Cleveland has proved itself to be the greatest place to own rental property. We have one of the strongest real estate markets in the nation. It is a fast-growing market of millennials who are moving to the city to take advantage of the available job opportunities. We get hundreds of rental applications from relocating families who are looking for properties to rent in Cleveland. With a workforce of over 2 million people, Cleveland is the 12th largest economic region in the nation.
Some statistics for Cleveland
- Median Home Price - $125,000
- Median Monthly Rent - $1,150
- Fastest growing healthcare economy in U.S. (and home to world renowned Cleveland Clinic)
- Home of 10 Fortune 500 company headquarters
It’s not difficult to buy investment properties as low as $80,000 and turn that into $800 a month. Cleveland’s occupancy rates are booming and at an astounding 98%, and home sales are up 11% year over year.
Here are some articles that are relevant to our market today:
If you already own rental property or are considering becoming a landlord, it's important to know the area. IIP Management is local, we know the areas and this type of investment requires a hands-on approach. Having a professional close by will ensure your best interests are looked after. Click here to meet our team!