Cincinnati Retail Market Report
Foot Traffic Fueled by Strong Migration;
Suburban Demand Set to Absorb Arrivals
Renewed demand for suburban space. As Cincinnati closes in on full pre-pandemic job recovery, it has continued to see upward trending net in-migration. The projected 6,600 new residents will be the highest recorded increase since 1993 and more than doubles 2019 move-ins. The growth coincides with affordable housing costs as the median home price is at least $100,000 below the national level and rising at a slower pace. After suburban areas felt the impact of pandemic effects, most ended 2021 notably improved or stabilized from the divergent trends of 2020. With a moderate development pipeline focused outside of the core, suburban recovery is positioned to aid market absorption, while urban demand also remains healthy. This year opened with particularly strong leasing activity in Eastgate-Anderson Township and Forest Park-West.