Cleveland, OH
Cuyahoga County · Pop. 362,656
Ranked #51 of 243 cities
52Moderate
Median Home Price
🏠$120K
3.0% YoY
Median Rent
🔑$950
2.5% YoY
Median Income
💰$32K
Rent Burden
📊35.5%
% of income to rent
Income to Buy
🏦$35K
annual income needed
Income to Rent
📝$38K
annual income needed
Price-to-Income
⚖️3.8x
Homeownership
🏡40.0%
Rent vs. Buy
Buy
$639/mo
Est. mortgage (7%, 20% down)
Need $35K/yr income
Rent
$950/mo
Median rent
Need $38K/yr income
How Cleveland Compares
| Metric | Cleveland | Ohio | National |
|---|---|---|---|
| Home Price | $120K | $220K | $410K |
| Rent | $950 | $1,014 | $1,500 |
| Income | $32K | $68K | $75K |
| Rent Burden | 35.5% | 29.5% | 30.0% |
Key Takeaways
- • Home prices in Cleveland are 71% lower than the national average.
- • Rent is 37% lower than the national average.
- • You need an income of $35K to comfortably buy a home here.
- • The homeownership rate is 40.0%, compared to 65.0% nationally.