Cincinnati Apartment Rent Growth Hits Recent High

After registering below the national average for over a year, annual rent growth in Cincinnati has surpassed the U.S. norm in each of the past nine months, and recently hit a record high. Following a peak of 4.3% in September 2019, annual rent growth in Cincinnati clocked in at 4% in October. Those were some of the strongest rates the market has seen in the 20 years RealPage has been tracking the market. In fact, Cincinnati has only recorded annual rent growth of 4% or higher in five months during the current 10-year cycle, with three of those high points occurring during the past four months. Allowing Cincinnati operators to push rents ahead of the national norm, demand has picked up strength, while new supply has remained limited. As a result, occupancy landed at 97% in October, a notably strong rate for this market.