Toledo is a mid-sized town in the heart of the Midwest, and it is home to approximately 280,000 residents. However, the entire Toledo metropolitan area is much larger and has more than 500,000 residents. Many who live in Toledo enjoy an excellent lifestyle that includes ample culture, job opportunities and more. If you are preparing to relocate to Toledo soon, you understandably want to know how your life may change. By learning more about what Toledo offers its residents, you can be prepared for your transition.
Mortgage Options in Toledo
Buying a home is common in Toledo because of the affordable housing prices. For many home buyers, applying for a new home mortgage is a critical step in the process. If you are preparing to apply for a home mortgage, you may have access to an extensive range of loan programs to choose from. These include a conventional loan, a jumbo loan, an FHA loan and a VA loan, to name a few. With both fixed and adjustable interest rates and with terms up to 30 years, it is possible to set up the ideal mortgage payment structure for your needs.
The Average Price of Toledo Homes
The cost of housing is understandably a top concern for anyone who is thinking about moving to a new location, but you will have no need to worry when relocating to Toledo. Toledo housing is very affordable in comparison to the national average. The U.S. Census Bureau states that the median house value is $78,200, and there are plenty of housing options available to choose from that are both higher and lower than this value. Those who choose to rent a Toledo home will also have affordable housing options. The median rent for housing in this town is $643 per month.
Income Levels in Toledo
Because housing costs are affordable in Toledo, you may expect personal income levels to be on the lower side. This is true for many people. The per capita income in Toledo is approximately $19,000 per year. The Toledo household income average is $33,687. In addition, approximately one in four residents lives below the poverty line. Nonetheless, there are many higher-paying jobs in the area, making is easy for those with skills and an education to take advantage of the low cost of living in Toledo and to enjoy an amazing life.
The Toledo Public School System
For those who are relocating to Toledo with a family, the quality of education available in Toledo schools is a concern. Some make the decision to send their children to private schools, and others attend public school inside the Toledo City School District. This is the fourth largest school district in the state, and it educates more than 35,000 students each year. There are dozens of schools in this district located across the city. Notably, none of the schools are nationally recognized, but the district does strive to provide a high level of education to its students.
Crime Statistics for Toledo
Some people who are preparing to move to Toledo are concerned about crime. It is true that crime is an issue in Toledo, and it ranks higher in all areas of property-related and violent crimes than the national averages. This includes in categories such as rape, homicide, assault, burglary, theft and more. However, as you might imagine, crime in the inner city area is much more significant than in the outlying areas and suburbs. Some of the safer communities that you can consider living in include North McCord Road at West Central Avenue, Flanders Road at West Alexis Road, Corey Road and Springbrook Drive and others.
Some of the more common reasons why individuals move to Toledo include being closer to family and taking advantage of job opportunities. Regardless of the lure that is pulling you to Toledo, you can see that you can enjoy great things when you live here. If you are preparing to relocate, take the first step to get pre-qualified for a mortgage with a bank or broker. Then, reach out to a real estate agent to learn more about the best areas of town to live in.