Cincinnati, Ohio Short-Term Rental Market
Cincinnati STRs averaged $165/night at 59.1% occupancy in April 2026 across approximately 5,116 active listings.
Quick Answer: Cincinnati, Ohio is an active short-term rental market. average occupancy is 59%. average monthly revenue is $2,651. average daily rate is $165. the top operator is Liberty Hill Management with 170 listings. market score is 87/100 (grade A).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Cincinnati’s short-term rental market encompasses approximately 5,116 active listings as of April 2026, reflecting the broader Greater Cincinnati region including Northern Kentucky. The market posted an average daily rate of $164.55 and occupancy of 59.1% in the most recent data month (April 2026), generating RevPAR of $97.31 and monthly revenue of $2,651 per listing.
Year over year, occupancy improved 2.1 percentage points while ADR dipped slightly (-0.9%), producing a strong revenue gain of 7.1%. The revenue growth reflects the occupancy recovery more than rate increases, consistent with post-2023 stabilization following the 2021-2022 rate spike.
The listing mix is predominantly entire-place: 4,473 of 5,116 active listings (87.4%) are entire-place rentals, with 636 private rooms and 7 shared rooms. By bedroom count, studio and one-bedroom units are the largest segment at 2,104 listings, followed by two-bedrooms (1,374), three-bedrooms (880), four-bedrooms (483), and five-bedroom-plus units (262). On distribution channels, 2,715 listings are Airbnb-only, 2,190 are dual-listed on both Airbnb and VRBO, and 211 are VRBO-only.
Cincinnati’s market score of 86.78 out of 100 is the highest of the five markets in this batch. The rental demand score of 86.0 and seasonality score of 82.31 are both exceptional, driven by the city’s 25.9 million annual visitors, MLB and NFL game traffic, and a strong convention center.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 48% | $106 | $1,503 |
| Feb | 55% | $110 | $1,526 |
| Mar | 59% | $123 | $1,966 |
| Apr | 60% | $132 | $2,115 |
| May | 60% | $139 | $2,204 |
| Jun | 67% | $143 | $2,535 |
| Jul | 69% | $141 | $2,632 |
| Aug | 63% | $136 | $2,415 |
| Sep | 60% | $133 | $2,147 |
| Oct | 59% | $137 | $2,233 |
| Nov | 54% | $127 | $1,904 |
| Dec | 54% | $123 | $1,882 |
Top Short-Term Rental Operators in Cincinnati
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Liberty Hill Management | 170 | 16,967 | ★ 4.80 |
| 2 | Plum Tree Property Management | 148 | 5,216 | ★ 4.80 |
| 3 | Grand Welcome | 129 | 5,853 | ★ 4.72 |
| 4 | Casual Nomad | 113 | 1,262 | ★ 4.18 |
| 5 | Drew & Ingrid Group | 102 | 11,494 | ★ 4.88 |
What Kind of STR Should I Buy in Cincinnati?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,104 |
| 2 bed | 1,374 |
| 3 bed | 880 |
| 4 bed | 483 |
| 5 bed | 262 |
ADR by Property Tier
| Entire Home | $177 |
| Luxury | $299 |
| Professionally Managed | $180 |
Revenue by Dwelling Type
| Apartment | $2,131 |
| Entire Place | $2,830 |
| House | $3,188 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 53.1% |
| vrbo | 4.1% |
| both | 42.8% |
Investment Analysis
Cincinnati presents one of the more accessible STR investment entry points among major Midwest cities. At a typical home value of $252,784 and monthly revenue averaging $2,651, the implied gross annualized revenue of approximately $31,812 produces a gross yield of roughly 12.6% before expenses and taxes. That is based on the April 2026 monthly average applied to 12 months; the seasonal spread is moderate, so the annualized estimate is reasonably representative.
Tier data shows significant upside for higher-end and professionally managed properties. Luxury-tier listings average $299.48 per night versus $164.55 for all listings, and professionally managed properties average $180.27 per night, a $15.72 premium over the market average. Revenue by property type shows houses averaging $3,188 per month, entire-place listings $2,830, and apartments $2,131. The $1,057 gap between houses and apartments reflects strong demand for full-home rentals among sports and event visitors.
Housing market context from the April 2026 snapshot shows a median sale price of $239,167 against a median list price of $268,000, with a sale-to-list ratio of 0.892 and median days to pending of 8. Homes are selling below list price on average in Cincinnati, which can create negotiating leverage for buyers compared to tighter markets.
Annual revenue trends show growth from $2,344 in 2023 to $2,555 in 2024 and $2,576 in 2025, with ADR holding at $158 in 2024 and $157 in 2025 after the post-pandemic peak of $151 in 2022. The market score for investability is 78.46, solid but below the rental demand and seasonality scores, partly reflecting regulatory registration costs and the moderate ADR environment.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Cincinnati guests book an average of 37.5 days in advance and stay an average of 3.89 nights. The 37-day lead time is consistent with an event-driven urban market, where demand is tied to specific dates (Bengals/Reds games, conventions, festivals) that guests plan for a few weeks to a month out.
The 3.89-night average stay is typical for urban markets mixing weekend sports trips, short business stays, and multi-night event visits. It implies roughly 7 to 8 turnover cycles per month at average occupancy, moderate turnover relative to mountain or beach markets where multi-week stays are common.
For pricing, the 37-day booking window suggests that demand is fairly predictable at the 4-to-6-week mark. Hosts who monitor the Bengals and Reds home schedules and upcoming convention bookings can price specific dates several months out with confidence. Oktoberfest Zinzinnati in September and major sporting events are the highest-leverage pricing windows in the calendar year.
Short-Term Rental Regulations
Cincinnati requires every short-term rental unit to register with the City before operating. Registration is handled online through the City’s OpenCounter portal at a cost of $250 per unit and is valid for three years (not annual, unlike most markets). Operators self-certify code compliance at registration; no in-person inspection is required. The registration number must appear in all online listings, and the printed permit and a Short-Term Rental Advisory must be displayed inside the unit.
There is no owner-occupancy or primary-residence requirement. Every STR must designate a responsible person with a residence or place of business within 50 miles to handle complaints or emergencies. Occupancy is capped at 2 guests per bedroom (2 for studios). Multi-unit buildings of 5 or more units face concentration caps: 4 STR registrations are permitted, plus 1 additional per every 4 units beyond 4 (e.g., a 12-unit building can register up to approximately 6 units as STRs).
Cincinnati imposes a 7% short-term rental excise tax on gross revenues, filed quarterly. Airbnb collects and remits this tax on behalf of hosts using the Airbnb platform; operators on VRBO or other platforms must report and remit independently. Enforcement is escalating-fine based: $300 for operating without registration, rising to $750 per day for continued non-compliance. Tax violations carry a $500 fine, and registration can be suspended or revoked with a 12-month ban on re-registration plus a misdemeanor prosecution option. The current framework was established under Ordinance 125-2019; no major overhaul has been identified since.
Market Comparison
Cincinnati’s April 2026 occupancy of 59.1% modestly exceeds the U.S. STR market median of approximately 55%, and its 2025 annual average occupancy of 57.7% is consistent with above-median demand for an inland Midwest metro. The ADR of $164.55 is below the approximate U.S. median of $220, which is expected for a market without premium coastal or mountain positioning.
The overall market score of 86.78 is the highest in this batch of five markets and indicates strong fundamentals across rental demand (86.0) and seasonality stability (82.31). The revenue growth score of 64.97 is the one softer metric, reflecting ADR that has been essentially flat since 2022 after the post-pandemic surge.
Professional management is present but not dominant. Liberty Hill Management leads with 170 listings, 16,967 reviews, and a 4.801 rating. Plum Tree Property Management operates 148 listings with a 4.799 rating. Drew and Ingrid Group manages 102 listings with the highest rating among the top five at 4.875 stars across 11,494 reviews. The top five operators collectively manage 662 listings, approximately 12.9% of the roughly 5,116 active listings, a moderate consolidation rate.
Frequently Asked Questions About Cincinnati, Ohio
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