The Cincinnati Real Estate Market
The median home price fluctuates some, depending on what resource you use. For example, Zillow says the median price is $124,000 while Trulia estimates that number to be closer to $149,000. The discrepancies tend to do with how quickly these entities retrieve information, but the median price currently is between $120,000 – $180,000 in price-point. The market is looking pretty consistent with some first quarter signs that real estate is up about 3% than from the same time last year.
The most desirable neighborhoods in Cincinnati include Forestville, Hyde Park, Mariemont, and Oakley. The best value neighborhoods you can check out are Clifton, Fruit Hill, Kennedy Heights, and Withamsville which are well-suited for first-time homebuyers.
About 63% of residents in Cincinnati are homeowners with the median age being about 38 and the median household income coming in at $48,000-$52,000 per year. A homeowner can expect to pay around $3000+ in annual property taxes.
The growing popularity of Cincinnati has local real estate professionals attributing it much to corporate companies relocating or stating their headquarters in this area. Cincy (as it’s often referred to) is home to 10-Fortune 500 companies, like Procter and Gamble, Kroger Food Company, and General Electric. In fact, the Brookings Institution says the Cincinnati is one of the top 25 fastest growing cities in America.