Cincinnati Ranks Among Nation’s Leaders for Rent Growth

Cincinnati ranked among the nation’s top five large apartment markets for annual rent growth in July. The market logged a price increase of 3% in the year-ending July, according to data from RealPage Market Analytics. Among the nation’s 50 largest apartment markets, that was a top five performance, tying with San Jose and ranking alongside gateway markets like San Francisco, Chicago and New York. Pittsburgh, which is about the same size as Cincinnati, also ranked among the nation’s top five annual rent growth leaders in July. Cincinnati rent growth has come down from recent highs in 2022, when annual price hikes topped out at a sizable 12.6% in August. After rent growth came down across the nation, Cincinnati held on to a stronger performance than many of its Midwest peers. A 3% increase in the past year, however, is a bit behind the market’s decade average of 4.4%.