Investment metrics, interactive calculators, and data-driven analysis for Cleveland rental properties.
Pre-filled with Cleveland medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Cleveland.
Cleveland, OH has a population of 372,624 and has been growing at -0.1% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $175,000 paired with median rents of $1,100/mo produces an estimated cap rate of 4.57%.
Property taxes at 1.63% are notably high and represent a significant drag on cash flow — model this expense carefully, as it can make or break a deal. The vacancy rate of 7.2% runs above average, which increases cash flow volatility and warrants conservative underwriting.
At a price-to-income ratio of 5.0x, homes cost about 5.0 times the local median income of $35,200. This moderate ratio indicates a balanced rent-vs-buy market. Home values have appreciated at roughly 2% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Cleveland presents moderate opportunities. Cap rates near 4.57% mean deals need careful sourcing — look for value-add rehabs or emerging neighborhoods where rents are climbing.