If you’re curious about the Cleveland, Ohio, real estate market, you’ve come to the right place. Here, you’ll find information on average home prices, condos and townhomes available, property taxes, and more.

In addition, we’ll take a look at some of the neighborhoods in Cleveland and what they have to offer. If you’re interested in waterfront properties, we’ll tell you where to look in Cleveland. Finally, we’ll give you some insight into what it’s like to live in this great city.

So, we’ve got you covered whether you’re just curious about Cleveland or ready to start your home search. Keep reading to learn everything you need to know about the Cleveland, Ohio, real estate market.

What county is Cleveland, OH, in?

Cuyahoga County is in northeastern Ohio and has 1,264,817 people as of 2020. Cleveland’s northern border is Lake Erie. Between 1995 and 2000, Cuyahoga County’s population decreased by about 1.3 percent. Cuyahoga County is now the second most populous county in Ohio, with an average of almost 2,800 people per square mile.

Cleveland is the county seat and largest city in Cuyahoga County, with 385,282 people calling it home in 2020. Cleveland has lost more than 30,000 people since 1990, but in recent years, that exodus has flattened, with just 2,500 residents leaving from 2021-2022. This decrease can be explained by manufacturing employment being on the decline for some time. However, Cleveland is still a significant hub for healthcare research and education.

Is Cleveland growing?

Cleveland’s population is declining primarily due to the exit of industrial companies. According to the U.S. Census Bureau, Cleveland’s population has been declining steadily since 2010 at 0.59% per year. The 2020 Census registered 372,624 residents, a drop of 5.65% over the decade. It’s fallen 60% since its peak in the 1950s.

Still, Cleveland remains the second-largest city in Ohio after Columbus and the 54th-largest city in the United States.

What are the Cleveland housing market trends?

Cleveland was projected to be among the hottest housing markets nationwide in 2023 and 2024 primarily because of its high housing prices. The home value in early 2024 was $215,597, compared to the national average of $347,415. It was among the top ten cities for housing appreciation, many of which were concentrated in the Midwest.

The attraction for Midwest living is primarily driven by the lower cost of living. People are realizing mid-size cities have a well-balanced quality of life, with the same entertainment and attractions of bigger metros like New York or Chicago. But this access to excellent health care, schools, dining, and museums comes a reduced price. Add in median home prices well below average, and it’s easy to see the attraction.

Cleveland’s revitalization efforts are showing some payoff in the housing sector. Primarily, this has been appreciation, as prices won’t grow unless there is high demand for homes from local buyers.

Median home price growth over 2023 and 2024 in Cleveland has been in the double-digits some months, even as national home sales slowed and prices started to stabilize.

As a snapshot in time, and to illustrate the housing demand, Cuyahoga County reported 6.5% year-over-year growth in the price of homes. The average sale price for the month was $279,108. The days on market dropped 6.7% to just 30 days, or about a month. Even as the housing supply increased thanks to a 9.3% bump in new real estate listings, the county had brisk sales activity. The supply of homes stood at 1.9 months.

The Cleveland real estate market remains dynamic, with specific pockets out-performing others in closed sales and pricing growth. The metrics to watch are job growth and population growth. If these increase and unemployment rates drop, the local housing market should continue current trends.

What is the median price of a home in Cleveland, OH?

Zeroing in on the Cleveland city limits, September 2024 reported 1,844 homes for sale. The median sale price of $105,000 in August 2024 demonstrates its affordability. The median list price was $143,000, up 23.4% year-over-year. Active listings ranged from $2,500 for a 6,400 square foot vacant lot to $2.1 million for a downtown penthouse condo with 4,378 square feet and lake views.

Are there any condos or townhomes available in Cleveland, OH?

As the demand for a balanced work-life-play lifestyle surges, condos and townhomes are becoming more popular. Cleveland is responding with steady growth in this market’s housing inventory, especially in its downtown core. September 2024 had 158 homes for sale. The prices ranged from $40,000 for a 775-square-foot condo to $2.1 million for a high-rise penthouse condo near downtown.

Much of the condo and townhome market is concentrated around Cleveland’s downtown area. Look in Ohio City, Tremont, MidTown, Downtown, and Edgewater Hill. However, you can find this lifestyle throughout the city.

What is the property tax rate for Cleveland, OH?

The residential effective property tax rate for Cleveland was 84.21 mils in 2023, or 2.65% of market value. Some neighborhoods had an additional tax assessment. Property taxes in Ohio are levied on a property’s full market value. A $100,000 home paid $2,650 in property taxes. That figure includes the Cuyahoga County tax rate. The tax rates in and around Cleveland are some of the highest in the state.

What neighborhoods are in Cleveland, OH?

There are many popular neighborhoods in Cleveland, Ohio. Each neighborhood has a unique character and different advantages. Some of the hottest neighborhoods to buy a home include Downtown, Ohio City, Tremont, and University Circle.

MidTown is another area undergoing revitalization. Historic buildings have readapted into thriving museums, dining venues, and entertainment here. These new buildings are juxtaposed with shiny new construction with residential and mixed-use options. Multi-family housing is more present here.

Ohio City lies on the main drag across from the Cuyahoga River west of downtown. Its Westside Market is the oldest operating public market, with many upstart restaurants and funky local shopping. The walkable community has a high demand for housing because of its balanced lifestyle and access to essentials like health care, shopping, and schools.

Irish, Welsh, and Eastern European immigrants founded the Broadway-Slavic Village. The redeveloping historic district is bringing in quality retail, restaurants, and cultural attractions. It now has an RTA station, public art installations, and concert halls.

Collinwood includes the Waterloo Arts District. Murals and creative works are found throughout the thriving cultural scene. Check out indie shops, dive bars, and lakefront access.

The Fairfax community has song seen a lot of recent redevelopment thanks to the Cleveland Clinic. This area is home to the country’s oldest African-American theater. Historic architecture and churches addto its heritage. It has ties to Langston Hughes and Jesse Owens.

Glenville is known as the home of Superman—or rather, his creators, Jerry Segall and Joe Schuster. The modern Glenville is a mixed-use complex with many boutiques and dining options. Locals also have access to Rockefeller Park and an arts campus.

The Hough neighborhood is between MidTown and University Circle. This community has a lot of history, as it operates the historical park and has the African-American Museum of Cleveland.

Little Italy is near the Case Western Reserve University campus and at the base of Murray Hill. It was first settled in the late 19th century by Italian artisans. It feels like you’re stepping into a European village with narrow streets and Italian eateries.

St Clair-Superior is another multicultural part of Cleveland. Here, you have a junction of manufacturing, unique dining options, and art and design. This neighborhood includes the AsiaTown district, which has cultures from around the globe.

Tremont is a residential-heavy part of Cleveland and is close to downtown. Beautifully restored Victorian homes add to the charm. Coffee shops, restaurants, boutiques, the oldest beer garden in Cleveland, and historic architecture surround residents.

University Circle is home to the Case Western Reserve University and the University hospitals. The neighborhood has ample green spaces, a collection of Cleveland’s museums, and some of its high-end restaurants. Demand makes its median home prices higher.

The West End neighborhood has its roots in Irish immigrants. You’ll see lots of Celtic touches in this neighborhood from the authentic Irish pubs in the names on the streets. Its location is between downtown and the airport.

North Coast Harbor is where the city meets the lake. There are many major attractions here, such as First Energy Stadium and the Rock ‘n’ Roll Hall of Fame. Residents have stunning views of these attractions and Lake Erie from their tall condos and high-rise apartments.

The Flats is another lakefront location that has undergone a multi-million dollar revitalization along its banks. It now has many bars, restaurants, shops, and park spaces. Sip a cold one at a craft brewery as you watch the shipping freighters navigate the Cuyahoga River’s sharp turn.

Are there any waterfront properties found in Cleveland, OH?

If you’re interested in living on the water, you’ll have options in the housing market. Cleveland is on the shore of Lake Erie, but you also have the Cuyahoga River and Rocky River running through the city. More choices are lakefront than on the rivers, as the Cuyahoga is highly industrial, especially downtown.

Lake Erie isn’t exactly well known for its beaches, so if you’re expecting real estate with beachfront, it’s not as likely in Cleveland. Much of the lakefront is developed for the shipping industry and commercial enterprises or preserved in a public park. Along the lake, you’ll find condos that will provide you with lakefront views.

If you prefer single-family homes, your options for Lake Erie homes increase as you move further away from downtown or inland along the rivers. Some neighborhoods you can look at are the Village of Bratenahl, Euclid, Bay Village, Lakewood, and Mentor on the Lake. Look in Rocky River (the community), Cuyahoga Heights, Brooklyn Heights, St. Clair-Superior, and Fairview Park for riverfront living. Note the average sale prices for lakefront homes trend above the Cleveland average.

How is golf in Cleveland, OH?

Golf in Cleveland is excellent! Residents have 67 courses in the greater metro area. Shawnee Hills Golf Course, Shaker Heights Country Club, and Big Met Golf Course are several great courses.

Cleveland Metroparks offers great public golfing with its eight courses conveniently located throughout Cuyahoga County. The courses range from popular par-threes to championship layouts, which are difficult even for the best golfers.

Are there golf course communities in Cleveland, OH?

Yes! Several golf course communities in Cleveland have the access and amenities you’d expect. Some of our favorites include Stonebridge Country Club and The Signature at Solon. Other choices include Quail Hollow and Red Tail. These communities offer world-class golfing amenities and beautiful homes.

In the suburbs around Cleveland await more golf course community choices. Look at the Barrington Estates and Golf Club, Shaker Heights Country Club, Briarwood Golf Course, and Highland Heights.

Are there any gated communities in Cleveland, OH?

Yes, you can choose from several gated communities in Cleveland. These communities offer a variety of amenities, including swimming pools, tennis courts, and more. For a gated community lifestyle, look in Hidden Woods, Pepper Pike, Sterling Lakes, Columbia Station, Lakes of Orange, Avon Lake, Westlake, and North Ridgeville. The Signature of Solon is also a gated golf course community.

What is it like to live in Cleveland, OH?

Cleveland is a great city for those who love the outdoors. Plenty of parks and green spaces encourage residents to be outside. A few beaches on Lake Erie encourage summer day swims, or give access to water sports like kayaking or sailing. A lively arts and culture scene includes several stage theaters and popular museums like the Rock’n’Roll Hall of Fame.

Don’t forget about the food! Cleveland’s amazing restaurants focus on local ingredients with global food traditions. It has strong European influences, from Eastern European delicacies to pasta dishes in Little Italy. Cleveland is a multicultural city, which adds to the city’s character.

The Cleveland Clinic, a renowned institution for medical innovation and research, is a major draw for people moving to the city. It makes the city a leader in health care.

What areas are near Cleveland, OH?

Many suburbs surround Cleveland, and lure people in with their own charms and attractions. These include boating access in locations from Avon Lake to Fairport Harbor. Popular suburbs include North Olmsted, Chagrin Falls, Shaker Heights, and West Lake.

The Cuyahoga Valley National Park has acres of preserved waterways and woodlands just south of the city. Within a 30-minute drive, feel a world away from the city with miles of trails for hiking, biking, and cross-country skiing.

Other cities to check out include Akron, Canton, and Youngstown. Each city is within a short drive of Cleveland and offers attractions and activities like the Stan Hywet Hall & Gardens and Ohio University.

Downtown Cleveland to Akron is about 40 minutes by car or 40 miles. Youngstown is about 75 miles away. Sandusky, known for Cedar Point Amusement Park, is about 62 miles away.

State capital Columbus is roughly a two-hour drive. The state’s largest city is home to The Ohio State University, another highly ranked college.

What should I know about living in Cleveland, OH?

Living in Cleveland has its pros and cons. On the plus side, you’ll have many great neighborhoods, often with a century-old history. These deliver delicious restaurants and attractions like live music venues and parks for recreation. Additionally, the property prices in Cleveland are relatively low compared to other major cities.

However, Cleveland does have areas to improve. A high poverty rate and crime rate may deter some people. In addition, the weather can be unpredictable; expect everything from blizzards to heat waves during the year.

Still, for the right person, Cleveland can be a great place to live. If you’re considering moving to this city, it’s important to weigh the pros and cons carefully and make sure it’s the best decision for you.