Cost of Living in Cincinnati, Ohio

Cincinnati, Ohio, is a medium-sized city with a lot to offer. From The Reds to great food and beer, the Queen City is a great place to live if you want to be close to large cities and enjoy the peace and quiet of small-town life. What’s better? Cincinnati’s living expenses are lower than the national average, making it ideal for most people. 

Cincinnati, Ohio, is ideal for families, with great living conditions, excellent schools, and plenty of fun activities around town. It’s a great place for those who love the outdoors to hike, bike, and kayak their way through the town.

Living in Cincinnati is all about balancing work and play. If you love beer, you’ll love the city’s taprooms, which can accommodate just about anyone. But before you consider relocating, it’s essential to know how much you’ll be spending on rent, food, and other necessities to ensure your budget can accommodate it. 

Would you like more information on Cincinnati’s living conditions? We’ll give you more details below.  

What is it Like Living in Cincinnati, Ohio 

Despite the city’s reputation as a quiet Midwestern metropolis, Cincinnati offers its people a wide range of attractions, including galleries, professional sports teams, and a variety of dining options.

Cincinnati’s top-notch public and private schooling system and its abundance of Montessori institutions attract families. Additionally, many Fortune 500 businesses hire both local and foreign personnel.

One of the greatest cities for both work and recreation is Cincinnati. Locals enjoy partying, celebrating the new sports season or remembering the city’s German history. Residents also have various options even when no events are scheduled. The fun hardly stops, from visiting various museums to indulging in the region’s famous chili.

If you’re planning to visit or relocate to Cincinnati, here’s some background information on the city to help you make the most of your stay.

— Population 

In Cincinnati, there are slightly over 309,000 people, and more than 2.2 million people live in its metropolitan area.

Over the past ten years, Cincinnati’s population has been continuously growing. City officials attribute the region’s expanding population and the revitalization of the urban center to the government’s pro-growth policies.

The most recent census shows that Cincinnati’s population increased by 1.4% annually and over 4% in the last ten years.

— Education

There are 16 high schools in Cincinnati’s Public School system, and each enrolls students from the entire city. Numerous public Montessori schools are located in the district, including Clark Montessori, the country’s first public high school.

Additionally, the Cincinnati region boasts high private school enrollment rates. The region is famous for the Yeshivas Lubavitch High School and the Regional Institute for Torah and Secular Studies (RITSS), which are exclusive to male and female students. 

34,635 kids attend the 64 schools that makeup Cincinnati Public Schools. 80% of the district’s students are minorities.

Cost of Living in Cincinnati, Ohio 

When you start your study to determine how much it will cost you to relocate, calculating your cost of living can help you learn more about the particular demands of living in the new region. So, what is the cost of living in Cincinnati, Ohio?

Living in Cincinnati is 8 percent less expensive nationwide. Depending on your employment, the typical pay in the area, and the real estate market, the cost of living can change wherever you go. 

Both housing and utility costs are 18% and 12% less expensive in Cincinnati than nationwide. You will also find a 3% increase over the national average transportation costs, including transport and gas prices.

— Employment

Despite being slightly below the national average, Cincinnati’s average annual salary is encouraging. When housing expenses are contrasted with median household income, Cincinnati represents a better bargain than other comparable-sized metro areas.

Well over 40 branches of Cincinnati’s enormous library system, which employs hundreds of locals in various administrative, technical, and service roles, are another notable element of the city.

Kroger and Procter & Gamble are just two of the Fortune 500 corporations that have their headquarters in Cincinnati. Many local hospitals employ medical professionals, and jobs in research, business, administration, and the arts are also in demand. 

Key points

  • Employment growth is 2.12% year over year
  • The unemployment rate is 3.5%
  • Average family income increased by 6.51%.
  • Net migration into Cincinnati reached 1,000 last year 
  • The cost of living is 9% lower than the national average. 

— Housing 

On average, homes are on the market in Cincinnati for just two days, putting it among the most sought-after housing markets in the nation. As of April 2022, the number of residences available for sale was just 1,451. The prices and the number of transactions had risen over the previous year.

Given that roughly 60% of residents in Cincinnati rent rather than own their homes, the city’s high housing demand is probably one factor in this development.

In the past year, properties in Cincinnati have increased in value by 17% and 70.6% in the last 5 years. Updated reports from the city’s board of realtors show that the median property sales price in Cincinnati is $240,000.

In the last 12 months, property sale in Cincinnati has increased by 10.3%. Additionally, stats on Realtor.com reveal that Mount Lookout has the highest average listing price in Cincinnati, at $415,000. Meanwhile, East Price Hill has the most affordable real estate, with an average listing price of $119,500.

Conclusion

The cost of living in any city typically depends on many different factors. Living in the queen city is generally affordable. The city has a lot to offer those searching for a place to call home. 

Cincinnati is one of America’s best-hidden gems. It’s home to a diverse population, a robust local economy, and some of the best food in the country. Using a national average of 100, the cost of living in Cincinnati is 86.8. Cincinnati offers a more affordable cost than the US average, from groceries to utilities and housing.  

Moving to Cincinnati, Ohio? Then you will want the best Cincinnati movers to help you with your move. Only go for the best for unbeatable services and an overall great experience.