less expensive. Utilities, transport, and miscellaneous costs are about the same as the national average, but the costs of just about anything else are much less costly in Toledo.
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