Cincinnati remains one of nation’s hottest apartment markets during peak rental season, report says
The Queen City ranked No. 15 in RentCafe’s latest report examining competition for apartments in large rental markets.
It comes as Cincinnati is seeing more apartment units enter the market with an influx of office-to-residential conversions, with no sign of demand slowing down. In July, a RentCafe market competivity report also found Cincinnati to be the 15th most sought-after rental market in the U.S.
Cincinnati saw 12 renters apply for the same vacant unit this summer, two above the national average.
The Cincinnati market also saw 94.6% occupancy for apartments during that time frame, with the apartment market seeing the same inventory crunch as the home market. Less than 1% of apartments on the market between April and June were new inventory.
Cincinnati was also the hottest in the state of Ohio. No other cities in Ohio made the top 20 most competitive markets.
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