Insights / Cleveland

Firm
Heating
Condition and direction
Cleveland, OH · recomputed daily
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Cleveland, OH Multifamily Market Read | September 2026

Cleveland reads Firm and Heating, so landlords have the edge. Asking rents are firming, up 3.7% over the past year (Zillow ZORI, monthly, latest Aug 2026). This brief lays out what the current data shows for Cleveland, grouped by how often each source updates.

Updated September 20, 2026

Asking rent YoY · monthly
+3.7%
Vacancy · 2024
6.3%
Jobs YoY · monthly
+0.4%

What is moving now (monthly)

Asking rents are firming, up 3.7% over the past year (Zillow ZORI, monthly, latest Aug 2026). Jobs are growing modestly, up 0.4% over the past year (BLS, monthly, latest Aug 2026).

The backdrop (yearly, US Census Bureau)

Vacancy was 6.3%, in a middling range, in the 2024 count (US Census Bureau). This is a yearly snapshot, not a monthly signal. New permitting was moderate, +12.8% in the 2025 count (US Census Bureau, building permits). A standing yearly figure, not a live signal. Net migration was negative at -0.1 per 1,000 residents in the 2025 count (US Census Bureau).

Rent context

The metro median rent, including utilities, was about $1,087 a month in the 2024 count (US Census Bureau).

What the data shows

Taken together, Cleveland is Firm and heating: landlords have the edge. The monthly movers, asking rent and jobs, are the live part of the picture, while vacancy, permitting, and migration are yearly snapshots that set the backdrop. MetroSgnl reads the market from public data and shows every figure with its source and cadence. This is market information, not investment advice, and not a recommendation about any property.

Common questions about Cleveland · answered from the data, updated September 20, 2026

Is the Cleveland rental market tight or soft right now?

Cleveland reads Firm right now, so landlords have the edge.

Which way is the Cleveland market heading?

Cleveland is heating right now, as asking rents firm over the past year (Zillow ZORI, monthly).

Is Cleveland a landlord's or a renter's market?

Cleveland is a landlord's market right now, because it reads Firm.

What is the vacancy rate in Cleveland?

Vacancy in Cleveland is 6.3% in the Jan 2024 count, a yearly snapshot rather than a live monthly signal (US Census Bureau).

How much have Cleveland rents changed?

Asking rents in Cleveland are up 3.7% over the past year (Zillow ZORI, monthly, latest Aug 2026).

Recent coverage

Daily, from the MetroSgnl news feed. Headlines only.

Port of Cleveland Greenlights Multifamily Mixed-Use Redevelopment Project FinancingYield PRO
Cleveland's long-vacant Warner & Swasey building is under reconstruction as apartmentsIdeastream
ErieView Secures $217.6M in Construction Financing for Cleveland Tower RedevelopmentMultifamily & Affordable Housing Business
What's behind a Cleveland investor's rage-baiting billboards? A story about affordable housingSignal Cleveland
Ohio helps fund Cleveland housing innovation DistrictNEOtrans
Port of Cleveland Approves Financing for Multifamily ProjectMultifamily Housing News
See all Cleveland news →

Data: Zillow ZORI, BLS, US Census Bureau, FRED, and the MetroSgnl news feed. Recomputed daily. Market information only, not investment advice.

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