Cleveland / Ohio
Cleveland is the second largest city in Ohio and the 51st in the entire U.S., with nearly 400,000 residents. Its metro area numbers over 2 million. Cleveland is located on the south shore of Lake Erie, about 60 miles west of the Pennsylvania border. . Downtown Cleveland has experienced a renaissance in the last five years, with an estimated $ 19 billion in development that has been completed or planned since 2010. Occupancy rates are staggering and stand on 98%, and home sales have risen 12% in the past year - Cleveland Real Estate Market Overview.
Economy - Cleveland has won the "fastest growing city in the US health economy" award. It provides major sources of employment within the city and includes the renowned Hospital, the first global global health and innovation center And medical conference centers. There is in it Main branches of giant companies like Goodyear tires, many mining plants like Cliffs, Natural Resources, FirstEnergy, the giant paint company Sharivan Williams, Eyton Energy Solutions Corporation, the largest travel company in the US Travel Centers of America, Alris Aluminum, Parker Hanpin Technologies, Progressive Insurance and KeyCorp Bank are several Examples of huge companies that are many employment factors.
In addition, Cleveland has the second largest theater district in the United States after New York, three well-known sports teams and one LeBron James.
Real Estate Data - The average home in Cleveland is sold for $ 72.2 thousand and the average rent is $ 856 per month. In addition, the ownership ratio to tenants is 60-40 in favor of tenants, a figure that encourages rental investors in the area. 46.5%).
In the past year, the market has risen by about 11.2%, and according to forecasts is expected to rise this year by another 3.9%. (Nice figure, the market has not yet reached the price level before the economic crisis). About 85% of the apartments were built before 1969.
One advantage is that you can still buy properties in good neighborhoods defined as B-class at less than mid-prices like $ 70,000 -85,000 and enjoy a fortune of $ 800- $ 1000 per month and good tenants.