5 ReasonsWhy Cincinnati’s Housing Market Is Strong
by Marco Santarelli, Norada Real Estate Investments
If you’ve heard of Cincinnati lately, there is a fair chance it is because one of several Cincinnati small home builders popped up in the news or was the star of a tiny house reality show. Whether you want to build tiny homes to provide affordable options on the Cincinnati real estate market or think that tiny homes built here and exported elsewhere will help the local economy is your decision. But, if tiny homes aren’t your investment of choice, here are five reasons to invest in the rental properties in Cincinnati.
drive from Cincinnati. Those investing in the Cincinnati real estate market, especially in the northern suburbs, could tap into this market with affordable single-family homes conveniently located for those commuting to the base. If you are looking for something closer to home, the Blue Ash Air National Guard Station supplies a constant stream of renters.
CINCINNATI REAL ESTATE FORECAST
SHOWS LONG-TERM GROWTH The Cincinnati forecast shows that the housing market is truly expanding for many reasons. The Dayton and Cin- cinnati metro areas are expanding along I-75 and expect- ed to combine into one metro area by 2040. This provides a known area where businesses and eventually people will move, so those who build up or invest in Cincinnati real estate here will have excellent future returns. The Cincinnati forecast also shows that the real estate market certainly isn’t hurt by the Amazon distribution centers popping up in nearby Dayton. It doesn’t matter if the property is in the Cincinnati housing market if it is close to new employers like this.
CINCINNATI’S STRONG JOB MARKET
ATTRACTS MILLENNIALS While not as well-known as other Midwestern cities, in 2016, Cincinnati was rated as one of the best places to live in the U.S. by U.S. News & World Report. The city of Cincinnati is currently growing in the business world and attracting new people interested in growing their careers. If this trend continues to grow, the cost of housing in the Cincinnati area may continue to rise which means it would become a bit more expensive to live in Cincinnati.
CINCINNATI HAS A MASSIVE STUDENT
POPULATION THAT RENTS The University of Cincinnati provides a large student body (more than 40,000) that lives on and off-campus. Union Institute and University host more than a thousand students, while the Christ College of Nursing has almost a thousand students. Cincinnati State Technical College has around a thousand students. Cincinnati Christian University has almost a thousand students. Xavier Uni- versity educates over six thousand students. This means there are many opportunities in the Cincinnati real estate market for those who want to cater to students.
CINCINNATI REAL ESTATE MARKET
IS LANDLORD FRIENDLY Ohio is more landlord-friendly than several oth- er Midwestern states. There’s no maximum security deposit. There’s no statute stating how much notice you must give before increasing rent. There is no law stating that a tenant must be allowed to make repairs and deduct said cost from the rent. You can evict a tenant three days after they’ve failed to pay the rent, and the lease can be terminated three days after notice that they’ve violated the lease. There’s no statute saying the landlord has to hold onto the abandoned property for weeks waiting for the tenant to get it. The Cincinnati housing market is one of the best in the area for real estate investors. •
THE MILITARY MARKET BOOSTS
CINCINNATI RENTALS Wright-Patterson Air Force Base is about an hour’s
INVESTOR REV I EW : : 9
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