Cleveland Heights, OH Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Cleveland Heights, OH Housing Market Trends

With a population of 43,992, 19,074 total housing units (homes and apartments), and a median house value of $162,002, house prices in Cleveland Heights are solidly below the national average.

Single-family detached homes are the single most common housing type in Cleveland Heights, accounting for 59.35% of the city's housing units. Other types of housing that are prevalent in Cleveland Heights include large apartment complexes or high rise apartments ( 23.55%), duplexes, homes converted to apartments or other small apartment buildings ( 12.20%), and a few row houses and other attached homes ( 4.63%).

The most prevalent building size and type in Cleveland Heights are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.14% owning and 45.86% renting.

The housing in Cleveland Heights was primarily built before 1939 ( 54.31%), making the housing stock in Cleveland Heights some of the oldest overall in America, although there is a range of ages of homes in Cleveland Heights. The next most important housing age is between 1940-1969 ( 33.40%), followed by between 1970-1999 ( 9.61%). There's also some housing in Cleveland Heights built between 2000 and later ( 2.67%).

Vacant housing appears to be an issue in Cleveland Heights. Fully 12.91% of the housing stock is classified as vacant. Left unchecked, vacant Cleveland Heights homes and apartments can be a drag on the real estate market, holding Cleveland Heights real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Cleveland Heights Home Appreciation Rates

Real estate appreciation rates in Cleveland Heights's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 3.08% during the period.

NeighborhoodScout's data show that during the latest twelve months, Cleveland Heights's appreciation rate, at 10.30%, has been at or slightly above the national average. In the latest quarter, Cleveland Heights's appreciation rate has been 2.30%, which annualizes to a rate of 9.50%.

Relative to Ohio, our data show that Cleveland Heights's latest annual appreciation rate is higher than 60% of the other cities and towns in Ohio.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Cleveland Heights differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cleveland Heights - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Cleveland Heights real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$162,002

Cleveland Heights, OH HOME PRICES

> $1,260,000
0.9%
0.9%
$945,001 - $1,260,000
0.9%
0.9%
$630,001 - $945,000
3.3%
3.3%
$504,001 - $630,000
2.5%
2.5%
$378,001 - $504,000
4.9%
4.9%
$252,001 - $378,000
10.7%
10.7%
$126,001 - $252,000
43.8%
43.8%
$63,001 - $126,000
29.0%
29.0%
$0 - $63,000
4.0%
4.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for OH

Value Relative To Nation

Number Of Homes And Apartments:
19,074

Cleveland Heights Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
23.56% 0.99%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,383 / per month

Homeownership Rate

Owners
54.1%
54.1%
Renters
45.9%
45.9%
Vacant
12.9%
12.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
2.7%
2.7%
1970 - 1999
9.6%
9.6%
1940 - 1969
33.4%
33.4%
1939 or Older
54.3%
54.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
59.4%
59.4%
Townhomes
4.6%
4.6%
Small Apt. Buildings
12.2%
12.2%
Apt. Complexes
23.5%
23.5%
Mobile Homes
0.3%
0.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.9%
1.9%
1 Bedroom
14.9%
14.9%
2 Bedrooms
18.8%
18.8%
3 Bedrooms
37.6%
37.6%
4 Bedrooms
18.6%
18.6%
5 or more bedrooms
8.3%
8.3%
0.0% 100.0%
% OF HOMES