Appreciation Investing in Cleveland, OH

Appreciation Score: 2.4/10Ranked #42 of 52 markets

Data-driven appreciation analysis for Cleveland, OH — score breakdown, key investment metrics, and how it compares to other markets.

Last updated: May 2026

Score Breakdown

Appreciation Score:2.4
Population Growth(40%)
-2.1%1.0
Median Household Income(25%)
$62,8233.6
Low Vacancy(20%)
10.0%2.5
Metro Size (Demand)(15%)
1,249,4184.0

Key Metrics for Appreciation

Pop. Growth

-2.1%

Moderate

Median Income

$62,823

Household income

Vacancy Rate

10.0%

Moderate supply

Population

1.2M

Metro demand indicator

Appreciation Investment Thesis

Cleveland remains one of the top cash-flow markets in the US. The Tremont and Ohio City neighborhoods have seen strong rent growth while maintaining investor-friendly price points.

How Cleveland Compares

RankCityAppreciation ScoreCap RateMedian Price
#38Akron, OH3.08.6%$100,000
#39Milwaukee, WI3.06.7%$175,000
#40Philadelphia, PA2.95.6%$240,000
#41Dayton, OH2.48.8%$95,000
#42Cleveland, OH2.49.8%$105,000
#43Memphis, TN2.29.2%$130,000
#44Detroit, MI1.911.2%$85,000

Showing markets ranked near Cleveland for this strategy.

Quick Math: Estimated Annual Return

Annual Gross Rent ($1,100/mo)$13,200
Less: Vacancy (10%)-$1,320
Less: Property Tax (2.19%)-$2,300
Less: Insurance (~0.5%)-$525
Less: Maintenance (~1.5%)-$1,575
Estimated NOI$7,480
Implied Cap Rate7.1%

Based on median market data. Your actual returns will vary based on specific property, financing, and management costs. Always run your own analysis before investing.

Frequently Asked Questions

What is the appreciation score for Cleveland, OH?

Cleveland, OH scores 2.4 out of 10 on our appreciation score, ranking #42 out of 52 markets we track. Weighted composite: population growth (40%), median household income (25%), low vacancy (20%), metro size/demand (15%). Scale 0–10.

Is Cleveland a good city for appreciation investing?

Cleveland, OH ranks #42 for appreciation investing with a score of 2.4/10. While not a top-ranked market for this strategy, it may have strengths in other investing approaches.

What is the average cap rate in Cleveland?

The average cap rate in Cleveland, OH is 9.8%. The median home price is $105,000 with a median monthly rent of $1,100, resulting in a rent-to-price ratio of 1.05%.

What are the property taxes in Cleveland?

The effective property tax rate in Cleveland, OH is 2.19%. On a $105,000 property, that translates to approximately $2,300 per year in property taxes.

How does Cleveland compare to other appreciation markets?

Among our 52 tracked markets, Cleveland, OH ranks #42 for appreciation investing. Other markets may be stronger for this particular strategy, though it may excel in different approaches.

What is driving population growth in Cleveland?

Cleveland, OH has a 5-year population growth rate of -2.1% and a median household income of $62,823. While population has declined, price appreciation can still occur through revitalization, institutional investment, and limited new housing supply.

Run Your Own Numbers for Cleveland

Use our free calculators pre-filled with Cleveland, OH market data, or adjust the numbers for your specific deal.

Cap Rate Calculator (Cleveland Data)Cash-on-Cash Return CalculatorCap Rate CalculatorMortgage/DSCR Calculator

Cleveland by Strategy

Cash Flow5.6BRRRR6.7House Hacking5.7Appreciation2.4

Market Data

Cleveland Cap Rate DetailsAll Appreciation RankingsAll Ohio MarketsFull 52-City Data Table

Find Financing

Compare lenders for your Cleveland investment

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Other Strategy Rankings

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