Cincinnati Rents Are Going Down

"Cincinnati posted a 3.1% year-over-year decline in median asking rent for 0- to 2-bedroom units in November, with the average asking rent coming in at $1,319. Lower rents are translating into some improvement for lower-wage households. Two minimum-wage earners in the Cincinnati area would each need to work about 49 hours per week to afford the median rental while keeping housing costs at 30% of income. That figure is down from prior years, highlighting how falling rents can quickly improve affordability at the margins."

"Across the 50 largest U.S. metros, the median asking rent fell to $1,693 in November, down 1% from a year earlier. That marked the 28th consecutive month of year-over-year rent declines nationwide. The easing has been consistent across unit sizes. Studio rents are down 0.4% year over year, while 1-bedroom and 2-bedroom units each fell about 1%. Economists note that studios tend to respond first to changes in demand, so their near-flat performance may suggest stabilizing renter behavior, even as larger units continue to soften."

Cincinnati median asking rent for 0- to 2-bedroom units fell 3.1% year over year in November to $1,319. Two minimum-wage earners in the area would each need to work about 49 hours per week to afford the median rental while keeping housing costs at 30% of income, improving affordability compared with prior years though still above a standard full-time schedule. The rent decline reflects softer demand and a more balanced local market, giving renters additional leverage heading into 2026. Nationally, the median asking rent among the 50 largest metros fell to $1,693, down 1% year over year, the 28th consecutive month of declines; easing occurred across unit sizes.

Read at SFGATE