Real Estate in Cleveland
The average Single Family Home in Cleavland sells for around 60K asnd average rent is around $1,200 a month. Owner occupied properties are at 40% creating a great cash flow market. Last year, Cleveland’s market saw a staggering growth of over 11%, making it one of the nation’s best performing markets. Most of the market is made up of old single family homes, 85% of which were built before 1969.
Best Price-to-Rent Ratio!
This indicator is the ratio of cost of a property price vs the rent that the same property would earn. Put simply: in the greater Cleveland real estate market you’ll get more return (rent) on your investment property than anywhere else in the country. Other primary markets across the U.S. have reached their pre-recession peak real estate values, and in many cases, have far exceeded those past peak values and are incredibly overheated markets. But Cleveland is just getting warmed up! What has been long favored as the fundamental real estate investment haven for cash-flow is now also being regarded as a great place for substantial appreciation due to the timing of a later-than-most market correction.
2019 – Forbes article describing Cleveland real estate 2019, click here to article.
One of the biggest advantages in the Cleveland market is that it is still possible to buy properties on C-B Class neighborhoods between 40K-100K. You can still place reliable tenants, like working families, and receive rents around 800-1400 a month.