The National Association of Realtors® reported on 6.2% price jump in home sale prices for the 2nd quarter of 2017. Locally sellers are enjoying increasing sale prices and shorter market times.
Based on the Foundations research, Ohio is a low-price state. Here a $100 will buy you goods that would cost $112.11 in a state at the national average price level. ….”Or you could think of this as meaning that Ohioans are, for the purposes of day-to-day living, 12 percent richer than their incomes suggest.”.
Keeping Current Matters took a look at information from the Tax Foundation and Ohio ranks #7 for a low cost of living. Kentucky ranks #5 and Indiana #16.
What does this mean for the average home owner in Cincinnati? We live in an affordable area and if you end up moving to a high-cost state, your real estate dollars will purchase a much smaller home. So while we don’t have wild appreciation in real estate values – more people can afford to own in our area.