Cincinnati Rent Report: June 2024

Welcome to the Apartment List June 2024 Rent Report for Cincinnati, OH. Currently, the overall median rent in the city stands at $1,062, after rising 1.5% last month. Prices and are now up 0.0% year-over-year. Read on to learn more about what’s been happening in the Cincinnati rental market and how it compares to trends throughout the nation as a whole.

Cincinnati rents are up 1.5% month-over-month and flat year-over-year

The median rent in Cincinnati rose by 1.5% over the course of May, and has now increased by a total of 0.0% over the past 12 months. Cincinnati’s rent growth over the past year has has fallen behind the state average (1.8%) and is similar to the national average (-0.8%).

Cincinnati rent growth in 2024 pacing below last year

Five months into the year, rents in Cincinnati have risen 2.3%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to May 2023 rents had increased 4.4%.

May rent growth in Cincinnati ranked #8 among large U.S. cities

Cincinnati rents went up 1.5% in the past month, compared to the national rate of 0.5%. Among the nation's 100 largest cities, this ranks #8. Similar monthly rent growth took place in Chicago, IL (1.6%) and Philadelphia, PA (1.5%).

Cincinnati is the #93 most expensive large city in the U.S., with a median rent of $1,062

Citywide, the median rent currently stands at $908 for a 1-bedroom apartment and $1,148 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,062. That ranks #93 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,233 for a 1-bedroom, $1,389 for a 2-bedroom, and $1,404 overall. The median rent in Cincinnati is 24.4% lower than the national, and is similar to the prices you would find in Detroit, MI ($1,068) and Oklahoma City, OK ($1,060).