Cincinnati Ohio Residential Rent and Rental Statistics
The median monthly gross residential rent in Cincinnati, OH (the Cincinnati-Middletown metro area) was $854 in 2019 according to the Census ACS survey.1 Average gross rent in Cincinnati was $875 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Cincinnati median and average rent data will be released in September of 2021.
Data is also available below for Cincinnati rental vacancy rates, Cincinnati rent as a percent of median income and the fraction of renters in Cincinnati.
Real Gross Rent in Cincinnati Ohio (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Ohio Median Gross Rent | $813 | +0.25% | +2.26% |
| Cincinnati, OH Median Gross Rent | $854 | -1.27% | +2.89% |
Cincinnati, OH Real Gross Rent Trends
Median gross rent for Cincinnati peaked in real terms in 2018 at $865 and is now $11 (1.27%) lower. Average gross rent for Cincinnati peaked in real terms in 2018 at $899 and is now $24 (2.67%) lower.
Real Gross Rent in Cincinnati: Cincinnati OH Median, Cincinnati OH Average, Ohio Median, US Median
Real Gross Rent History for Cincinnati
| Date | US Median |
Ohio Median |
Cincinnati, OH Median |
Cincinnati, OH Average |
|---|---|---|---|---|
| 2019 | $1,097 | $813 | $854 | $875 |
| 2018 | $1,077 | $811 | $865 | $899 |
| 2017 | $1,043 | $796 | $815 | $847 |
| 2016 | $1,027 | $795 | $830 | $857 |
| 2015 | $1,017 | $791 | $822 | $859 |
| 2014 | $986 | $776 | $793 | $822 |
| 2013 | $953 | $747 | $768 | $797 |
| 2012 | $940 | $745 | $769 | $796 |
| 2011 | $941 | $747 | $768 | $801 |
| 2010 | $955 | $765 | $793 | $831 |
| 2009 | $960 | $764 | $782 | $826 |
| 2007 | $927 | $755 | $766 | $773 |
| 2005 | $910 | $766 | $771 | $794 |
Cincinnati Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Cincinnati Ohio was 3.58% according to Census ACS data.
Rental Vacancy Rate in Cincinnati Ohio
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Ohio | 4.67% | -0.87% | -0.77% |
| Cincinnati, OH | 3.58% | -0.84% | -1.31% |
Trends in Cincinnati, OH Rental Vacancy Rate
The rental vacancy rate in Cincinnati peaked in 2006 at 12.97%. Since then it has fallen by 9.39% to 3.58%. Data records for this series originated in 2005.
Rental Vacancy Rate: Cincinnati OH, Ohio, US
Historical Rental Vacancy Rate data for Cincinnati
| Date | US | Ohio | Cincinnati, OH |
|---|---|---|---|
| 2019 | 5.97% | 4.67% | 3.58% |
| 2018 | 6.15% | 5.54% | 4.42% |
| 2017 | 6.18% | 5.62% | 5.04% |
| 2016 | 5.89% | 5.44% | 4.89% |
| 2015 | 5.85% | 5.56% | 5.74% |
| 2014 | 6.32% | 6.26% | 6.32% |
| 2013 | 6.49% | 6.15% | 6.48% |
| 2012 | 6.77% | 7.08% | 6.92% |
| 2011 | 7.40% | 7.89% | 11.30% |
| 2010 | 8.17% | 9.45% | 10.84% |
| 2009 | 8.43% | 9.17% | 10.89% |
| 2007 | 7.87% | 10.00% | 12.69% |
| 2005 | 7.74% | 10.37% | 10.66% |
Rent as a Fraction of Income
Using median household income data for Cincinnati, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Cincinnati, median monthly gross rent as a fraction of median household income was 15.34% in 2019 according to the ACS.
Cincinnati Ohio Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Ohio | 16.64% | -0.41% | -0.77% |
| Cincinnati, OH | 15.34% | -0.92% | -0.46% |
Trends in Cincinnati, OH Rent as a Fraction of Income
The fraction of median Cincinnati household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 16.54%. Since then it has fallen by 1.21% to 15.34%.
Fraction of Income towards Rent: Cincinnati OH, Ohio, US
Historical Data for Annual Rent as a Fraction of Income in Cincinnati Ohio
| Date | US | Ohio | Cincinnati, OH |
|---|---|---|---|
| 2019 | 20.03% | 16.64% | 15.34% |
| 2018 | 20.50% | 17.04% | 16.26% |
| 2017 | 20.13% | 17.15% | 15.38% |
| 2016 | 20.43% | 17.40% | 15.79% |
| 2015 | 20.63% | 17.53% | 16.37% |
| 2014 | 20.89% | 17.89% | 16.17% |
| 2013 | 20.78% | 17.70% | 16.39% |
| 2012 | 20.65% | 17.94% | 16.54% |
| 2011 | 20.70% | 18.15% | 16.29% |
| 2010 | 20.50% | 18.23% | 16.52% |
| 2009 | 20.12% | 17.71% | 15.88% |
| 2007 | 18.66% | 16.56% | 15.04% |
| 2005 | 18.89% | 16.91% | 15.38% |
Renter Fraction in Cincinnati Ohio
You can calculate the renter fraction in Cincinnati in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Cincinnati as a fraction of total Cincinnati households. In 2019 33.05% of households were renters according to Census ACS data.
Cincinnati Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Ohio | 33.96% | -0.17% | -0.68% |
| Cincinnati, OH | 33.05% | -1.50% | -1.31% |
Trends in the Cincinnati, OH Renter Fraction
The Cincinnati household renter fraction peaked in in 2014 at 34.82% and is now 1.77% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Cincinnati OH, Ohio, US
History of Cincinnati Renter Fraction
| Date | US | Ohio | Cincinnati, OH |
|---|---|---|---|
| 2019 | 35.89% | 33.96% | 33.05% |
| 2018 | 36.05% | 34.13% | 34.55% |
| 2017 | 36.13% | 34.22% | 34.08% |
| 2016 | 36.88% | 34.64% | 34.36% |
| 2015 | 36.97% | 34.59% | 34.63% |
| 2014 | 36.90% | 34.67% | 34.82% |
| 2013 | 36.50% | 33.93% | 34.47% |
| 2012 | 36.09% | 33.71% | 33.55% |
| 2011 | 35.42% | 33.02% | 31.23% |
| 2010 | 34.65% | 31.60% | 31.08% |
| 2009 | 34.13% | 31.95% | 31.79% |
| 2007 | 32.80% | 30.32% | 30.54% |
| 2005 | 33.10% | 30.06% | 30.96% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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