Sell Your Commercial Property In Dayton, OH

Who rents in Dayton

Dayton is a renter-majority city of 136,579 people. The ACS 2020–2024 estimates count 30,182 renter-occupied units out of 58,477 occupied homes, a 51.6% renter share, and a median household income of $45,247. The income squeeze shows up in rent burden: 14,801 renter households, 49.0% of the total, put 30% or more of income toward rent, and 7,795 (25.8%) spend at least half (table B25070).

The largest employers sit at the city's edge and in its hospitals. Wright-Patterson Air Force Base, which covers parts of Greene and Montgomery counties northeast of Dayton, reports more than 38,000 military, civilian and contractor employees. Kettering Health lists 15 medical centers and more than 15,000 employees, and Premier Health runs an academic system tied to Wright State University's medical school.

Rents and affordability

The Census median of $918 includes utilities and averages five years of leases, so HUD's Fair Market Rents are a more current yardstick. For the Dayton-Kettering-Beavercreek metro (Montgomery, Greene and Miami counties), FY2026 FMRs rose at every bedroom size:

Housing Choice Voucher programs in the metro use ZIP-level Small Area FMRs instead. Two-bedroom standards run from $990 in ZIP 45403 to $1,340 in 45402 and $1,800 in 45433, so for voucher tenants the ZIP code sets the rent ceiling.

The apartment stock

Dayton's housing is old and mostly small-scale, with a median year built of 1951. Of 70,335 housing units, 44,849 are single-family detached, 6,504 are in two- to four-unit buildings, and 13,399 (19.1%) are in buildings with five or more units, including 4,420 in complexes of 50 or more (table B25024).

The ACS records 11,858 vacant units, but 7,738 are classed as "other vacant," meaning held off the market, and only 2,059 are listed for rent (table B25004). The Auditor also reported significant 2026 value gains in Kettering and Huber Heights.

New supply

Most new units are coming downtown and through reuse of older buildings. The Downtown Dayton Partnership reports downtown occupancy above 90% for several years, about $400 million in projects completed in 2024 and $436 million under construction entering 2025. In March 2026 the city proposed a $2 million HOME agreement for 121 apartments in the Centre City building, Dayton's first skyscraper, with 10 units reserved for low-income residents. In Five Oaks, Magnus Capital Partners closed financing on the $72 million, 260-unit HÅM Flats at Forest, workforce housing for households at roughly 50% to 70% of area median income, with first units expected in spring 2027.

Property taxes on apartment buildings in Montgomery County

The Montgomery County Auditor sets market value, and Ohio taxes 35% of it. Ohio's land-use codes put apartments with four or more rental units (codes 401 to 403) in the commercial class. That means the commercial tax reduction factor applies, and the 10% rollback, limited to farm and residential property, does not.

For tax year 2025 (paid in 2026), the main Dayton City–Dayton City School District levy totals 112.27 gross mills. After reduction factors, the effective rate is 97.63 mills for commercial property versus 64.39 for residential. Applied to the 35% assessment, the commercial rate equals about 3.4% of appraised value each year.

Ohio resets values with a six-year reappraisal and a three-year update. The 2026 reappraisal raised commercial values about 20% countywide, according to the Auditor. The county's reappraisal FAQ says apartment values will vary by use and location, that new values apply to bills paid in 2027, and that formal Board of Revision complaints run January 1 to March 31.

Landlord rules and local compliance

• Rent control: Ohio Revised Code 5321.19 bars cities from imposing rent control or rent stabilization.
• Late fees: a 2020 Dayton ordinance caps late fees at the greater of $25 or 5% of monthly rent, forbids interest on late fees and requires signed receipts for cash and money-order payments.
• Deposits: under ORC 5321.16, the part of a deposit above the greater of $50 or one month's rent earns 5% annual interest once a tenant stays six months, and itemized deductions are due within 30 days of move-out.
• Registration: Dayton dropped a proposed city rental registration in 2020 and promotes the county registry instead. Owners must file with the County Auditor and update within 60 days (ORC 5323.02), with assessments of $50 to $150 for violations (ORC 5323.99). The city's voluntary Preferred Property program covers buildings of up to four units only.
• At sale: Dayton requires residential transfers to include a disclosure of open violations, and the county conveyance fee is $3 per $1,000 of price plus $0.50 per parcel.

What this means if you own a building here

Two numbers drive Dayton underwriting right now. On the income side, HUD's metro two-bedroom FMR rose 18% in one year. On the expense side, commercial values were reset upward in 2026 and bills follow in 2027. A buyer will price your building on trailing net operating income adjusted for the new assessment, so a value notice that looks high is worth reviewing before you list. Open code violations also surface at closing through the city disclosure, so known repairs are better priced in than discovered.

Skyline buys 5+ unit buildings in Dayton and the surrounding suburbs, occupied or value-add. To test how tax and rent changes move value, try the apartment building value calculator or the cap rate calculator, or start at sell my apartment building.