Cleveland Real Estate Market 2023: Housing Trends & Predictions

2023 Housing Market Overview

Cleveland Real Estate Market 2023

Cleveland Real Estate Market Overview

Metro Population: 2 M

Median Household Income:$32,000

Unemployment Rate:4.7%

Median Home Price*:$213,457

Median Monthly Rent*:$1,336

Cleveland, OH Real Estate Market 2023

Interested in investing in the Cleveland real estate market in 2023? On this page you’ll learn about housing market trends and statistics to help you make that decision.

About Cleveland

The city of Cleveland, located along numerous transportation routes as well as near large deposits of coal and iron ore, prospered during the late nineteenth century. In 1867, John D. Rockefeller and his partners began the Standard Oil Company in Cleveland. At the same time, Samuel Mather began steel production in the city, furthering its economic importance.

Since then, many other businesses have been established in Cleveland, including those specializing in banking, insurance and publishing. Its proximity to Lake Erie has also made it a major port for freight ships.

Cleveland is located near the mouth of the Cuyahoga River and covers 100 miles (160 km) along Interstate 90, including parts of Cuyahoga, Lake, Geauga, and Medina counties and more than 70 suburban communities. In recent years, Downtown Cleveland has undergone an economic renaissance with over $19 billion in development completed or planned.

Cleveland’s healthcare economy is also one of the fastest growing in the United States thanks to its world-class hospitals such as University Hospitals Case Medical Center.

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Major Employers in Cleveland

Cleveland Housing Market News

  • One of 10 cities where most homebuyers pay cash - Moneytalksnews
  • One of 10 US cities with the cheapest mansions for sale in 2022 - Realtor
  • Investors bought a record share of homes in Cleveland last year - The Washington Post
  • More opportunity Zone developers shifting to Cleveland’s East Side - Crains Cleveland
  • "#1 City to Buy Home for Best Rental Return" - CNBC
  • "#4 City Where Your Paycheck Will Go the Furthest" - Forbes
  • "#10 Best City for First Time Home Buyers" - Business Insider
  • "Cleveland Real Estate Market Trends" - Movoto
  • "Ohio Best State for Start-Up" - Forbes
  • "Relocating to Cleveland Guide " - The Schuman Team
  • "#84 Best Place to Live" - U.S. News

Property Teams

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Sample properties

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Disclaimer: The information provided on this page is for educational purposes only. RealWealth makes no warranty or representation as to the accuracy, completeness or reliability of this information. Please be advised that this content may contain errors, is subject to revision at all times, and should not be relied upon for any purpose. Under no circumstances shall RealWealth be liable to you or anyone else for damage stemming from the use or misuse of this information.

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