Side-by-side comparison of Toledo, OH and Cleveland, OH — cap rates, rent, prices, and investment metrics.
Cash flow: Toledo has the edge with an estimated cap rate of 5.11% compared to Cleveland's 4.57%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $135,000 in Toledo vs $175,000 in Cleveland, while rents come in at $920/mo and $1,100/mo respectively.
Growth & appreciation: Cleveland is growing faster at -0.1% annually, while Toledo is losing population. Cleveland leads on home value appreciation at 2% per year.
Costs & risk: Property taxes are 1.65% in Toledo vs 1.63% in Cleveland. Vacancy rates of 7.5% and 7.2% are both elevated, warranting conservative cash flow projections.
Bottom line: Cleveland edges out Toledo on most key metrics. While cap rates are moderate at 4.57%, Cleveland's overall profile is stronger. Use our free calculators to model specific deals in Toledo or Cleveland.