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Cleveland: Live Affordably in a Growing City

Posted by IIP Management on Sep 26, 2018 4:03:40 PM
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Cleveland is a very important city in the state of Ohio. Located on the shores of Lake Erie, Cleveland was once a manufacturing hub of Ohio. Today, this city is divided into East and West sides by Cuyahoga River and is experiencing fast-paced growth and revitalization. It presents wonderful employment options to workers and professionals in the fields of IT and medical. Cleveland is a highly affordable city with many options for growth and expansion. Here is some more Cleveland info and stats! 

Low cost of living makes Cleveland highly affordable


Cleveland has a high population of 389,165. Even though median household income in Cleveland is a lowly $26,583, low cost of living makes it easy for families to live comfortably. Median home prices in Cleveland are quite low at $67,400, less than half of the national average.

workplace-1245776_1920A diverse population with lots of opportunities

A large part of the economic growth of Cleveland has been in correlation with its location along the shores of Lake Erie. It has been a period of renaissance for Cleveland in the last few decades especially after its famous Cuyahoga River caught fire in 1969.

The economy of Cleveland has diversified since then and today you will experience a diverse population living in this beautiful city of Ohio. It is an interesting mix of professionals, college students, entrepreneurs, and families with people coming from different ethnicities and backgrounds.

A fast-growing job market in Cleveland attracts large numbers of Millennials in the fields of finance, IT, and technology. The influx of these groups of people is slowly transforming Cleveland from a rustic city with a suburban feel to a booming metro city.


entrepreneur-1340649_1920In addition to the low price of houses in Cleveland, what makes it most affordable for immigrants from all parts of Ohio is the low monthly rents of homes. You can easily find a house to rent for your family for less than $1000 per month in Cleveland.

This city is famous not only for its museums and performing art centers but also its festivals and cultural activities. Playhouse Square Center in Cleveland is the 2nd largest performing arts center after Lincoln Center in New York. It contains many theaters that are collectively referred to as Cleveland Theater District. One of the finest orchestras of the world is also found in Cleveland. Cleveland Orchestra is certainly the finest in the United States. 

 

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Topics: Real estate, understanding real estate investing, Investors, hiring a property manager, cleveland