Cincinnati Real Estate
About
At the confluence of the Licking with Ohio rivers, Cincinnati, OH was founded on December 28, 1788 by 11 families and 24 men led by Colonel Robert Patterson. Originally named Losantiville it was changed to Cincinnati on January 4, 1790. During the first forty years after its founding, Cincinnati experienced spectacular growth. By 1820, citizens, extremely proud of their city, were referring to it as The Queen City or The Queen of the West.
In the 19th century Cincinnati was an American powerhouse rivaling larger coastal cities economically. While the city developed with less European immigrants or influence than eastern cities attracted, the city received a significant number of German immigrants who eventually founded many of the local cultural institutions. By the mid 1800’s there were 30+ breweries producing over 35 million gallons of beer annually and exporting across the world. In 1890 Cincinnati was dubbed the “Beer Capital of the World”. Prohibition permanently shut down most breweries in Cincinnati but a recent resurgence in craft breweries has put the city back on the map. Tours of the old breweries are available today.
Over the past two centuries the greater Cincinnati area has grown into a major metropolitan city of 2.2 million residents. Cincinnati has the fastest growing economy in the Midwest with a Gross Metro Product of $119 Billion, median household income of $56,538 and a median home price of $152,000. There are several Fortune 500 businesses headquartered in the city, Kroger, Proctor & Gamble, Macy’s and GE Aviation, to name a few.
Cincinnati provides an excellent quality of life with the benefit of bigger city amenities coupled with an affordable cost of living. The city is home to the first professional baseball team with the Reds and also home to the Cincinnati Bengals of the NFL. Cincinnati is also striving to bring their amateur soccer team to the MLS. Over $3.5 Billion has been invested in downtown and surrounding urban areas since 2006 providing a wealth of entertainment. The historic Over The Rhine district in downtown offers world class restaurants, bars, shops and premium urban living. The Banks development on the riverfront in between the Reds and Bengals stadium offers restaurants, bars, beautiful apartments and office space.
The Arts scene is thriving with recently renovated Fountain Square, Music Hall and Museum Center. The city offers the second oldest Zoo in the United States and hosts plenty of community events such as Oktoberfest – in traditional German fashion, Goettafest – for a uniquely Cinci taste, Bockfest – because the city was built on beer, A Taste Of Cincinnati – because everyone loves food, The Festival of Lights – a Zoo Christmas tradition and recently, Blink – an artsy lightshow throughout downtown.
The city offers excellent transportation sharing the same major highways extending into NKY as well as a bus and a streetcar system downtown. Education is top notch with Xavier University, Northern Kentucky University, the University of Miami and Dayton University all in proximity.
Real Estate
With a median home price of $152,000 Cincinnati offers all of the above with an incredibly affordable cost of living compared to other big cities. There is something for everyone. With excellent transportation you can get from downtown to the surrounding communities in 10-15 minutes. There is excellent living along the river, in the urban core and in the suburbs. The city has several beautiful parks including Eden and Alt Park. Cincinnati suburbs such as Mt. Adams and Columbia Tusculum offer beautiful historic properties on the hill with sweeping views of the city and restaurants, bars, and shops all within walking distance. The community of Hyde Park and Oakley offers an urban feel with more room for a yard, still only 5 minutes from downtown.
Over the Rhine is one of the largest, most intact urban historic districts in the United States and offers beautiful architecture with muted Greek Revival, Italianate, and Queen Anne. The resurgence of “OTR” as its called is giving residents the opportunity to enjoy premium urban living. Communities such as Indian Hill and Madeira offer luxurious mansion and estates with expansive yards and gardens. Cincinnati also boasts a wealth of opportunity for investment property as people migrate back to urban dwelling. There really is something for everyone in Cincinnati.
