Cincinnati, Ohio

$137,300 is Cincinnati’s median home value. In the previous year, 8 percent is the amount the home value has increased in Cincinnati. There has been a forecast made that in the following year – Cincinnati home values will increase 6.1 percent.

In the city of Cincinnati, $125 is the per square foot median list cost. The Metro Area of Cincinnati has a lower per square foot average list cost of $120.

$200,000 is Cincinnati’s presently listed median home price. When it comes to the cost of rent, $1,300 is the rent price median in the city of Cincinnati, OH. The Metro Area of Cincinnati has a slightly lower rent price median. It’s $1,295.

When it comes to the economics of realty, one important factor is the rate of foreclosures. The rate of foreclosures is closely tied to real estate economics because the higher the foreclosure rate, the lower the value of property.

The opposite is also true. The lower the foreclosure rate, the higher the value of real estate. If a particular area gets an exceedingly high foreclosure rate, the value of real estate in that area could sink.

If a huge percentage of real estate in the United States has an exceedingly high foreclosure rate, the value of real estate in much of the United States could sink. This is what happened in the 2008 recession.

For every 10,000 homes in the city of Cincinnati, 3.0 houses go through the process of foreclosure. The Metro Area of Cincinnati has a foreclosure rate that is quite a bit lower. It is that 1.8 houses go through foreclosure for every 10,000 houses.

When a homeowner is moving in the direction of getting their home foreclosed, there is a first step that the owner of the home experiences. That first step is called mortgage delinquency.

How do you define mortgage delinquency? Mortgage delinquency is what happens when a homeowner skips making a mortgage payment.

In the city of Cincinnati, 1.5% of homeowners are delinquent on their mortgages. This is a higher mortgage delinquency rate than that of the United States which is 1.1 percent.

We had a big recession earlier this Century that had a devastating effect on the real estate economy as well as the U.S. economy It was the 2008 recession. During this recession, home values plunged more than 20%. That was a gigantic financial loss for homeowners.

Because of that recession, great numbers of homeowners are currently experiencing being underwater on their home mortgages. What does it mean to be underwater regarding a mortgage? It means that the amount of the debt on the mortgage is a greater amount than the value of the home.

To be underwater on a mortgage can be very rough on a homeowner. This is particularly true for the homeowner who is financially struggling and needs to move. Not only will that homeowner likely need to pay the bank money to sell their home, but they will also have fees to sell their house.

In the city of Cincinnati, 10.6% of homeowners are now underwater regarding their mortgages. The Cincinnati Metro Area has a lower mortgage delinquency rate which is 7.6% of Cincinnati homeowners now underwater regarding on their mortgages.

We are now going to move on to commercial real estate in Cincinnati. And specifically we are going to look at an industrial property.

This property in Cincinnati will have one tenant, and that tenant is Design Within Reach. The property will have 618,000 square feet and the plan is for it to be completed by early 2019.

The industrial development, Design Within Reach, will be built by Duke Realty. The location of the development is pivotal to its success. And the key to that location is that the East Coast is where a large amount of the business goes - transportation is well suited for this location.

Design Within Reach has agreed to a long term lease. The lease is by Duke Realty. The property is an omnichannel distribution facility that is build to suit.

The Annual Median household income in the city of Cincinnati is $38,539.