Spencer Fano is winning bigger than just being the No. 9 overall pick in the 2026 NFL Draft (despite going to the Browns)…
The young man is not just entering the league with a ~$32.25 million rookie contract and a ~$19.7 million signing bonus, but he could also be saving millions in taxes by deciding to establish residency in the state of Ohio.
Before the Utah standout protects a single blind‑side snap for Shadeur Sanders though, he faces a financial decision that could potentially shape the next decade of his life:
Should Spencer Fano stay tied to Utah, or establish Ohio residency?
Because for a 21‑year‑old offensive tackle with elite second‑contract potential, the wrong address doesn’t just cost money.
It costs millions.
APSM breaks down and suggests where the rookie should establish his primary residence to maximize his net worth across the residency landscape he now has to choose from:
Does Spencer Fano Own Any Property?
Fano was born and raised in Provo, Utah, starring at Timpview High School before becoming one of the Big-12 most sound tackles.
There are no public records of Fano owning real estate during his time at the University of Utah or elsewhere.
Like most NIL‑era athletes, he likely:
- Rented during his college days
- Saved NIL earnings and sponsorship income
- Waited until the draft to make major real estate decisions
Now, with a ~$19.7 million signing bonus on the way, Fano’s first real estate move is a financial fork in the road. Cleveland, while not glamorous, is quietly one of the smartest tax markets in the NFL.
Market #1: Utah (Home State)
- Median Home Price: ~$500,000
- Property Tax Rate: ~0.6%
- State Income Tax: 4.65%
- Cost of Living: ~5–10% above U.S. average
- Market Trend: Strong appreciation (~5-8% annually)
Pros
- Strong long‑term appreciation
- Booming tech corridor (Silicon Slopes)
- Familiar environment (where he’s from)
- Low property taxes compared to coastal regions
Cons
- Higher income tax (4.65%)
- Higher cost of living
- Not ideal for a rookie with a ~$19.7M signing bonus
APSM Take
Utah is a great real estate market, but a bad residency choice for Fano.
On a $19.7M signing bonus:
- Utah (4.65%) → ~$916K in state tax
- Ohio (3.75%) → ~$739K in state tax
That’s ~$177K saved instantly by the tackle choosing to move to Ohio.
Market #2: Ohio (Drafted State)
- Median Home Price: ~$235,000
- Property Tax Rate: ~1.6%
- State Income Tax: 3.75%
- Cost of Living: ~10% below U.S. average
- Market Trend: Slow, steady appreciation (2–4% annually)
Pros
- Lower income tax than Utah
- Affordable housing
- Strong rental demand in Cleveland metro
- Easy to defend residency
- Best tax outcome for Fano
Cons
- Lower appreciation than Utah
- Higher property taxes
APSM Take
Ohio is quietly one of the best financial moves in the entire top‑10.
Fano saves:
- ~$177K on his signing bonus
- Millions more across his rookie deal
- Even more if he earns a second contract (likely for a tackle)
Ohio is the clear winner.
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Best Housing Markets, Rental Markets & Appreciation Rates
Utah
- Best Housing Markets: Lehi, Draper, Provo, Salt Lake City
- Best Rental Markets: Salt Lake City, Provo, Orem
- Appreciation Rates: 5–8% annually
Ohio
- Best Housing Markets: Cleveland suburbs (Westlake, Avon, Strongsville), Columbus (Dublin, Powell)
- Best Rental Markets: Cleveland metro, Columbus metro
- Appreciation Rates: 2–4% annually
APSM Take
- Utah = better appreciation
- Ohio = better taxes
- Ohio wins for residency
- Utah wins for long‑term real estate investing
Fano can, and should, eventually own property in both states.
Residency Impact on Fano’s Signing Bonus
- Gross Signing Bonus: $19,700,000
- Federal Tax (37%): $12,411,000
| Residency State | State Tax Rate | State Tax on Bonus | Estimated Net Signing Bonus |
|---|---|---|---|
| Ohio | 3.75% | $465,413 | ~$11.95M |
| Utah | 4.65% | $916,050 | ~$11.37M |
Ohio could save Fano:
- ~$450K on his signing bonus
- Millions more across the length his rookie deal and tens of millions when he goes to the table to talk extension.
This is a quiet but meaningful financial win.
Investment Scenario:
Turning $11.9M Into Real Wealth
Using the Ohio residency scenario:
| ROI Rate (5 Years) | Projected Value |
|---|---|
| 10% Return | ~$19.2M |
| 12% Return | ~$21M |
| 15% Return | ~$24M |
| 20% Return | ~$29.8M |
If Fano were to invest his entire net signing bonus into an index fund with an average annual ROI of 10-20%, and lives below his means,
he could potentially turn ~$11.9M into $25-30+ million,
before touching a single dollar.
This is how you beat the
70% of athletes who go broke after retirement.
Jock Tax Considerations
NFL and other pro athletes also have jock tax obligations, as they earn income in different states across the U.S. and even internationally.
Ohio Advantage
- Lower state income tax
- Easy to defend residency
- Strong rental markets
Utah Disadvantage
- Higher income tax
- Higher cost of living
APSM Real Estate Verdict
Ohio Should Be His Primary Residence.
Utah Should Be His Long‑Term Investment Market.
If Spencer Fano wants to maximize his rookie earnings, protect his signing bonus, and build long‑term wealth, the move is simple:
- Establish Ohio residency immediately.
- Rent or buy strategically in Cleveland.
- Invest in Utah real estate for appreciation.
- Invest aggressively from Day 1.
Suggested Real Estate Strategy for Spencer Fano
- Primary residence: Ohio (Cleveland suburbs, Westlake, Avon)
- Secondary: Utah property for long‑term appreciation
- Invest: Majority of signing bonus into index funds
- Goal: Turn ~$11.9M into $20-30M+ by Year 5
Fano’s journey to the Midwest is unpredictable being from Utah.
However his money journey, doesn’t have to be.
Next Reads
- 2026 NFL Draft: Every 1st Round Contract Details, Net Income & Residency Analysis
- Jets #2 Pick David Bailey Is Headed to New York: The $36.8M Residency Mistake That Could Cost the Rookie Millions
- Inside the Washington Commanders’ Stadium Fight
- Chiefs #6 Pick Mansoor Delane Real Estate & Residency Analysis: Why Kansas City Is a Financial Trap for a Rookie
- Washington D.C. (U.S. Capital) Athlete Taxes
Credits
- Written By: Aidan Anderson
- Research & Analysis: Apostle Sports Media LLC
- Sources: NFL Draft Data, Sportico, Spotrac, Zillow / Redfin Market Research, ESPN, WSJ, APSM Proprietary Analysis
- Featured Image: Public Domain / Instagram
- Disclaimer: This article contains general financial information for educational purposes and does not constitute professional financial advice.
