Cleveland, TN 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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Cleveland Housing Market Information

With a population of 45,504, 16,317 total housing units (homes and apartments), and a median house value of $200,151, Cleveland real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Cleveland, accounting for 56.39% of the city's housing units. Other types of housing that are prevalent in Cleveland include duplexes, homes converted to apartments or other small apartment buildings ( 19.09%), large apartment complexes or high rise apartments ( 17.86%), and a few mobile homes or trailers ( 3.55%).

People in Cleveland primarily live in small (one, two or no bedroom) single-family detached homes. Cleveland has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Cleveland built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Cleveland built between 1940-1969 ( 24.24%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.09%). There's also some housing in Cleveland built before 1939 ( 5.96%).

Cleveland Home Appreciation Rates

Appreciation rates for homes in Cleveland have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 28.83%, which ranks in the top 50% nationwide. This equates to an annual average Cleveland house appreciation rate of 2.57%.

Appreciation rates are so strong in Cleveland that despite a nationwide downturn in the housing market, Cleveland real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cleveland appreciation rates continue to be some of the highest in America, at 5.04%, which is higher than appreciation rates in 72.31% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cleveland. Cleveland appreciation rates in the latest quarter were at 1.87%, which equates to an annual appreciation rate of 7.71%.

Relative to Tennessee, our data show that Cleveland's latest annual appreciation rate is lower than 80% of the other cities and towns in Tennessee.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Cleveland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in 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 Cleveland real estate investment or home purchase decisions.

Average Home Values

 
info

Median Home Value:
$200,151

Cleveland, TN HOME PRICES

> $1,219,000
1.3%
1.3%
$915,001 - $1,219,000
0.8%
0.8%
$610,001 - $915,000
1.4%
1.4%
$488,001 - $610,000
2.3%
2.3%
$366,001 - $488,000
5.8%
5.8%
$244,001 - $366,000
16.4%
16.4%
$122,001 - $244,000
42.8%
42.8%
$61,001 - $122,000
19.4%
19.4%
$0 - $61,000
9.9%
9.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for TN

Value Relative To Nation

Number Of Homes And Apartments:
16,317

Cleveland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
59.14% 2.26%
3
4
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$971 / per month

Homeownership Rate

Owners
43.3%
43.3%
Renters
56.7%
56.7%
Vacant
8.4%
8.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
21.1%
21.1%
1970 - 1999
48.7%
48.7%
1940 - 1969
24.2%
24.2%
1939 or Older
6.0%
6.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
56.4%
56.4%
Townhomes
3.1%
3.1%
Small Apt. Buildings
19.1%
19.1%
Apt. Complexes
17.9%
17.9%
Mobile Homes
3.6%
3.6%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.5%
3.5%
1 Bedroom
9.4%
9.4%
2 Bedrooms
35.3%
35.3%
3 Bedrooms
36.6%
36.6%
4 Bedrooms
11.3%
11.3%
5 or more bedrooms
3.9%
3.9%
0.0% 100.0%
% OF HOMES