Originally established as a retreat for the city's wealthy, the neighborhood is predominately residential, with a central business district known as Hyde Park Square.

[1] In 2010, Forbes named Hyde Park one of "America's Best Neighborhoods", citing the education levels of its residents and its high concentration of shops and restaurants.

[3] Shortly afterwards, population began to increase and in 1892, several prominent Cincinnati real estate businessmen, collectively known as the Mornington syndicate, capitalized on the new transportations to downtown and purchased much of the land to create a community exclusively for Cincinnati's wealthy, selling old parcels to residents who met such criteria.

[citation needed] Hyde Park is located on the eastern side of Cincinnati, approximately six miles away from the Central Business District.

[1] According to the U.S. Census American Community Survey, for the period 2016-2020 the estimated median annual income for a household in the neighborhood was $109,890.

[1] Hyde Park is a largely residential neighborhood, as such, its economy is focused towards small, privately-owned businesses.