Entering the month of August, new renters were seeing a much higher increase in costs compared to the previous year, based on listings for available rentals.
CLEVELAND, Ohio - What is the state of Greater Cleveland’s real estate market?
Lake County, Summit County, and Cuyahoga County are all below the median home sale price for Ohio in June. However, outliers include the Fairview Park ZIP code 44126, where homes sold on average 6.55% higher than the listing price. This was followed by the Brook Park ZIP codes 44056 at 6.22% and 44142 at 6.06%. Meanwhile, homes in the Cleveland ZIP code 44127 sold at 10.04% under the listed price. This is followed by the Cleveland ZIP code 44103 at 9.57% under the listed price.
The greatest percentage increases in rent were in the Avon Lake ZIP code of 44012, where rent increased 78.1% to $2,244 per month. This was followed by Willoughby , Aurora , North Olmsted , and Parma , each with over a 50% increase from August 2021.
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