Cincinnati Real Estate Market 2021

Cincinnati Real Estate Market Trends & Statistics 2021

In this section, you’ll learn about the top factors that make the Cincinnati real estate market one of the strongest of 2021, including: affordability, cash flow, and equity growth potential. Explore Cincinnati’s housing market, population, and employment trends in the tabs to learn more.

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Data Sources:

• https://www.zillow.com/
• RealWealth Property Team Data
• https://factfinder.census.gov/
• https://www.deptofnumbers.com/

Home values in the Cincinnati real estate market are more affordable than many other cities across the nation

• In 2020, the median homes in Cincinnati was $195,387. This is 23% less than the median value nationwide.
• In the neighborhoods where RealWealth members invest, the median purchase price of average homes was $180,000 in 2020. This is 29% lower than the average home nationwide.
• This shows us that Cincinnati property values uniquely affordable, especially in the neighborhoods where RealWealth members are investing.

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The median rent for Cincinnati homes is higher than more expensive U.S. cities

• In 2020, the median monthly rent of average homes in the U.S. was $1,700. This is 0.68% of the median purchase price of $254,000.
• The median monthly rent of the average home in Cincinnati was $1,251, which is 0.64% of the average purchase price of $195,387.
• In the neighborhoods where RealWealth members invest, R.E.A.L. Income Properties™ were rented for an average $1,755 per month during this period. This is 0.98% of the average purchase price of $180,000.
• This shows us that Cincinnati is a strong real estate market for cash flow, especially in the neighborhoods where RealWealth members invest.

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Cincinnati real estate prices have been rising steadily for the last several years

• Between 2014 and 2020, the annual appreciation rate of average homes in the Cincinnati metro was just under 5.45%. Nationally home values appreciated 5.31% annually.
• During this 9-year period, the total appreciation of average homes in Cincinnati was just under 38% versus 36% nationally.
• Cincinnati is appreciating slightly faster than other U.S. markets and real estate values have been rising consistently year after year. If the demand stays strong, we can expect that property values will continue to rise in the coming years. This is good news for investors interested in equity growth.

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Cincinnati Rents have also been rising steadily.

 

• Between 2014 and 2020, the median rent for average homes in Cincinnati rose by over 26%, which is above the national average of 23% for this period.
• This shows us that Cincinnati rents are rising at a similar pace to other cities across America. This is good news for investors interested in increasing their monthly rental income.

Cincinnati has been experiencing slow, but consistent population growth over the last several years.

• Since 2010,  Cincinnati’s population grew by 3.76%. This is 39% less than the national population growth during this period.
• Although this growth isn’t as rapid as other markets, Cincinnati is experiencing consistent population growth, which is still a good sign of a strong real estate market.

Cincinnati has been creating jobs, but not as many as other markets.

• In the last year, the Cincinnati metro suffered 63,000 job losses due to COVID-19. This is an annual job loss rate of 5.64%. Compared to other markets across the country, Cincinnati fared 8% better.
• This shows us that Cincinnati’s job market is stable and will continue creating jobs in the coming year. Any job growth is a good indication of a strong real estate market.

Cincinnati is Affordable

• In the neighborhoods where RealWealth members invest, the median purchase price of average homes was $180,000 in 2020. This is 29% lower than the average home nationwide.
• This shows us that Cincinnati property values uniquely affordable, especially in the neighborhoods where RealWealth members are investing.

Cincinnati is Cash Flowing

• In the neighborhoods where RealWealth members invest, R.E.A.L. Income Properties™ were rented for an average $1,755 per month during this period. This is 0.98% of the average purchase price of $180,000.
• This shows us that Cincinnati is a strong real estate market for cash flow, especially in the neighborhoods where RealWealth members invest.

Cincinnati Has Equity Growth Potential

• Between 2014 and 2020, average homes in Cincinnati appreciated by 38% versus 36% nationally.
• Cincinnati is appreciating more quickly than other U.S. markets and real estate values have been rising consistently year after year. If the demand stays strong, we can expect that property values will continue to rise in the coming years. This is good news for investors interested in equity growth.

Cincinnati Rents are Rising

• Between 2014 and 2020, the median rent for average homes rose by over 26%, which is above the national average of 23% for this period.
• This shows us that Cincinnati rents are rising slightly faster compared to the national average. This is good news for investors interested in increasing their monthly rental income.

Cincinnati Demand is Rising

• Between 2010 and 2019 Cincinnati’s population grew by 3.76%. This is 39% less than the national population growth during this period.
• In the last year, the Cincinnati metro has lost 63,000 jobs. This is an annual job loss rate of 5.6%. This is 8% better than job losses nationwide.
• This shows us that Cincinnati is experiencing population growth as well as a stable job market. Although the job growth hasn’t been as rapid as some other markets, it’s still growth. And growth, along with affordability (which Cincinnati definitely still offers), is a good sign of a strong real estate market.