Property Makler
Advanced analytics for residential real estate investing

Cincinnati, OH-KY-IN housing market

Housing market indicators

Indicator	2022	2023	2024	2025*	2022	2023	2024	YTD
Median Listing Price per Square Feet	$168	$179	$184	$190	3.7%	6.5%	2.8%	3.3%
Active Listing Count	2,346	2,755	3,270	4,347	10.7%	17.4%	18.7%	32.9%
Median Days on Market	51	44	52	38	10.9%	-13.7%	18.2%	-26.9%
Share of listings with price increase	0.6%	0.5%	0.3%	0.3%
Share of listings with price decrease	10.1%	11.6%	14.7%	16.2%
Employees, thousands	1,152	1,162	1,168	1,175	2.4%	0.9%	0.5%	0.6%
Permits	397	328	349	407	-31.2%	-17.4%	6.4%	16.6%

* last available value

Note: 12M MA - 12 months moving average, Permits - New Private Housing Structures Authorized by Building Permits. Source: FRED

Area	City/town	Population	Density	Income (high/low/...)	Quality of Schools (great schools rating range)	Crime level	Property tax (%)	Comments
Hamilton County, OH	Cincinnati	138,339	Medium	Low	4-7	High	2.1	Urban core, 74% African American population, high poverty
Hamilton County, OH	County total	826,790	High	Medium-low	5-8	Medium-high	2.1	52.7% low SES tracts
Warren County, OH	Mason	35,000	Low	High	8-10	Low	1.8	83.7% high SES tracts, affluent suburbs
Warren County, OH	County total	239,556	Low-medium	High	7-10	Low	1.8	Top SES area
Butler County, OH	County total	387,830	Medium	Medium	6-9	Medium	1.7	54.8% low SES tracts
Clermont County, OH	County total	207,650	Medium	Medium-high	7-9	Low-medium	1.9	53.2% low SES tracts
Boone County, KY	County total	134,599	Low	High	8-10	Low	0.8	65.5% high SES tracts, no local income tax
Kenton County, KY	Covington	40,000	High	Medium	5-8	Medium	0.9	Urban KY side
Kenton County, KY	County total	168,264	Medium	Medium-high	6-9	Medium	0.9	52.3% high SES
Dearborn County, IN	County total	50,494	Low	Medium	6-8	Low-medium	0.8	No local income tax

To view all table columns, please open this table on a laptop or desktop screen.

Cincinnati OH-KY-IN MSA spans 16 counties across Ohio, Kentucky, Indiana.
Total population 2,302,815 in 2024, up from 2,252,077 in 2020.
Land area 4,385 square miles, density 518 people per square mile.
Core urban: Hamilton County OH (Cincinnati city proper).
Northern suburbs: Warren County OH (high growth, affluent).
Eastern suburbs: Clermont, Butler Counties OH (mixed SES).
Northern KY: Boone, Kenton Counties (airport hub, manufacturing).
Rural fringes: Gallatin, Grant, Pendleton KY; Dearborn, Franklin, Ohio IN (low population, low SES dominant).

Median household income varies: $59,625 in some low SES areas.
High SES counties like Warren OH show incomes above $100,000 average.
Education: City of Cincinnati lower attainment, 47% in lowest SES tracts with high school or less.
Suburbs like Boone KY, Warren OH: 40-50% bachelor's degrees or higher.
Overall metro: 30-35% college graduates, skewed by urban core poverty.
Racial integration low: Cincinnati city 74% African American, suburbs 98% white in high SES.

Manufacturing: Strong in northern KY (Boone, Kenton) and IN counties.
Healthcare and education: University of Cincinnati anchors, 24,000 students main campus.
Professional services: Concentrated in Cincinnati core and Warren County.
Logistics: Cincinnati/Northern Kentucky International Airport in Boone County drives jobs.
Finance and insurance: P&G headquarters in Cincinnati.
Retail and consumer goods: Regional distribution hubs.

Zoning: Suburban OH/KY counties more open to single-family development than urban Cincinnati.
Regulatory strictness: Hamilton County high barriers, environmental regs in Ohio River valley.
Construction workforce: Available but costs rising 5-7% yearly due to labor shortages.
Land availability: Abundant in rural IN/KY fringes, constrained in core suburbs like Mason OH.
New permits: Warren, Boone Counties lead with 2,000+ units annually.
Multifamily: Moderate growth in Covington KY, downtown Cincinnati.

Migration in: Net positive +50,000 since 2020, drawn to affordable suburbs vs coastal cities.
Growing industries: Logistics/airport expansion in Boone KY boosts demand +10% yearly.
Healthcare growth: UC Health, Cincinnati Children's add 5,000 jobs, fueling urban demand.
Remote work migration: Families to Warren/Clermont OH for space, schools.
Declining: Legacy manufacturing in rural KY/IN slows out-migration from low SES areas.
Young professionals: Inflow to Over-the-Rhine Cincinnati revival.

Inventory shortage: Only 2-3 months supply in suburbs, pushing prices up 8% YoY.
Affordability: Median home $280,000 metro-wide, but 40% income in city core unaffordable.
Socioeconomic segregation: Low SES tracts 50%+ in most counties limit integration.
Flood risk: Ohio River areas like Cincinnati, Covington vulnerable.
Aging housing stock: 60% pre-1980 builds need updates, raising costs.
Labor shortages: Construction delays 20% of projects.
Interest rates: 2025 highs slow first-time buyers.

Area	Appreciation potential	Risk	Key drivers
Warren County OH (Mason, Lebanon)	High	Low	Affluent migration, top schools, job growth, low crime
Boone County KY	High	Medium	Airport expansion, low taxes, manufacturing influx
Cincinnati core (Over-the-Rhine)	Medium-high	High	Urban revival, young buyers, but crime/flood risk
Hamilton County OH (west side)	Medium	Medium-high	Stable demand, aging stock, moderate income growth
Rural KY/IN (Gallatin, Ohio Counties)	Low	High	Population stagnation, low SES, limited jobs/infra
Kenton County KY (Covington)	Medium	Medium	Riverfront development, mixed SES improvement

To view all table columns, please open this table on a laptop or desktop screen.

Northern suburbs (Warren OH, Boone KY) lead appreciation 10-12% projected 2025-2027.
Urban core offers value-add via rehab, but higher volatility.
Rural areas lag, suitable for cash-flow rentals only.
Tax advantages: KY low property rates boost net yields 1-2% over OH.
Overall MSA: Steady 6-8% annual growth, below national hotspots but stable.