Is Cincinnati a good real estate investment?
Cincinnati is also ranked as one of the best cities for renters by WalletHub. The ranking analyzed key criteria that real estate investors use, including activity in the rental market, affordability compared to household incomes, and overall quality of life.
In 2020, Ohio was ranked #9 in America's top states for business. The buckeye state has one of the highest-rated infrastructures and a low cost of doing business. As any experienced real estate investor knows, a growing job market and bustling economy are always good signs for a healthy housing market.
Cincinnati is a sizzling hot housing market due to low housing inventory and relatively higher demand. Cincinnati, like many other Midwestern cities, is ticked off among those that used to be great.
Cincinnati Demographics
White: 50.75% Black or African American: 42.25% Two or more races: 3.73% Asian: 2.18%
Cincinnati is one of the most affordable cities to live in the U.S. In the Cincinnati Region you can buy a great house for an affordable price, as well as pay for groceries, healthcare, transportation, and utilities without busting your budget.
It's official: Cincinnati is growing
Cincinnati's population edged up to 309,317 residents in the 2020 Census, a 4.2% increase over 2010 and the first increase of any kind since 1950.
Overview of the Ohio Real Estate Market 2021
All in all, Ohioans benefit from a low cost of living, decent colleges, and a wide range of outdoor opportunities and attractions in cool towns, making it one of the best states in America to invest in property as demand is high.
Columbus is rated by Forbes as being among the best metro areas to invest in housing. Housing is competitively priced with an index of 77. Costs for healthcare, transportation, and utilities are near the national average.
Cleveland is ranked as one of the best places to buy a rental property this year for investors seeking a balanced blend of cash flow and appreciation.
Cincinnati was ranked as the best place to live in Ohio. Here is what to love. U.S. News & World Report ranked Cincinnati as the No. 1 city to live in Ohio for 2021-22 – but the accolades don't stop there.
How is the housing market in Ohio?
Beyond Central Ohio, much of the state is seeing a an uptick in homes being sold, as well as prices for homes skyrocketing. According to Ohio Relators, February saw an increase in home sales by 11.9%, compared to last year. A reason for the spike, more offers are coming in for houses.
Denver, CO Housing Market
In April 2022, the median listing home price in Denver, CO was $575K, trending up 15% year-over-year. The median listing home price per square foot was $370. The median home sold price was $567.5K.
A Greater Cincinnati community ranks among the richest in all the land, according to a new report. A Greater Cincinnati community ranks among the richest in all the land, according to a new report. The suburban Village of Indian Hill ranks No. 17 in Bloomberg's 2020 list of 200 richest neighborhoods in the U.S. and No.
According to the most recent estimates from 2019, Cincinnati is a minority-majority city by 3.6 percentage points.
Cincinnati is known for its art culture, sports team, and chili. The city hosts theatre, orchestra, and ballet shows. Cincinnati is also home to the first baseball team in America: the Cincinnati Reds. Locals and tourists also go crazy over the city's iconic chili, which has greek influences.
The living wage in Cincinnati is $15.48 per hour, which is the basic wage needed to pay for essentials like housing, food, and necessities.
A good salary in Cincinnati, OH is anything over $46,000. That's because the median income in Cincinnati is $46,000, which means if you earn more than that you're earning more than 50% of the people living in Cincinnati. The average salary in Cincinnati is $54,125. A good hourly wage in Cincinnati is $22.12 per hour.
- Over-the-Rhine. Over the Rhine has transformed in the past 10 years. ...
- Mount Adams. From its steep hills, the elegant Mount Adams overlooks downtown and the river. ...
- Oakley. This urban-style suburb has gained a lot of attention because there are so many things to do in the area. ...
- Hyde Park.
Race / Ethnicity | Pop 2010 | % 2020 |
---|---|---|
Black or African American alone (NH) | 132,307 | 40.30% |
Native American or Alaska Native alone (NH) | 549 | 0.15% |
Asian alone (NH) | 5,434 | 2.51% |
Pacific Islander alone (NH) | 168 | 0.04% |
Cincinnati, Ohio is located in USDA Hardiness Zone 6.
Is Greater Cincinnati growing?
Tri-State continues to grow
Greater Cincinnati grew 5.6 percent in the last decade, beating census estimates. The region now comprises 2,256,884 residents. It remains the largest metropolitan area in Ohio and is the 30th largest metropolitan area in the country, ahead of Columbus, Indianapolis, Cleveland and Nashville.
A ranking by U.S. News and World Report cites Cincinnati as the best Ohio city for people to live. The study ranked cities in Ohio on desirability, value, job market, quality of life, net migration. After Cincinnati, Columbus was ranked second, Dayton third, Cleveland fourth, Toledo fifth and Youngstown sixth.
Prices are very affordable, cash flow from single-family rental property is strong, and the real estate market favors buyers. Dayton has managed to remain under the radar screen of most real estate investors, which is surprising given how inexpensive the market here is.
Columbus is also one of the hottest real estate markets in the nation. Columbus real estate has appreciated 83.33 percent in the last ten years, for an average annual home appreciation rate of 6.25 percent. This puts Columbus in the top 20% nationally for real estate appreciation.
In 2020, Ohio was ranked #9 as America's top states for business. It has one of the highest rated infrastructures and a low cost of doing business. A growing job market and economy is always a good sign for a healthy housing market.
Homes sales in March 2022 reached 11,832, a 4.8% decline from the 12,429 sales recorded during the month a year ago. The average sales price across Ohio in March reached $247,123, an 11.1% increase from the $222,421 mark posted during the month in 2021.
COLUMBUS IS GROWING, AND SO ARE ITS GROWING PAINS
But community leaders estimate the Columbus region's population will double by 2050 — while some believe it could triple as soon as 2035.
Downtown Cleveland experiences 76 percent increase in residents aged 25-34 since 2000.
London's rental market is set to become more competitive this year after December 2021 finished with a 25% increase in tenant enquiries compared to December last year. Whilst tenant demand continued to grow, the number of properties available to rent decreased by an overwhelming 69% during the same time frame.
Cleveland home rental cost increases as residents continue to struggle making payments. The housing market remains in high demand and it's forcing the cost to rent to keep going up. CLEVELAND — The housing market remains in high demand and it's forcing the cost of rent to keep going up.
Which city is better Cincinnati or Columbus?
For starters, Cincinnati is bigger. Aside from that, it has a city vibe… a Metropolitan feel combined with a Midwest attitude and culture. If one likes the river and a lot of sports, Cincinnati is the best option for you. But in terms of the housing market and the job economy, both cities can actually deliver.
U.S. News & World Report noted that Cincinnati residents "benefit from a wealth of amenities, including museums, professional sports teams and a wide selection of restaurants." The report stated that families are drawn to Cincinnati for its public and private schools as well as its Fortune 500 companies.
The mayors of most of the 10 largest cities in the state (Columbus, Cleveland, Cincinnati, Toledo, Akron, Dayton, Youngstown, Canton, Parma, Lorain) are Democrats.
Housing market predictions
House prices could drop in 2022, but they have defied expectations and continued to rise over 2021 and into 2022.
Lack of units, higher population leading to rising rent prices in central Ohio. The Columbus Apartment Association say the city would need to build 14-thousand units a year to keep up with the population boom.
Sale-to-List Price Ratio: 103.43% Homes in Columbus, OH sold for 3.43% above asking price on average in April 2022. Columbus, OH is a buyer's market in April 2022, which means that the supply of homes is greater than the demand for homes.
In 2020, U.S. News & World Report named Denver as the second-best place to live in 2020-2021. With the city's rising popularity comes a rising cost of housing, and many people are wondering…
DENVER, CO — Denver is the second-best city in the United States to live in 2020, according to a new ranking released by U.S. News & World Report. This year's lists evaluate the 150 most populous metropolitan areas in the United States based on affordability, job prospects and desirability.
According to data from realtor.com, the median listing price for a home in Phoenix in November 2020 was $417,500; a year later, median listings have risen to just under $485,000.