Real Estate Properties In Cincinnati Among Most Affordable In USA.
Remember him? The Roman politician Cincinnatus? Well the name Cincinnati was chosen in honor of him. Not only it is the first major American city founded after the American Revolution, but also it ranks highly among the most affordable cities in the nation.
Now, what are the factors that affect the affordability? The factors include Median Household Income, Median Home List Price, Median Home Sale Price, Median Rent, Cost per Gallon, Regular Gasoline or Cost of Monthly Transit Pass, Average Commute Time, Average Property Tax Burden, Sales Tax Rate, Insurance Costs and Special Issues, Insurance Costs and Special Issues. In addition to all these, two other factors that affect the affordability are Utility Cost Index and Cost of Living Index.
And, when we consider these factors, Cincinnati is well ahead of many other cities in the nation. Forbes is telling us that it made it to the list of ‘Top Five Most Affordable Cities in 2015’. Isn’t it great?
Plus, Cincinnati is home to 10 Fortune 500 companies and two Fortune 100 companies. What’s more to make it a good reason to relocate to this city? It’s the 9th best city for raising a family, and the 9th safest city in the U.S., according to the report of Forbes.
If you are asking yourself whether you can afford a home in this city, the answer is YES, YOU CAN. In fact, homeownership is cheaper than renting an apartment here.