Skip to main content

Scroll Down

Market Report

Cincinnati Multifamily Market
Report

2025 Investment Forecast

Growing Suburbs and New Industrial
Developments Boost Cincinnati’s Appeal

Suburban demand noted ahead of new supply. Cincinnati ranked among the top 10 major U.S. markets for rent growth last year. During 2024, suburban vacancy was pushed to under 5 percent — more than 100 basis points below its long-term average. This spike in rental demand enabled more upward movement on monthly payments outside the urban core. Concession usage may increase going forward, however, prompted by deliveries in Southeast Cincinnati and Butler County slated to rise in 2025, guiding rent growth back toward pre-pandemic norms over the short term. New supply will also influence Cincinnati’s CBD, with the Covington Central Riverfront project set to break ground in 2025. The redevelopment of the former IRS site into a mixed-use district — including offices, housing and educational institutions — will eventually add over 250 residential units, roughly 2 percent of the CBD’s total stock. Though this initiative will stimulate long-term demand and support urban revitalization, its near-term construction phase is unlikely to significantly affect rents or vacancy within the CBD in 2025.

Related Research

Back to top