Home Values

Cleveland Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$51,800

  • -2.4% 1-year change
  • -0.6% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Warm

Buyers' Market
Sellers' Market

The median home value in Cleveland is $51,800. Cleveland home values have declined -2.4% over the past year and Zillow predicts they will fall -0.6% within the next year. The median list price per square foot in Cleveland is $45, which is lower than the Cleveland Metro average of $84. The median price of homes currently listed in Cleveland is $57,900 while the median price of homes that sold is $63,225. The median rent price in Cleveland is $650, which is lower than the Cleveland Metro median of $895.

Foreclosures will be a factor impacting home values in the next several years. In Cleveland 15.1 homes are foreclosed (per 10,000). This is greater than the Cleveland Metro value of 7.7 and also greater than the national value of 4.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Cleveland is 9.8%, which is higher than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Cleveland homeowners underwater on their mortgage is 37.3%, which is higher than Cleveland Metro at 20.7%.

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Relative ZHVI
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Cleveland Market Overview

Data through Jan 31, 2015
  • $51,800 ZHVI
  • -0.6% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Jan 31, 2016)
  • $57,900 Median listing price
  • $63,225 Median sale price
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Cleveland Market Health

Data through Jan 31, 2015
  • 0.0/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
    (Dec 31, 2014)
  • No data Average days on Zillow
  • 37.3% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 9.8% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

15.1 homes Cleveland
7.7 homes Cleveland Metro
4 homes United States
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Neighborhoods in Cleveland

Name Median ZHVI
Central $98,000
Ohio City - West Side $84,400
Downtown Cleveland $76,500
Name Median ZHVI
Tremont $76,100
Detroit Shoreway $62,400
Brooklyn Centre $42,100
Name Median ZHVI
Clark Fulton $38,100
South Broadway $37,900
North Broadway $34,300

Listings & Sales

Data through Jan 31, 2015
  • $45 Median list price / sq ft
  • $50 Median sale price / sq ft
  • No data Listings with price cut
35.6%
Sold below listing
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Cleveland Rentals

Data through Jan 31, 2015
  • Zillow Rent Index

  • $877 Cleveland
    $1,167 Cleveland Metro
    $1,350 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 0.8 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $650 Rent list price
  • $0.72 Rent list price / sq ft
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