Cincinnati Real Estate Market 2020

Cincinnati Real Estate Market Trends & Statistics 2020

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 2019, the median price of 3 bedroom homes in Cincinnati was $165,000. This is 26% less than the median value nationwide.
• In the neighborhoods where RealWealth members invest, the median purchase price of 3 bedroom homes was $123,500 in 2019. This is 44% lower than the average 3 bedroom home nationwide.
• This shows us that Cincinnati property values uniquely affordable, especially in the neighborhoods where RealWealth members are investing.

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

• In 2019, the median monthly rent of 3 bedroom homes in the U.S. was $1,670. This is 0.75% of the median purchase price of $222,000.
• The median monthly rent of the average 3 bedroom home in Cincinnati was $1,232, which is 0.75% of the average purchase price of $165,000.
• In the neighborhoods where RealWealth members invest, 3 bedroom R.E.A.L. Income Properties™ were rented for an average $1,050 per month during this period. This is 0.85% of the average purchase price of $123,500.
• This shows us that Cincinnati is a strong real estate market for cash flow, especially in the neighborhoods where RealWealth members invest.

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

• Between 2012 and 2018, the annual appreciation rate of 3 bedroom single family homes in the Cincinnati metro was just over 6.2%. Nationally 3 bedroom home values appreciated over 9.2% annually.
• During this 7-year period the total appreciation of 3 bedroom homes in Cincinnati was 35% versus 55% nationally.
• Although Cincinnati is appreciating more slowly than other U.S. markets, 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 have also been rising steadily.

• Between 2012 and 2019, the median rent for 3 bedroom single family homes in Cincinnati rose by nearly 12%, which is below the national average of 37% 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 3.6%. This is 38% less than the national population growth during this period.
• This shows us that Cincinnati is experiencing population growth. Although this growth isn’t as rapid as other markets, it 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 has created 23,000 jobs. This is an annual growth rate of 2.06%. This is 40% higher than the national average.
• This shows us that Cincinnati is creating more jobs than most markets today. That said, 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 3 bedroom homes was $123,500 in 2019. This is 44% lower than the average 3 bedroom 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, 3 bedroom R.E.A.L. Income Properties™ were rented for an average $1,050 per month during this period. This is 0.85% of the average purchase price of $123,500.
• 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 2012 and 2019, 3 bedroom homes in Cincinnati appreciated by 35% versus 55% nationally.
• Although Cincinnati is appreciating more slowly than other U.S. markets, 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 2012 and 2019, the median rent for 3 bedroom single family homes rose by almost 12%, which is below the national average of 37% for this period.
• This shows us that Cincinnati rents are rising at a slower pace, but still rising. This is good news for investors interested in increasing their monthly rental income.

Cincinnati Demand is Rising

• Between 2010 and 2018 Cincinnati’s population grew by 3.6%. This is 38% less than the national population growth during this period.
• In the last year, the Cincinnati metro has created 23,000 jobs. This is an annual growth rate of 2.06%. This is 40% higher than the national average.
• This shows us that Cincinnati is experiencing huge population as well as steady job growth. Although the job growth isn’t 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.