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The Cincinnati Real Estate Market

Get a Closer Look at Real Estate and More in the Midwest

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Cincinnati

About Cincinnati

Cincinnati is the third-largest city in Ohio. The city has a population of 305,427 residents. It’s one of the most affordable places in the United States.

Cincinnati also known as The Queen City, is home to quality schools, top-tier health care, and a wide range of businesses. This means residents can afford to cover their basic needs and gain access to schools, hospitals, and job opportunities. These factors contribute to the city’s appeal to employers, workers, and investors.

The city is also known for its vibrant community. It has a wealth of entertainment options including museums, zoos, and sports to mention a few. Some popular industries in this region include business, manufacturing, and technology.

Population Growth

Cincinnati has had a steady population growth since 2009. It’s the 30th biggest metro area in the country. According to the Cincinnati Metropolitan Statistical Area, Cincinnati’s current population is 2.256 million. By 2050, the Cincinnati USA Regional Chamber expects the city is expected to gain over 600,000 residents.

2.256

2.256 million people live in the Cincinnati metropolitan area

30th

Cincinnati is the 30th biggest metropolitan in the US

3000

Warren County is the fastest growing area in Cincinnati

50th

The US News ranked Cincinnati 50th as one of the best places to live

615,000

The Cincinnati USA Regional Chamber predicts that Cincinnati could see an increase of 615,000 residents by 2050

Job Market

Cincinnati has a robust job market. 38.1% of the Cincinnati metropolitan residents are of working age (25-54 years old). Popular industries in the area include management, science, and business. Some of Cincinnati’s top companies include Mercy Health, GE Aerospace, Fifth Third Bank, and Procter & Gamble.

44th

Forbes ranked Cincinnati #44th on the "Most Promising Places for Businesses and Careers" list

$28.33

Cincinnati's average hourly range is $28.33

3.4%

Cincinnati's unemployment rate was 3.4% as of November 2023

Additionally...

  • Cincinnati’s library system comprises over 40 branches. This system provides a wide variety of job opportunities for residents.

  • Cincinnati is set to add jobs back into the city that were lost during the pandemic.

  • The employment rate in Cincinnati increased by 1.33% in 2021.

Real Estate Market

In 2023, private developers planned to build approximately 3,350 multifamily units. This would’ve been the most houses built in any year since 2000. This demonstrates the city’s robust economic strength and its appeal to prospective residents.

Cincinnati is also on Zillow’s list as one of the hottest markets for 2024. Other Ohio cities that made the list are Cleveland and Columbus.

10%

Cincinnati observed a 10% increase in multifamily permits since 2021

20,000

In 2022, over 20,000 people moved to Cincinnati

$256.5k

Median sales price of a Cincinnati home

Strong Renters' Market

According to Apartments.com, the average rent in Cincinnati is $1024, which is 32% less than the general average rent of $1,497 monthly. This means it’s cheaper to rent a house in Cincinnati than in many other cities in the United States.

In February 2024, Cincinnati’s rents increased by 0.2%. Although there’s been a slight rent increase, the city is attracting more people particularly due to its affordability. This means there’ll be an increased demand for housing and an opportunity for investors to profit. 

$991

A studio apartment in Cincinnati is rented for $991 per month

$259.9k

The average listing home price in Cincinnati is $259.9k.

61%

of housing is renter-occupied housing

Quality of Living

Living in Cincinnati means you don’t have to dig too deep into your pocket to get your money’s worth. In 2021 and 2022, the U.S. News & World Report ranked the city as the 13th Most Affordable Place to Live in the U.S. The city was also mentioned in the Top 50 Places to Live in 2021.

Affordability

Cincinnati is one of the most affordable places in the United States for renters. It was ranked first in the state and the 50th Best Place to Live in the U.S. last year. The cost of living and housing in Cincinnati is less than the overall average.

Attractions

Cincinnati is home to attractions like museums, galleries, and a wide array of restaurants. The New York Times ranked the city number eight on its 52 Places to Go list in 2018.

Healthcare

Residents have access to quality hospitals. UC Health and Cincinnati Children’s Hospital are ranked third place as having one of the Best Children’s Hospitals in the city.

Education

Cincinnati is known for its top-notch public and private schools and numerous Montessori schools. According to the U.S. News & World Report, over 60 schools in the area are among the top high rankings.