Cincinnati, OH Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

What is the average price of a house in Cincinnati Ohio? ›

Cincinnati, OH housing market

In May 2024, the median listing home price in Cincinnati, OH was $295K, trending up 1.8% year-over-year. The median listing home price per square foot was $179. The median home sold price was $237K.

Cincinnati is in Hamilton County and is one of the best places to live in Ohio. Living in Cincinnati offers residents an urban suburban mix feel and most residents rent their homes. In Cincinnati there are a lot of bars, restaurants, coffee shops, and parks.

The average home price in Ohio is $221,800 according to data collected by Redfin. This is up by 5.3% year over year (YoY). Due to Ohio's tight inventory, this number is expected to keep increasing marginally.

With a median home value of about $1.5 million, Indian Hill takes the top spot as the most expensive suburb in the Cincinnati area. Housing in Indian Hill is nearly three times pricier than the Columbus suburb of Upper Arlington, which Travel + Leisure magazine recently ranked as the most expensive suburb in Ohio.

You meet credit score requirements: Conventional, USDA and VA Loans: 640 or higher. FHA Loans: 650 or higher.

USDA home loans are backed by the US Government. These loans provide 100% financing and require no down payment. They are designed to help buyers find properties with populations under 35,000 and provide up to $417,000.00 towards your home.

The affordable housing gap in Greater Cincinnati and across Ohio has improved slightly, according to a new report from the National Low Income Housing Coalition. The study says the Cincinnati metro area has a shortage of nearly 50,000 rental units affordable to extremely low-income households.

While there are plenty of more affordable places to live around the state, if you're looking for something a bit more extravagant, it will come with a heftier price tag. According to a list compiled by Family Handyman, the most expensive neighborhood in all of Ohio is Terrace Park and the 45174 zip code.

Is it a good time to buy a home in Ohio? ›

The months from March to June are the best time to buy a house in Ohio. This is due to the higher inventory, increased competition among sellers, and potentially lower asking prices.

The combination of high mortgage rates, steep home prices and low inventory levels are lining up to make the 2024 housing market a challenging one for both buyers and sellers. But rates have cooled a bit — if that continues throughout the year, as some experts predict, then market activity should heat up in response.

Family Budget in Cincinnati

According to the Economic Policy Institute's Family Budget Calculator, the salary needed to live in Cincinnati is $79,821 for a family of four with two kids and two adults. This comes out to $6,652 per month.

A family of four estimated monthly costs are 3,490.9$ without rent. A single person estimated monthly costs are 969.0$ without rent. Cincinnati is 40.9% less expensive than New York (without rent). Rent in Cincinnati is, on average, 66.6% lower than in New York.

The average cost to build a new house in Ohio is $111.24 per square foot, with prices ranging from $100 to $250 per square foot. For a 2,000-square-foot home, the average construction cost is $222,480, while the total cost to build a home in the state falls between $200,000 and $500,000.