Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Ohio > Cincinnati
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 05-20-2013, 09:46 AM
 
13 posts, read 35,295 times
Reputation: 12

Advertisements

Is it just me or has there been a sudden surge on home rental costs in NKY/ Greater Cincinnati? We moved here about two years ago and there were a ton of properties, however now that our landlord has decided up our rent several $100 a month, we can't seem to find any available properties and if we do, there are about 3 other families going after the same house. That is not mention the fact that rental rates seemed to have gone up drastically as well. Did I miss something here?
Reply With Quote Quick reply to this message

 
Old 05-20-2013, 11:17 AM
 
3,763 posts, read 12,494,291 times
Reputation: 6852
Several possibilities:

could be that lower priced homes have been purchased by investors (to be turned into rentals at a profit, or flipped for a profit, or whatever..) -- driving more "starter home" people into rentals.

or could be that more millenials are getting jobs/moving out -- driving more people into rentals...

or more foreclosures are getting pushed through - driving more people into rentals.

but whatever the reason, yes - rentals are more scarce than they once were - driving up prices. (scarcity tends to do that).

As the housing market (in general) is beginning to recover, this could go on to increase demand in starter homes.. and then homes in general..
Reply With Quote Quick reply to this message
 
Old 05-20-2013, 03:08 PM
 
Location: Chicago(Northside)
3,686 posts, read 7,185,197 times
Reputation: 1697
I agree my sister bought a house not a rental in cincinnati and she told me she was going up against 4 or 5 other families.
Reply With Quote Quick reply to this message
 
Old 05-20-2013, 04:18 PM
 
Location: Indianapolis and Cincinnati
682 posts, read 1,622,472 times
Reputation: 611
Many of the investor types booked after the housing bubble and many properties were trashed/vandalized. The banks have to put money back into them or they dump them and they generally go low income. Several neighborhoods in Cincinnati are undergoing a lot of restoration and greater owner occupancy and many homes in my neighborhood they were rentals are now owner occupied. Real estate prices are going up and that means rental prices are too.
Reply With Quote Quick reply to this message
 
Old 05-20-2013, 04:43 PM
 
1,295 posts, read 1,898,557 times
Reputation: 693
On the surface, this sounds good for the local economy. Would be pretty nice if we see population growth next census.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Ohio > Cincinnati
View detailed profiles of:

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top