Change in sales price (year over year): 22.0%.The area has a dense urban feel, and is another neighborhood where more people rent than own:
The West Boulevard neighborhood is located just south of the I-90/Northwest Freeway, adjacent to the popular Jefferson neighborhood. Change in sales price (year over year): 20.6%.It also has a high percentage of renter-occupied households: Ranked as the eighth best neighborhood in Cleveland, the area receives high grades from. Located between Edgewater and Ohio City, the Detroit-Shoreway neighborhood has a dense suburban feel. Change in sales price (year over year): 5.4%.The neighborhood is rated highly by, and has a high percentage of renters: Change in sales price (year over year): -67.2%Įdgewater is located along the lakefront, adjacent to the Detroit-Shoreway neighborhood and just west of Downtown.Located along the lakefront, adjacent to Downtown, Goodrich-Kirtland Park has an urban feel: Nearly everyone rents rather than owns, and the area has some very affordable homes. The Goodrich-Kirtland Park neighborhood is ranked as the second best neighborhood in Cleveland. Change in sales price (year over year): 28.5%.The neighborhood is ranked as the third best in Cleveland: Located south of Downtown, next to the Ohio City neighborhood, Tremont is another neighborhood with a high percentage of renters. Change in sales price (year over year): 26.7%.Rent prices here are among the highest in the city, and nearly everybody rents rather than owns: Change in sales price (year over year): 34.0%ĭowntown Cleveland is top ranked by.The neighborhood has a sparse suburban feel: Located south of the city along I-77, the South Broadway neighborhood’s home prices are relatively affordable, and more residents rent than own. Change in sales price (year over year): 6.0%.The North Collinwood neighborhood is located east of Downtown, along the lakefront and has a mixed urban-suburban feel: Change in sales price (year over year): -16.0%Įven though home prices in North Collinwood are relatively low, there are still more residents who rent rather than own.Bordering Lake Erie and adjacent to Downtown, the neighborhood has a mixed urban-suburban feel: Home prices in the Ohio City neighborhood are a bit higher than other popular neighborhoods in Cleveland, which may be one reason more residents here rent than own. Change in sale price (year over year): 18.1%.Jefferson has a dense suburban feel, and nearly half of the residents rent their homes: The Jefferson neighborhood in Cleveland is west of Downtown, near West Boulevard, another popular neighborhood. Change in sales price (year over year): 11.3%.The neighborhood is ranked by as the seventh best in Cleveland and has a dense suburban feel: Located south of Downtown Cleveland, Old Brooklyn is a good neighborhood for investors looking for an entry-level home. Specific data on each neighborhood comes from, , and Redfin as of December 2021. To ease your search, we’ve put together a list of 15 neighborhoods to investigate for investment property. >Explore Roofstock's Cleveland investment properties.Ī recent study by the Cleveland Foundation revealed that Cleveland has a fast growing population, including recent graduates.Īccording to Zumper (as of February 2022), 55% of the housing units in Cleveland are renter-occupied, with rents for 3-bedroom homes up 12% year over year.ġ5 great areas in Cleveland for investment propertiesĬleveland is home to over 2 million residents living in 40 neighborhoods, so it can be difficult to know where to look first. Although housing prices have increased, popular neighborhoods like North Collinwood and South Broadway still have median home sale prices of less than $100,000.In popular neighborhoods, such as Downtown Cleveland, over 90% of homes are occupied by renters.Home prices in Cleveland have increased by nearly 23% over the past year, which may be one reason more people rent than own in many neighborhoods.We recently looked at Cleveland neighborhoods in which to find great investment properties. Home values have increased nearly 23% year over year as of December 2021, according to Zillow, and many of the best neighborhoods in Cleveland have more residents who rent rather than own.Īlthough Cleveland used to be known as a manufacturing town, the economy has evolved into a well-balanced blend of high-tech, service, and blue- and white-collar employment. Cleveland is ranked as one of the best places to buy a rental property this year for investors seeking a balanced blend of cash flow and appreciation.
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