Median rents, rental comps, and market trends across 20 zip codes in Cleveland, OH.
Deep cash flow market with entry prices that will genuinely surprise you. Healthcare is the anchor employer — the Cleveland Clinic alone is a rental demand engine. Not glamorous, but the cap rates don't need to be.
Median Asking Rent
$1,206
Rent Change (YoY)
-2.5%
Avg Days on Market
49
Active Rental Listings
3,324
Median List Price
$162,500
Average across 20 zip codes
ZIP | Median Rent |
|---|---|
| 44121 | $1,650/mo |
| 44113 | $1,571/mo |
| 44114 | $1,555/mo |
| 44115 | $1,500/mo |
| 44118 | $1,450/mo |
| 44135 | $1,450/mo |
| 44128 | $1,300/mo |
| 44107 | $1,275/mo |
| 44106 | $1,255/mo |
| 44120 | $1,200/mo |
| 44108 | $1,195/mo |
| 44111 | $1,150/mo |
| 44103 | $1,149/mo |
| 44105 | $1,100/mo |
| 44102 | $1,095/mo |
| 44119 | $1,085/mo |
| 44109 | $1,050/mo |
| 44104 | $1,000/mo |
| 44110 | $1,000/mo |
| 44112 | $850/mo |
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| Unit Size | Median Rent |
|---|---|
| Studio | $825/mo |
| 1 Bedroom | $887/mo |
| 2 Bedroom | $1,085/mo |
| 3 Bedroom | $1,399/mo |
| 4 Bedroom | $1,625/mo |
Aggregated median across all Cleveland zip codes with available data.
| ZIP | Median List Price |
|---|---|
| 44113 | $339,900 |
| 44107 | $320,000 |
| 44114 | $300,000 |
| 44106 | $289,900 |
| 44118 | $285,000 |
| 44121 | $194,000 |
| 44115 | $189,900 |
| 44111 | $182,000 |
| 44102 | $179,900 |
| 44109 | $170,000 |
| 44135 | $155,000 |
| 44119 | $149,999 |
| 44120 | $147,000 |
| 44128 | $120,000 |
| 44103 | $115,000 |
| 44108 | $110,000 |
| 44110 | $109,900 |
| 44112 | $104,900 |
| 44105 | $100,000 |
| 44104 | $99,900 |
| Unit Size | Fair Market Rent |
|---|---|
| Studio | $1,400/mo |
| 1 Bedroom | $1,590/mo |
| 2 Bedroom | $1,920/mo |
| 3 Bedroom | $2,470/mo |
| 4 Bedroom | $2,640/mo |
Fair Market Rents are published annually by HUD for the Cleveland metropolitan area. Local housing authorities use these to set Section 8 voucher payment standards, typically between 90% and 110% of the FMR.
The median asking rent across Cleveland, OH is currently $1,206/month, based on active rental listings across 20 zip codes. Median asking rents have decreased by -2.5% over the past 12 months.
Asking rents vary significantly across the city. ZIP 44121 has the highest median asking rent at $1,650/month, while ZIP 44112 comes in at $850/month.
Rental listings in the area spend an average of 49 days on market before being leased, suggesting a more tenant-friendly market.
The HUD Fair Market Rent for a 2-bedroom in the Cleveland metro area is $1,920/month. Current median asking rents are near or below the FMR for this area.
Cleveland is a pure cash flow play. Purchase prices are among the lowest of any major metro, and the rent-to-price ratios can be exceptional in the right neighborhoods. The Cleveland Clinic and University Hospitals are the economic anchors — healthcare employment here is massive and recession-resistant. Tremont, Ohio City, and Detroit Shoreway are the premium areas that have gentrified. East side neighborhoods offer the most aggressive cash flow numbers but require more careful property selection. Like Detroit, the difference between a great investment and a problem property can be a few streets. Cleveland rewards investors who do their homework on specific neighborhoods and don't just chase the best-looking spreadsheet.
Want to look up rental comps and rent estimates for a specific property in Cleveland? PropMetrics lets you search any address and get detailed rental data instantly.
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What rental comps are, what makes a good one, and how to use them to price your rental property accurately.
Fair market rent, Section 8, HUD... what does it all mean? A straightforward breakdown of how it works and why it matters.
A step-by-step guide to pricing your rental so it rents quickly without leaving money on the table.