1st Advantage MortgageFor Canton, OH rentals, the DSCR test compares rent to the full payment. The Census medians that frame it are $850 rent, $97,800 value and $1,227 in yearly taxes.
Canton rents, values and tenants
Median gross rent in Canton: $850, about 18% below the Ohio median of $1,034. Median owner-occupied home value: $97,800, well below the Ohio median of $214,800. Those are citywide medians, so an individual address can sit well on either side of them. A quick screen: twelve months of Canton median rent over its median home value equals 10.4%, a higher-yield profile than most markets in this region. Use it to compare markets, then replace it with real rent evidence for the address.
| Indicator | Ohio | Canton | Difference |
|---|---|---|---|
| Persons per household | 2.37 | 2.31 | |
| Share in 2-4 unit buildings | 7.9% | 11.4% | +44% |
| Share of homes detached | 68.8% | 68.9% | +0% |
| Long commuters, 45 min plus | 10.8% | 6.9% | -36% |
| Degree holders, age 25+ | 31.5% | 16.4% | -48% |
| Renters paying 30%+ of income | 45.9% | 47.8% | +4% |
| Units sitting vacant | 8.1% | 13.4% | +65% |
| Typical construction year | 1970 | 1947 | |
| Annual rent divided by value | 5.8% | 10.4% | +81% |
| Households that rent | 32.8% | 51.3% | +56% |
| Tax as a share of home value | 1.31% | 1.25% | -5% |
| Annual property tax bill, median | $2,822 | $1,227 | -57% |
| Household income, median | $71,389 | $43,188 | -40% |
| Typical owner-occupied value | $214,800 | $97,800 | -54% |
| Residents (Census estimate) | 11,810,293 | 69,755 |
Renters occupy 51.3% of Canton's occupied homes, well above the Ohio median of 33%, so tenant demand is deep and investors compete mainly on condition and location. The median household brings in $43,188 (well below the Ohio median of $71,389), with 48% of renters paying 30 percent or more of income toward rent.
Housing stock and vacancy in Canton
About 69% of Canton's housing is detached single-family, which means a typical rental purchase is a house with its own roof, yard and repair schedule. The typical home dates to 1947, which puts inspection, insurance on older systems and rehab cost near the top of the checklist.
Canton reports 13% of units vacant and a rental vacancy rate of 3.2%, a measure of how quickly a listed unit might lease.
Reading Canton as an investor
At 10.4% gross, Canton sits toward the higher-yield end of the markets we track, which helps the ratio but can signal neighborhoods where condition and turnover need close inspection. With homes this old, a pre-offer inspection is not optional in Canton. Renter-heavy markets like Canton favor investors with a clear tenant profile, whether workers, students or families.
The payment side of the Canton ratio
Homeowners in Canton paid a median $1,227 in real estate taxes, well below the Ohio median of $2,822, an effective rate near 1.25% of home value against 1.31% statewide. Set beside the median rent, the tax alone consumes about 12% of annual rent.
County-level hazard data from FEMA (National Risk Index 1.20) shows Stark County with relatively moderate overall risk and hail (relatively high), lightning (relatively high) and ice storms (relatively high) at the top of the list.
| Hazard in Stark County, FEMA index | Level |
|---|---|
| Winter weather exposure | Relatively High |
| Ice storms exposure | Relatively High |
| Lightning exposure | Relatively High |
| Hail exposure | Relatively High |
| Social vulnerability score | Relatively Low |
| Annualized loss estimate | Relatively Moderate |
| Composite risk | Relatively Moderate |
Price the insurance before you price the offer: a landlord quote for the Canton property, plus flood cover where the map requires it, goes into the payment your rent is divided against.
Running the numbers in Canton
Try the math at the medians. With rent at $850 and taxes near $102 a month, a 1.00 DSCR leaves $748 for everything else in the payment, a 1.20 ratio leaves $606, and a 1.25 ratio leaves $578. Any real property will differ, but the exercise shows how little room insurance and dues can take.
Landlord and short-term rental rules in Canton
Before you underwrite a Canton rental, confirm with city hall and Stark County whether landlords must register, pass an inspection or hold a permit, especially for stays under 30 days, because those rules can change what income a lender will count. State tax treatment of short stays, as it applies to Canton. Ohio's lodging tax covers transient guests who rent for fewer than 30 consecutive days, including Airbnb and VRBO style rentals, and counties may levy an additional lodging tax that operators register for and file under that county's rules.
For a Canton lease, the Ohio deposit rule is No statutory cap, as set out in Ohio Rev. Code § 5321.16. Entry to a tenant's unit is governed as follows: 24 hours' notice and reasonable times, except emergencies. Rent increases in Ohio: No.
Neighbors of Canton by the numbers
Looking across the table, values run from $63,300 (Youngstown) up to $219,900 (Kent), and Canton lands at $97,800.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Youngstown | 44% | $811 | $63,300 | 59,331 | $728 |
| Warren | 44% | $1,236 | $86,400 | 38,912 | $766 |
| Kent | 59% | $3,463 | $219,900 | 27,116 | $991 |
| Akron | 49% | $1,950 | $122,000 | 189,247 | $955 |
| Canton | 51% | $1,227 | $97,800 | 69,755 | $850 |
Workforce and demand drivers in Canton
Self-employment accounts for 5.7% of Canton's workforce, so many local investors earn income that a standard payroll-based mortgage underwrites poorly. The same survey shows government workers are about 11% of employment, 16% of adults hold a bachelor's degree or higher and 7% of commuters travel 45 minutes or more.
Employers named in Wikipedia's Canton entry for 2022 include Aultman Hospital, Cleveland Clinic Mercy, Stark County, Canton City Schools and Walmart, which is where many tenants earn the income that pays rent. Campuses such as Malone University, Walsh University, Stark State College and Kent State University pull tenants into Canton, and landlords near them can plan around move-in seasons. Transportation links include interstate access via I-77 and air service through Akron-Canton Airport and Akron-Canton Airport. Easy highway and air access helps both tenant commutes and remote ownership.
Taking a Canton deal to a lender
A good Canton file has four pieces: rent evidence, a tax estimate, an insurance quote and cash. Preview the ratio in the calculator, then apply or talk to us.
More Ohio markets
- All Ohio DSCR loans
- DSCR loans in Akron, OH
- DSCR loans in Kent, OH
- DSCR loans in Warren, OH
- DSCR loans in Youngstown, OH
- Every market we cover
Where we checked
- Ohio tax source: Ohio Administrative Code 5703-9-64
- American Community Survey tables, Ohio
- Federal hazard index, OH
- Wikipedia: Canton, Ohio
- Ohio landlord deposit rules, Ohio Rev. Code § 5321.16
- For nightly stays in Canton: Ohio Revised Code 5739.09
All Canton statistics are ACS five-year survey estimates from 2020 to 2024. Ohio landlord-tenant summaries draw on the RedFlagLease dataset (CC BY 4.0) and the statutes linked above. Facts were checked in October 2026, and rules change.
Quick file checklist
For a Canton rental, request the current lease, the last tax bill and the insurance declarations page early, and confirm which utilities the tenant pays, because each one changes the monthly figure a lender compares with the rent.
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Frequently asked questions
Which rent counts when I finance a Canton property?
It comes from a lease or from the market rent in the appraisal, whichever the program uses. Against that, the Canton median is $850.
Does the ratio in Canton include taxes and dues?
They do. Rent of $850 divided by 1.25 gives about $680 as the payment ceiling, and $102 of that is spoken for by the median Canton tax bill.
Are Canton property taxes high for Ohio?
About $1,227 a year at the median, which is 1.25% of value and well below the Ohio median of $2,822. Reassessment after a purchase can move that number, so get an estimate for the actual price.
Will a lender count nightly rental income at a Canton property?
Possible where lender guidelines allow it, subject to Canton and Stark County rules and to the building's association. Lenders usually average a year of bookings and discount the result.
What are the security deposit rules for a Ohio landlord?
Under Ohio Rev. Code § 5321.16: No statutory cap. The deposit is due back within 30 days of move-out. Check the statute and your lease before collecting.
Does hazard risk affect a Canton DSCR loan?
FEMA's index puts the county at relatively moderate overall. A lender cares about the premium and any flood requirement, which are address-specific in Canton.
Should a Canton rental be bought in an LLC?
Many Canton investors do, though no rule forces it. The loan is secured by the property either way, and the lender will check who controls the company.