Cleveland Rental Demand Jumps 35% as Supply Tightens Fast
Cleveland's Rental Market Surge Drives Record Growth Across All Submarkets Cleveland now holds the fourth position among cities expected to drive rental activity in 2025. This marks a decisive shift in the regional real estate hierarchy. The metropolitan area experienced a staggering 26% surge in rental property page views throughout 2024. This indicates unprecedented tenant interest. Driven by high mortgage rates making homeownership less accessible, many are turning to the rental market as a viable solution. Favorited listings climbed 7% as prospective renters showed serious commitment to relocating to Cleveland. This heightened activity mirrors broader rental pricing trends . Average rents have reached approximately $1,500, representing a 16% year-over-year increase in early 2025. Six consecutive months of rent increases have swept across all submarkets. Five of nine suburban areas report Class A vacancies below the critical 5% threshold. The rental surge is fueled by transform...