Willoughby, OH

  • Overview
  • Performance
  • Listings
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Key Performance Metrics

Market snapshot

Performance indicators for the Willoughby short-term rental market based on reliable data.

Listings

133 / 257

Reliable / Active

Cap Rate

11%

Middle-Earners Gross Yield

Revenue

$28,094

Middle-Earners Revenue

Occupancy

62%

Middle-Earners Occupancy

Home Value

$246,760

Median Home Sale Price

Top Earners

$57,536

Top-Earners Revenue

Willoughby

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Willoughby.

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C

Challenging to Investors

Willoughby Regulations

Legality is unclear in a regulatory gray area (no explicit prohibition or permitting), with no current fees/caps but a future framework (zoning, caps, strike system) that could tighten quickly; enforcement is complaint-driven and inconsistent, and neighboring bans raise the risk of future restrictions or state preemption.

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About Willoughby

Willoughby is a city in Lake County, Ohio, situated in the northeastern corner of the state along the southern shore of Lake Erie. With an approximate population of around 23,000 residents, it has the feel of an established small city with a walkable, brick-laid downtown and a strong sense of local identity. The community is best known for its preserved nineteenth-century architecture, its tree-lined residential streets, and its role as a convenient inland base for visitors exploring Lake County's lake-shore parks, vineyards, and natural areas. Willoughby sits roughly eighteen miles northeast of downtown Cleveland, placing it within easy reach of a major metropolitan area while retaining its own distinct, small-town atmosphere.

One of the area's standout attractions is the Holden Arboretum, located in neighboring Kirtland just a few minutes east of Willoughby. Spanning more than three thousand acres, it ranks among the largest arboreta in the United States and offers visitors miles of hiking trails, themed gardens, a canopy walk among the treetops, and seasonal displays that draw families, gardeners, and nature lovers throughout the year. Its close proximity to Willoughby makes it a natural day-trip destination for guests staying in the area.

Just north of the city, the waters and shoreline of Lake Erie define the region's recreational character. A short drive brings visitors to the headlands and beaches of Lake County's lakefront, including nearby public beaches and Lake Metroparks reservations that provide picnic areas, trails, and bird-watching opportunities along the migration flyway. The lake is central to the local identity and offers a different kind of appeal in every season, from summer swimming to autumn foliage along the bluffs.

Heading a few minutes further east, Headlands Beach State Park in Mentor features the longest natural sand beach in Ohio, along with a landmark lighthouse and wide-open views of the lake. The park is a popular destination for swimming, sunbathing, and watching freighters pass through the nearby channel, and it adds a classic Great Lakes experience to any Willoughby-area itinerary.

To the southwest, the broader offerings of greater Cleveland are within a half-hour drive, expanding the range of dining, museums, professional sports, and entertainment options for visitors who want a bigger-city experience without having to relocate for the night.

Willoughby's appeal for short-term rental owners lies in this blend of small-city charm and regional accessibility. Its historic downtown, leafy neighborhoods, and proximity to Lake Erie, the Holden Arboretum, multiple metroparks, and Cleveland make it a comfortable, well-located base for travelers interested in nature, lakefront recreation, and Northeast Ohio culture in general.

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