These Are Ohio's 10 Most Affordable Places to Live, and Three Are in Greater Cincinnati

Just because it's affordable doesn't mean it's easy to buy a house here, though.

click to enlarge The Delhi Historical Society - Photo:
The Delhi Historical Society

The Greater Cincinnati area is one of the most affordable in Ohio, according to a new study from SmartAsset.

SmartAsset released its eighth annual study analyzing the top 10 most affordable places in Ohio, and three Greater Cincinnati neighborhoods made it onto the list. Delhi Hills in Delhi Township ranked second, while Northbrook in Colerain Township and North College Hill ranked ninth and 10th, respectively. Delhi Hills dropped from first place in 2022's rankings, being replaced by Fostoria in Northwest Ohio.

To determine their results, SmartAsset looked at closing costs, real estate taxes, homeowners insurance and mortgage rates and compared those across the country in cities with a population of 5,000 or more. They took the last five-years into account when determining the cost of owning a home and compared that to an area's median household income.

Here's how the numbers break down:

Delhi Hills:
  • Average annual mortgage payment: $7,799
  • Average closing cost: $2,279
  • Annual property tax: $2,939
  • Annual homeowner's insurance: $853
  • Median income: $92,301
  • Affordability index: 68.32

  • Average annual mortgage payment: $4,692
  • Average closing cost: $2,142
  • Annual property tax: $1,528
  • Annual homeowner's insurance: $513
  • Median income: $49,731
  • Affordability index: 60.98

North College Hill:
  • Average annual mortgage payment: $4,676
  • Average closing cost: $2,139
  • Annual property tax: $1,588
  • Annual homeowner's insurance: $511
  • Median income: $49,564
  • Affordability index: 60.33

That doesn't necessarily mean there's a ton of home stock out there though. The United States' housing market continues to see a low inventory of homes and mortgage rates that are crawling upward, hindering affordability for buyers, and Greater Cincinnati is no exception. At the time of this publication, a search on Zillow yielded just four properties for sale in Delhi Hills, three already under contract. In Northbrook the inventory was a little more robust with 19 properties, but only seven of those were not under contract. And in North College Hill, there were 18 properties listed, but 10 were under contract.

See the full results of SmartAsset's study here.

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