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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 43,898 people, 15,980 houses or apartments, and a median cost of homes of $167,802, 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 58.48% 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 ( 19.39%), large apartment complexes or high rise apartments ( 16.97%), and a few mobile homes or trailers ( 2.68%).
The most prevalent building size and type in Cleveland are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 43.94% owning and 56.06% renting.
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 ( 27.18%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.32%). There's also some housing in Cleveland built before 1939 ( 7.40%).
Vacant housing appears to be an issue in Cleveland. Fully 10.15% of the housing stock is classified as vacant. Left unchecked, vacant Cleveland homes and apartments can be a drag on the real estate market, holding 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.
Real estate appreciation rates in Cleveland's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.14% during the period.
Over the last year, Cleveland appreciation rates have trailed the rest of the nation. In the last twelve months, Cleveland's appreciation rate has been 1.07%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cleveland were at 1.11%, which equates to an annual appreciation rate of 4.52%.
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.
|$788,001 - $1,050,000||0.8|
|$525,001 - $788,000||2.0|
|$420,001 - $525,000||1.8|
|$315,001 - $420,000||5.0|
|$210,001 - $315,000||15.2|
|$105,001 - $210,000||43.6|
|$53,001 - $105,000||22.7|
|$0 - $53,000||8.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Cleveland HOMES|
|2000 or Newer||17.3|
|1970 - 1999||48.1|
|1940 - 1969||27.2|
|1939 or Older||7.4|
|TYPE OF Cleveland HOMES|
|Small Apt. Buildings||19.4|
|SIZE OF Cleveland HOMES|
|5 or more bedrooms||3.22|