1031 Exchange Cleveland, Ohio

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Cleveland due to their correlations with market demand, and conversely, vacancy rate.

Surrounding metropolitan Area

Cleveland, Ohio is a part of the Cleveland-Elyria, OH metropolitan area, and contains 40 zip codes, including: 44104, 44181, 44114, 44108, 44118, and 44127.

Cleveland Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Cleveland, OH metropolitan area was $910, which is 18.64% lower than 2014 average rent. This represents a compounded annual growth rate of 3.48%. 2019 vacancy in Cleveland, OH was 4.00%.

The total population of the city of Cleveland, OH has decreased 3.28% since 2010. As of 2018, the population was 383,793. The median household income of the Cleveland was $29,008, which is 51.89% lower than the national average.

  • metropolitan area Cleveland-Elyria, OH
  • avg rent $910
  • rent growth 18.64%
  • vacancy 4.00%
  • median income $29,008
  • population (2018) 383,793
  • population growth -3.28%
  • vs. nat'l avg 51.89%
  • zip codes 44101 44102 44103 44104 44105 44106 44108 44109 44110 44111 44112 44113 44114 44115 44118 44119 44120 44121 44124 44125 44126 44127 44128 44129 44130 44134 44135 44143 44144 44181 44188 44190 44191 44192 44193 44194 44195 44197 44198 44199

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