A thriving economic and cultural hub of Ohio
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With a population of over 300,000, Cincinnati is the third-largest city in Ohio. Dubbed by BuzzFeed as “America’s Coolest City,” it has become an increasingly popular city for its unique cuisines and love of sports. The city’s metropolitan area has one of the fastest-growing economies in the US. It is attracting more and more job-seekers every day. The property market of Cincinnati is one with great potential and lots of investment opportunities.
Culture, History, and Business
Cincinnati was founded in 1788 when Colonel Robert Patterson, Mathias Denman, and Israel Ludlow bought and settled on an 800 acre land on the mouth of Licking River. Given its name in 1790, this town developed a reputation as an important meat-processing center in the early 1800s. Thanks to its steady population growth, by the late 19th century, it had become a significant political, industrial and educational hub in the US.
With a colorful culture enriched by its deeply rooted history, Cincinnati is a popular destination for tourists. Food makes up an integral part of the city’s culture. Its distinct selection of foods, most notably the Cincinnati Chili, is famous all over the globe. Also, the city is home to many major sports teams and is known for its artsy museums and galleries. Some famous cultural landmarks in the city include the Contemporary Arts Center, the National Underground Railway Freedom Center, and the Cincinnati Arts Museum.
Cincinnati is an important business center in the state of Ohio. Its metropolitan area is home to many Fortune 500 companies, including General Electric, Procter & Gamble, and The Kroger Company. Major industries of the city include manufacturing, insurance, trade, health and education services, and transportation. All of these contribute to the city’s healthy economic growth that has shown absolutely no signs of stagnation in recent years.
Real Estate Appeal
Cincinnati’s real estate market is one of the hottest in the US, with ample opportunities for buying and selling, as well as rental income. Being one of the great metro-cities of Ohio, both commercial and residential properties in this region are in high demand. Its vibrant culture and relatively low cost of living are continually attracting people from all over the US, leading to an ever-increasing need for housing.
With property prices generally being on the lower side compared to other major US cities, a price increase of 7.8 percent over the past year means that an investment in the real estate market of this city is not only pocket-friendly but also profitable. The city’s booming economy only goes to show that the future of this market is seemingly very bright.
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