Real estate investors should review the affordability and historic price changes of homes in Cincinnati. Affordability is one metric investors use to help decide if a specific market is good for rental property. Short- and long-term historic price changes are one measurement real estate investors can use to help match individual investment strategies to specific cities and neighborhoods.
The Freddie Mac House Price Index (FMHPI) report for the Cincinnati OH-KY-IN MSA reveals:
- October 2015 HPI: 115.23
- October 2020 HPI: 161.58
- 5-year change in home prices: 40.2%
- One-year change in home prices: 11.4%
- Monthly change in home prices: 1.1%
Kiplinger also analyzes home prices and affordability in the top 100 U.S. markets using information from ATTOM Data Solutions:
- Since the last real estate cycle market peak in May 2006, home prices in Cincinnati have increased by 5.3%.
- Since the last real estate cycle market bottom in March 2012, home prices in Cincinnati have increased by 46.3%.
- Cincinnati has an affordability index of 2 out of 10, meaning the metro area is one of the more affordable places to own a home in the U.S.