East Cleveland, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating East Cleveland Neighborhoods Since 2000




East Cleveland, OH Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

East Cleveland Housing Market Information

With a population of 17,344, 8,086 total housing units (homes and apartments), and a median house value of $67,713, house prices in East Cleveland are some of the most affordable in Ohio as well as the nation.

Large apartment complexes or high rise apartments are the single most common housing type in East Cleveland, accounting for 37.19% of the city's housing units. Other types of housing that are prevalent in East Cleveland include single-family detached homes ( 30.91%), duplexes, homes converted to apartments or other small apartment buildings ( 23.22%), and a few row houses and other attached homes ( 8.27%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

East Cleveland is dominated by renter-occupied one, two, or no bedrooms apartments. 67.31% of East Cleveland's dwellings are rentals.

The housing in East Cleveland was primarily built before 1939 ( 50.42%), making the housing stock in East Cleveland some of the oldest overall in America, although there is a range of ages of homes in East Cleveland. The next most important housing age is between 1940-1969 ( 40.68%), followed by between 1970-1999 ( 8.30%).

Vacant housing appears to be an issue in East Cleveland. Fully 38.43% of the housing stock is classified as vacant. Left unchecked, vacant East Cleveland homes and apartments can be a drag on the real estate market, holding East Cleveland real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

East Cleveland Home Appreciation Rates

Homes have actually lost value in East Cleveland over the last then years, as home values have seen a decline of 20.61% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows East Cleveland home appreciation rates at -0.21%, which equates to an annual appreciation rate of -0.82%.

Appreciation rates are so strong in East Cleveland that despite a nationwide downturn in the housing market, East Cleveland real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, East Cleveland appreciation rates continue to be some of the highest in America, at 9.93%, which is higher than appreciation rates in 93.71% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in East Cleveland. East Cleveland appreciation rates in the latest quarter were at -0.21%, which equates to an annual appreciation rate of -0.82%.

Relative to Ohio, our data show that East Cleveland's latest annual appreciation rate is higher than 90% of the other cities and towns in Ohio.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within East Cleveland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in East Cleveland - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best East Cleveland real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$67,713

East Cleveland, OH HOME PRICES

Value Range
> $1,141,000 0.2
$856,001 - $1,141,000 0.0
$570,001 - $856,000 0.0
$456,001 - $570,000 0.0
$342,001 - $456,000 0.0
$228,001 - $342,000 3.3
$114,001 - $228,000 12.2
$57,001 - $114,000 53.2
$0 - $57,000 31.1

Very Low for OH
Very Low for Nation

Value Relative to Nation Value Relative to State
96.0887144029064 97.9002624671916

Number Of Homes And Apartments:
8,086

East Cleveland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
-5.36% -0.32% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$766 / per month

Homeownership Rate

Homeownership
Owners 32.69
Renters 67.31
Vacant 38.43

Housing Market Details

 

Age of Homes

AGE OF East Cleveland HOMES
2000 or Newer 0.6
1970 - 1999 8.3
1940 - 1969 40.7
1939 or Older 50.4

Types of Homes

TYPE OF East Cleveland HOMES
Single-Family 30.9
Townhomes 8.3
Small Apt. Buildings 23.2
Apt. Complexes 37.2
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF East Cleveland HOMES
No Bedroom 3.16
1 Bedroom 25.13
2 Bedrooms 37.75
3 Bedrooms 20.33
4 Bedrooms 9.50
5 or more bedrooms 4.13