Why we are investing in Cincinnati
Cincinnati has been warming up to being one of the best markets in the country. As of November 2021, single-family home sales prices and transaction volumes have increased by more than 10% year over year, while inventory has decreased by 14.5 percent.
High demand for property in Cincinnati is undoubtedly one of the reasons why the city is quickly becoming a renter’s market, with approximately 60% of residents renting vs owning outright.
The Cincinnati metro region, which straddles three states (Ohio, Kentucky, and Indiana) is nestled along the banks of the Ohio River which carries goods manufactured in Cincinnati up and down the large navigable river. This critical location makes Cincinnati a hub for manufacturing and transportation.
Cincinnati is the largest city in the state of Ohio and has an incredibly fast-growing economy! Data is showing that by 2028 the workforce will increase by more than 6%.
According to Forbes, Cincinnati is one of the top three hottest real estate markets in Ohio. The ranking is determined by a number of important performance indicators, such as median sale and list prices, days on market, and sales-to-list price ratio.
Cincinnati Job Market
By 2028 Cincinnati is expected to be adding an astounding 67,000+ jobs. These numbers are larger than what is expected from nearby cities like St. Louis, Cleveland and Pittsburgh. It is predicted that skilled crafts and information technology industries will experience significant employment growth.
Additionally, the city is also seeking ways to increase employment opportunities for lower-wage and entry-level workers in the region, which is great for local small businesses. Cincinnati’s unemployment rate has dropped to only 3.5 percent (Oct. 2021).
According to BLS the leading Cincinnati job sectors include: Information and data services; professional and business services; leisure and hospitality; commerce and transportation.
Cincinnati: a renters market
Cincinnati renter’s market has approximately 25% of its renters coming from outside the state. According to WCPO in Cincinnati, the market offers a “real affordability proposal” and is benefiting from inbound migration of people looking for great quality of life and an affordable place to call home away from high-cost coastal areas.
WalletHub has Cincinnati listed as one of the top locations for renters. Rating factors included rental market activity, affordability relative to family incomes, and general quality of life for real estate investors.
Renters love this area because it is the 44th best place for business and careers (per Forbes), there is amazing culture, and it is very easy to get downtown.
If you would like to stay up to date with the deals we are sourcing in Cincinnati, reach out to us or feel free to schedule an investor call to learn more!
You can reach our team at (970) 818-2009