Side-by-side comparison of Cleveland, OH and Columbus, OH — cap rates, rent, prices, and investment metrics.
Cash flow: Cleveland has the edge with an estimated cap rate of 4.02% compared to Columbus's 2.87%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $240,000 in Cleveland vs $320,000 in Columbus, while rents come in at $1,390/mo and $1,480/mo respectively. For context, the national average cap rate is 3.81% and average price is $333K.
Growth & appreciation: Columbus is growing faster at 1.2% annually, while Cleveland is losing population. Columbus leads on home value appreciation at 3.2% per year.
Costs & risk: Property taxes are 1.63% in Cleveland vs 1.56% in Columbus. Vacancy rates of 7.2% and 5.7% are mixed — Columbus has the tighter rental market.
Entry point: Cleveland offers a lower entry at $240K vs Columbus's $320K — a difference of $80K. With a 20% down payment, that's $48K vs $64K. Cleveland combines the lower price with a higher cap rate — a compelling combination.
Bottom line: Columbus edges out Cleveland on most key metrics. While cap rates are moderate at 2.87%, Columbus's overall profile is stronger. Use our free calculators to model specific deals in Cleveland or Columbus.