Department of Numbers

Cleveland Ohio Residential Rent and Rental Statistics

The median monthly gross residential rent in Cleveland, OH (the Cleveland-Elyria-Mentor metro area) was $746 in 2015 according to the Census ACS survey.1 Average gross rent in Cleveland was $762 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Cleveland median and average rent data will be released in September of 2017.

Data is also available below for Cleveland rental vacancy rates, Cleveland rent as a percent of median income and the fraction of renters in Cleveland.

Show dollars as: Nominal Real

Real Gross Rent in Cleveland Ohio (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Ohio Median Gross Rent $746 +2.05% +6.27%
Cleveland, OH Median Gross Rent $746 -0.27% +3.32%

Cleveland, OH Real Gross Rent Trends

Median gross rent for Cleveland peaked in real terms in 2008 at $774 and is now $28 (3.62%) lower. From a recent low of 722.0 in 2012, real median gross rent has now increased by $24 (3.32%). Average gross rent for Cleveland peaked in real terms in 2008 at $793 and is now $31 (3.91%) lower. From a recent low of 725.0 in 2012, real average gross rent has now increased by $37 (5.10%).

Real Gross Rent in Cleveland: Cleveland OH Median, Cleveland OH Average, Ohio Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Cleveland

Date US
Median
Ohio
Median
Cleveland, OH
Median
Cleveland, OH
Average
2015 $959 $746 $746 $762
2014 $930 $731 $748 $747
2013 $898 $704 $729 $750
2012 $886 $702 $722 $725
2011 $887 $705 $725 $742
2010 $901 $722 $752 $771
2009 $905 $720 $747 $749
2008 $920 $745 $774 $793
2007 $874 $712 $751 $756
2006 $883 $726 $760 $777
2005 $858 $722 $771 $773

Cleveland Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Cleveland Ohio was 5.98% according to Census ACS data.

Rental Vacancy Rate in Cleveland Ohio

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Ohio 5.56% -0.70% -1.52%
Cleveland, OH 5.98% -0.59% -2.28%

Trends in Cleveland, OH Rental Vacancy Rate

The rental vacancy rate in Cleveland peaked in 2005 at 11.59%. Since then it has fallen by 5.61% to 5.98%. Data records for this series originated in 2005.

Rental Vacancy Rate: Cleveland OH, Ohio, US

Rental vacancy rate in Ohio

Historical Rental Vacancy Rate data for Cleveland

Date US Ohio Cleveland, OH
2015 5.85% 5.56% 5.98%
2014 6.32% 6.26% 6.57%
2013 6.49% 6.15% 7.10%
2012 6.77% 7.08% 8.26%
2011 7.40% 7.89% 7.93%
2010 8.17% 9.45% 9.91%
2009 8.43% 9.17% 9.69%
2008 7.86% 9.68% 9.40%
2007 7.87% 10.00% 10.93%
2006 7.70% 10.68% 10.84%
2005 7.74% 10.37% 11.59%

Rent as a Fraction of Income

Using median household income data for Cleveland, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Cleveland, median monthly gross rent as a fraction of median household income was 17.54% in 2015 according to the ACS.

Cleveland Ohio Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Ohio 17.53% -0.36% -0.41%
Cleveland, OH 17.54% -0.55% -0.87%

Trends in Cleveland, OH Rent as a Fraction of Income

The fraction of median Cleveland household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 18.60%. Since then it has fallen by 1.06% to 17.54%.

Fraction of Income towards Rent: Cleveland OH, Ohio, US

Percent of median household income going towards median monthly gross rent in Cleveland Ohio

Historical Data for Annual Rent as a Fraction of Income in Cleveland Ohio

Date US Ohio Cleveland, OH
2015 20.63% 17.53% 17.54%
2014 20.89% 17.89% 18.09%
2013 20.78% 17.70% 17.85%
2012 20.65% 17.94% 18.40%
2011 20.70% 18.15% 18.60%
2010 20.50% 18.23% 18.53%
2009 20.12% 17.71% 18.37%
2008 19.00% 16.68% 16.90%
2007 18.66% 16.56% 16.87%
2006 18.90% 16.90% 17.17%
2005 18.89% 16.91% 17.72%

Renter Fraction in Cleveland Ohio

You can calculate the renter fraction in Cleveland in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Cleveland as a fraction of total Cleveland households. In 2015 35.46% of households were renters according to Census ACS data.

Cleveland Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Ohio 34.59% -0.08% +0.88%
Cleveland, OH 35.46% -0.16% +0.66%

Trends in the Cleveland, OH Renter Fraction

The Cleveland household renter fraction peaked in in 2014 at 35.62% and is now 0.16% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Cleveland OH, Ohio, US

Fraction of renters in Cleveland

History of Cleveland Renter Fraction

Date US Ohio Cleveland, OH
2015 36.97% 34.59% 35.46%
2014 36.90% 34.67% 35.62%
2013 36.50% 33.93% 35.15%
2012 36.09% 33.71% 34.80%
2011 35.42% 33.02% 34.56%
2010 34.65% 31.60% 32.35%
2009 34.13% 31.95% 33.61%
2008 33.36% 30.95% 32.03%
2007 32.80% 30.32% 31.73%
2006 32.73% 29.99% 29.80%
2005 33.10% 30.06% 31.54%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.