This Old House: Ohio homes among the nation’s most affordable
UC professor says data shows Cincinnati is one of the nation’s hottest housing markets
Buying a house in Ohio requires a lower down payment than in almost any other state, This Old House found, but a University of Cincinnati professor said Ohio cities such as Cincinnati could see that affordability wane.
Gary Painter
This Old House analyzed median home sale price data from Redfin to calculate the down payment needed to purchase a house in each state and the largest American cities.
In Ohio, the median down payment required was $35,250, which was third lowest among all states behind only Iowa and Mississippi.
Among 50 of the largest metro areas in the nation, Cincinnati was 41st in the median down payment required to buy a house. The average down payment in the Queen City was $42,000.
Gary Painter, PhD, the academic director of the Carl H. Lindner College of Business real estate program and a professor of real estate, said cities such as Cincinnati are relatively affordable for people looking to buy a house. However, that could change in the near future.
“Given the relatively robust economy, a young household’s ability to afford a down payment in Cincinnati and other Ohio cities is quite high relative to regions of similar size across the United States,” Painter said. “Unfortunately, this might be changing as Zillow projects Cincinnati and Cleveland and the No. 2 and 3 hottest housing markets in the U.S. Unless new housing supply can keep up with this rising demand, Cincinnati and other Ohio cities will lose its affordability advantage that makes the region attractive to newcomers.”
As part of an expert tips and insights portion of the This Old House article, Painter encouraged people to start saving as early as possible if they want to purchase a house while providing additional advice.
“New home buyers should investigate FHA loans as well as conventional loans,” Painter said. “FHA loans may only require a 3% down-payment. Borrowers should keep in mind that if they have a down payment lower than 20%, they may have to pay mortgage insurance as well. However, the opportunity to purchase a home sooner might pay off in a market that is experiencing rapid appreciation. Once a homeowner has 20% in their home, then can often refinance and get rid of mortgage insurance.”
Featured image at top: Ariel photo of a residential community. Photo/Aiden Frazier via Unsplash
Impact Lives Here
The University of Cincinnati is leading public urban universities into a new era of innovation and impact. Our faculty, staff and students are saving lives, changing outcomes and bending the future in our city's direction. Next Lives Here.
Related Stories
Cincinnati sees record rainfall in weekend deluge
July 21, 2026
The Cincinnati Enquirer talks to UC College of Engineering and Applied Science Associate Professor Patrick Ray for context about a July 17 rainstorm that dumped a record amount of rain on parts of Cincinnati.
Putting preschool into perspective
July 20, 2026
Preschool and childcare can be difficult to navigate for parents, as Spectrum News 1 Ohio recently reported. Waitlists are long, and factors like cost, location and transportation can limit options. According to a recent study published by The Annie E. Casey Foundation, only 41% of 3- to 4-year-olds in Ohio were enrolled in preschool between 2020 and 2024 — a 4% decrease from pre-pandemic numbers. For University of Cincinnati early childhood education faculty member Chad Nunamaker, that statistic has caveats.
Ticks that survive pesticides can withstand colder winters
July 17, 2026
Ticks that survive less-than-lethal doses of pesticide are able to withstand dangerous cold, which could help them expand their range farther north, according to researchers at the University of Cincinnati and the U.S. Department of Agriculture.