There are currently 172,520 real estate properties in Cleveland, OH, with a median automated valuation model (AVM) price of $126,022.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Cleveland, OH, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Cleveland, OH, is $148,775.00, with the most expensive house in Cleveland, OH, topping out at $20,060,700.00 and the cheapest home in Cleveland, OH, clocking in at $10,011.00. In other words, there’s something for every potential homebuyer or savvy investor in Cleveland, OH!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Cleveland, OH, is on a rollercoaster ride. The average rent price in Cleveland, OH, is $1,221.00. Indeed, when looking to rent in Cleveland, OH, you can expect to pay as little as $500.00 or as much as $3,500.00, with the average rent median estimated to be $1,160.00. The good news is that finding an affordable and desirable property to rent in Cleveland, OH -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Cleveland is located in Cuyahoga, Ohio, with an estimated municipal population of 381,009 residents. All of the best foreclosed homes for sale in Cleveland are located in the following zip code areas on Foreclosure.com: 44135 44128 44119 44113 44112 44111 44110 44115 44114 44144 44127 44120 44104 44105 44106 44101 44102 44103 44108 44109 44181 44190 44191 44192 44193 44194 44195 44197 44198 44199. The estimated population per square kilometer (.62 miles) in Cleveland is 1,893.
So, about how much do homes cost in Cleveland? The most recent median value of resident-owned homes in Cleveland is 69,699. An estimated 41.6 percent of households in Cleveland own their homes, with an average family size of 3.13. The median household income in Cleveland is 30,907, with9.1 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Cleveland, the median commute time of resident workers (in minutes) is 24. And last, but certainly not least, are you looking for homes to rent in Cleveland? If so, the average rent price paid by renters in Cleveland is 719, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Cleveland, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Cleveland is 36.3, split between 48.1 percent male versus 51.9 female. The percentage of residents who report being married in Cleveland is 25.1, with an average family size of 3.13.
The percentage of residents who report their race in Cleveland is as follows:
| White | 40% |
| Black / African American | 48.8% |
| Asian | 2.6% |
| American Indian / Alaskan Native | 0.5% |
| Native Hawaiian / Other Pacifc Islander | 0.1% |
| Multi-racial | 4.4% |
| Other | 3.6% |
Looking for family-friendly neighborhoods in and/or near Cleveland? Or maybe you are searching for 55+ active adult communities in and/or near Cleveland?
The percentage of residents who report their age in Cleveland is as follows:
| Under 10 | 12.2% |
| Aged 10-19 | 12.4% |
| 20s | 16.6% |
| 30s | 13.1% |
| 40s | 11.4% |
| 50s | 13.8% |
| 60s | 11.2% |
| 70s | 5.7% |
| 80+ | 3.6% |
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Cleveland with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Cleveland.
How do you know that living in -- or moving to -- Cleveland is right where you need to be? Perhaps you grew up in Cleveland or already live nearby; therefore, the decision to buy a home in Cleveland is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Cleveland for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Cleveland:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Cleveland.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Cleveland can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Cleveland, meanwhile, can field multiple offers from more qualified buyers.
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