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.
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.
The median rent for Cincinnati homes is less expensive than most 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.
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.
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.
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.