How much is a home worth in ZIP code 45238?

The typical home in 45238 is worth $221,691, based on the Zillow Home Value Index.

Are home values rising in 45238?

Home values in 45238 are up 1.5% over the past year, and up 6.0% a year over five years.

What is the typical rent in 45238?

A typical home in 45238 rents for about $1,033 a month, a gross rental yield of 5.6%.

What is the property tax rate in 45238?

The effective property tax rate in 45238 is 1.4% — roughly $3,200 a year on a typical home.

ZIP code 45238 has a population of 48,351 and a median household income of $66,277.

HousingHandbookReference data

…

U.S. ZIP Code · OH45238

Hamilton County · Cincinnati, OH-KY-IN

Typical home value

$221,691^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.5%
5-year / yr: +6.0%
10-year / yr: +7.6%

Relative price

vs U.S.: -22.0%
vs metro: -21.9%
vs state: +1.4%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 45238 is worth $221,691 — 21.9% below the Cincinnati, OH-KY-IN median. Over the past year, values have risen 1.5%. Homes here rent for a typical $1,033 a month — a 5.6% gross rental yield. The effective property tax rate is 1.4%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,033^[2]
Gross yield: 5.6%^[2]
Cap rate: 3.4%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 1.4%^[3]
Typical annual tax: $3,200^[3]

#Climate risk

FEMA National Risk Index ratings for Hamilton County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively High
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: Relatively Low
Heat wave: Relatively High
Hurricane: Very Low
Tornado: Very High
Earthquake: Relatively Moderate
Winter weather: Relatively High

#Who lives here

Population: 48,351^[3]
Median household income: $66,277^[3]

#Migration

Household moves in and out of Hamilton County over a year, from IRS tax-return data.

Net migration: -1,903^[5]
Moved in: 18,761
Moved out: 20,664

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 7
Elementary: 3
Middle: 1
High: 3

Western Hills University High School
High · Grades 7–12 · Cincinnati Public Schools
1,352 students
Gilbert A. Dater High School
High · Grades 7–12 · Cincinnati Public Schools
895 students
Dater Montessori School
Elementary · Grades PK–6 · Cincinnati Public Schools
754 students
Delhi Middle School
Middle · Grades 6–8 · Oak Hills Local
530 students
Delshire Elementary School
Elementary · Grades PK–5 · Oak Hills Local
453 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield5.6%

Net yield (after ~40% expenses)3.4%

Annual rent$12,395

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,121

Loan principal$177,352

Down payment$44,338

Total interest paid$226,203

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.52

Monthly cost to own$1,572

Monthly rent$1,033

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 61st percentile^[1]
Rental yield: 33rd percentile^[2]
Property tax: 78th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 45238?: The typical home in 45238 is worth $221,691, based on the Zillow Home Value Index.
Are home values rising in 45238?: Home values in 45238 are up 1.5% over the past year, and up 6.0% a year over five years.
What is the typical rent in 45238?: A typical home in 45238 rents for about $1,033 a month, a gross rental yield of 5.6%.
What is the property tax rate in 45238?: The effective property tax rate in 45238 is 1.4% — roughly $3,200 a year on a typical home.
Who lives in 45238?: ZIP code 45238 has a population of 48,351 and a median household income of $66,277.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

45251 vs 45238 →
Northgate CDP, OH
Typical home
$223,814
Gross yield
8.0%
45231 vs 45238 →
New Burlington CDP, OH
Typical home
$218,095
Gross yield
9.2%
45223
Cincinnati, OH
Typical home
$225,755
Gross yield
6.9%
45207
Cincinnati, OH
Typical home
$226,213
Gross yield
8.6%
45032
Harveysburg, OH
Typical home
$227,140
Gross yield
—
45224
Cincinnati, OH
Typical home
$215,011
Gross yield
7.1%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

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Pit ZIP 45238 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · OH45238

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