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Cleveland

Learn about the people, housing, costs and businesses in Cleveland

Median Home$227,290
Median Rent$1,186/month
Population2,171,526
Leading IndustryRetail14% of local workforce
Home Value Growth⬆⬆+17.0% over 2 years
Retirees20% of residentsslightly above average
Homeowners67% of occupied units
NotableAmenity Score70/100 · highly walkable area
Cleveland

Frequently Asked Questions

What are today's mortgage rates in Cleveland?

Mortgage rates for Cleveland are updated daily on Safe Rate using live investor pricing. Rates depend on your credit score, loan type (Conventional, FHA, VA, Jumbo), and down payment. A 30-year fixed rate is the most common product for home purchases.

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What is the median home price in Cleveland?

The median home value in Cleveland is $227k. The median monthly rent is $1,186. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Cleveland?

Home values in Cleveland have increased 17.0% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Cleveland?

Based on a typical all-in ownership cost of $1,203/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $52k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Cleveland is $80k/year.

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What industries drive the economy in Cleveland?

The largest employment sectors in Cleveland are public administration (25%) and retail (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.