NAICS 23

Construction in Toledo, OH

Metro Market Score 54.5 (Challenging), ranked #240 of 342 metros. 1,142 establishments, 13,964 jobs.

Metro Market Score 54.5

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Challenging

ⓘ Lower is better. Relative to national construction average.

💰High-Cost Market

At #240 of 342 metros, Toledo's construction sector scores 54.5 on the market index. Concentration (43.0), wage levels (91.5), and growth (57.3) all track close to the median. Local factors like lease costs and client access will matter more than macro signals.

Industry Concentration

43.0

LQ: 0.92

Rank #147 of 342 metros

Wage Competitiveness

91.5

$87,840 avg wage

Growth Trend

↑ 57.3

Employment growth index

Rank #147 of 342 metros

Wage Pressure

40.5

YoY wage change index

1,142 Construction Firms in Toledo

1,142

Establishments

+0.4% YoY

13,964

Total Employment

+2.8% YoY

$87,840

Average Annual Wage

+7.2% YoY

0.92

Location Quotient

Below national avg

Within Ohio

#10 of 11

construction metros in state

Ohio state rank

#24 of 51

for construction entry risk

vs State Median

+8.3

worse than median (46.2)

Toledo vs Ohio Statewide

How this metro's construction market compares to Ohio overall. The state ranks #24/51 for entry risk.

Measure	Toledo	OH Statewide
Overall Score	54.5 Challenging	41.7 Moderate
Score Type	Metro Market Score	Entry Risk Score
Rank	#240 of 342 metros	#24 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Toledo

Finance and Insurance 44.1 Information 44.8 Accommodation and Food Services 45.0 Retail Trade 45.2 Other Services 47.5 Real Estate and Rental and Leasing 48.8 Administrative and Support Services 49.5

Construction in Other Ohio Metros

Springfield 28.4 #31/342 Sandusky 32.1 #53/342 Lima 35.9 #70/342 Mansfield 36.0 #71/342 Dayton-Kettering-Beavercreek 46.1 #155/342 Columbus 46.2 #157/342 Canton-Massillon 46.3 #158/342 Cleveland 47.0 #163/342 Akron 49.8 #188/342 Youngstown-Warren 61.3 #292/342

Construction Metros With Similar Conditions

Metros within 5 points of Toledo's 54.5 score. Useful when comparing markets with comparable entry profiles.

Pittsfield, MA 54.5 #239/342 Fargo, ND 54.6 #241/342 Glens Falls, NY 54.5 #238/342 Punta Gorda, FL 54.7 #242/342 Reading, PA 54.4 #237/342 Alexandria, LA 54.4 #236/342 Medford, OR 54.8 #243/342 Grand Junction, CO 54.8 #244/342 Charleston, WV 54.2 #235/342 Wichita, KS 54.2 #234/342

Construction in States Bordering Ohio

State-level entry risk for construction in adjacent states. Use this to weigh cross-border options.

Michigan 28.0 #2/51 Pennsylvania 28.4 #3/51 Indiana 35.0 #11/51 Kentucky 39.8 #19/51 West Virginia 49.5 #35/51

Browse Construction in Other States

State-level entry risk reports for construction across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Toledo's construction sector, the wage competitiveness component (91.5) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Toledo, OH MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment