Cleveland Real Estate Investment
Why you should be looking to Cleveland, OH to build your real estate portfolio
Cleveland Metro Population
2.088 Million People¹
Metropolitan Cleveland is the largest population and economy in the state of Ohio.²
- 890,105 Households³
- 5,107 people per square mile⁴
- 34th-largest metro area in the U.S. in terms of population⁵
Cleveland Housing Market
58.8% Rental Population⁶
Rents in Cleveland have increased by 10% over the last year and increased by about 20% over the past 3 years.⁷
- 5-year change in home prices: 51.8%⁷
- One-year change in home prices: 11.9%⁷
- The cost of living in Cleveland is 11% lower than the national average⁹
- 2nd Hottest Real Estate Market by Zillow®
Cleveland Job Market
37% of Fortune 500 Companies Present⁸
Cleveland has experienced a 6.5% growth in GDP YoY, and has been touted as being one of the most "recession resistant" markets to invest in.¹⁰
- Housing Affordability Index 243⁹
- Forbes® "Best Places For Businesses and Careers"
"We don’t know what we don’t know. And we like knowing, which is why we LOVE Cleveland. Make no mistake, there are biases when investing in any real estate market. Anyone who tells you differently isn’t being honest about it. So full disclosure, Turn-Key CLE loves where we buy and sell real estate. Fortunately for us, there are statistics and numbers that only strengthen those biases"
Rock and Roll Hall of Fame
Dedicated in 1995, the "Rock Hall" documents the history of Rock music, as well as musical artists, producers, and other notable individuals. It features interactive exhibits, meet and greets and a Summer Concert series.
Cleveland Museum of Art
The Cleveland Museum of Art (seen here from Wade Park) is one of the most visited art museums in the world. The museum provides general admission for free to the public and has over 61,000 works of art in its permanent collection.
West Side Market
Opening in 1840, the West Side Market is the oldest indoor/outdoor market space in Cleveland. The market features Neo-Classical architecture and provides nearly 185 stalls for sellers.
Cleveland Arcade
The Arcade, located in Downtown Cleveland, is one of the earliest indoor shopping arcades in the U.S. Opening in 1890, the Arcade was financed in part by John. D. Rockefeller, and provided 5 stories of retail shopping, along with two, nine story office buildings. The Arcade now houses the Hyatt Regency, while retaining some retail stores and a food court.
Major League Stadiums
Cleveland is home to 3 Major Professional sports teams, each with their own stadium/arena located Downtown.
The Cleveland Guardians (MLB), The Cleveland Browns (NFL), and The Cleveland Cavaliers (NBA)
Playhouse Square - Theater District
Playhouse Square is the largest performing arts center in the U.S. outside of New York City. First opened in the 1920's, the district features over 11 theatre's and a network of connecting atriums. The district is located in Downtown Cleveland and features the world's largest outdoor chandelier.
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¹US Census Bureau, “Decennial Census of Population and Housing,” Census.gov, August 18, 2022, https://www.census.gov/programs-surveys/decennial-census.html.
²“Cleveland,” The Center for Cleveland, https://www.centerforcleveland.org/cleveland.
³“Census Profile: Cleveland-Elyria, Oh Metro Area,” Census Reporter, https://censusreporter.org/profiles/31000US17460-cleveland-elyria-oh-metro-area/.
⁴“Cleveland, Ohio Population 2023,” Cleveland, Ohio population 2023, https://worldpopulationreview.com/us-cities/cleveland-oh-population.
⁵Jeff Rohde, “The Cleveland Real Estate Market: Stats & Trends for 2022,” Learn Real Estate Investing (Roofstock Realty, Inc. [CA License #01995170], July 1, 2022), https://learn.roofstock.com/blog/cleveland-real-estate-market.
⁶“Cleveland Ohio Housing Data,” Towncharts Housing data, https://www.towncharts.com/Ohio/Housing/Cleveland-city-OH-Housing-data.html.
⁷Jeff Rohde, “The Cleveland Real Estate Market: Stats & Trends for 2022,” Learn Real Estate Investing (Roofstock Realty, Inc. [CA License #01995170], July 1, 2022), https://learn.roofstock.com/blog/cleveland-real-estate-market.
⁸“Accelerating Success in Northeast Ohio,” Colliers, https://www.colliers.com/en/united-states/cities/cleveland#:~:text=More%20than%2037%25%20of%20Fortune,growth%20and%20increasing%20labor%20force.
⁹“Cleveland, OH,” Forbes (Forbes Magazine), https://www.forbes.com/places/oh/cleveland/?sh=a09bc037d1ba.
¹⁰Scott Suttell, “If a Recession Hits, Cleveland's Housing Market Has a Better Chance than Most to Stay Strong,” Crain's Cleveland Business, October 4, 2019, https://www.crainscleveland.com/scott-suttell-blog/if-recession-hits-clevelands-housing-market-has-better-chance-most-stay-strong.
