#national-rent-trends

#national-rent-trends

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.