9 Apartments under 500 for rent in Cleveland, OH

Last updated June 22 at 1:23am UTC
1383 W 114th St
Edgewater
Cleveland, OH
Updated June 19 at 5:40pm UTC
Studio
$495
10016 Mount Auburn Ave
Woodland Hills
Cleveland, OH
Updated June 19 at 9:21am UTC
4 Bedrooms
$450
3168 W. 86th St.
West Boulevard
Cleveland, OH
Updated June 16 at 10:01am UTC
Studio
$100
3251 W 58th St.
Stockyards
Cleveland, OH
Updated June 16 at 9:59am UTC
Studio
$100
10627 Amor Ave
Glenville
Cleveland, OH
Updated June 13 at 11:13am UTC
6 Bedrooms
$395
3146 W 68th St.
Stockyards
Cleveland, OH
Updated April 30 at 10:56am UTC
Studio
$100
4714 Jewett Avenue
Industrial Valley
Cleveland, OH
Updated April 25 at 10:00am UTC
Studio
$100
Results within 1 miles of Cleveland, OH
15644 Madison Ave
Lakewood
Lakewood, OH
Updated June 22 at 1:23am UTC
Studio
$450
3689 Ludgate Rd.
Moreland
Shaker Heights, OH
Updated June 16 at 9:59am UTC
Studio
$100

June 2018 Cleveland Rent Report

Welcome to the June 2018 Cleveland Rent Report. Cleveland rents declined over the past month. In this report, we'll evaluate trends in the Cleveland rental market, including comparisons to cities throughout the state and nation.

View full Cleveland Rent Report
Rent Report
Cleveland

June 2018 Cleveland Rent Report

Welcome to the June 2018 Cleveland Rent Report. Cleveland rents declined over the past month. In this report, we'll evaluate trends in the Cleveland rental market, including comparisons to cities throughout the state and nation.

Cleveland rents decline sharply over the past month

Cleveland rents have declined 0.7% over the past month, but have been relatively flat at 0.1% in comparison to the same time last year. Currently, median rents in Cleveland stand at $630 for a one-bedroom apartment and $790 for a two-bedroom. This is the second straight month that the city has seen rent decreases after an increase in March. Cleveland's year-over-year rent growth lags the state average of 1.0%, as well as the national average of 1.5%.

Rents rising across cities in Ohio

Throughout the past year, rents have remained steady in the city of Cleveland, but other cities across the entire state have seen rents increase. Of the largest 10 cities that we have data for in Ohio, 9 of them have seen prices rise. The state as a whole logged rent growth of 1.0% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

  • Looking throughout the state, Dublin is the most expensive of all Ohio's major cities, with a median two-bedroom rent of $1,130; of the 10 largest cities in the state that we have data for, Dublin, is the only major city to see rents fall year-over-year (-1.3%).
  • Fairfield, Cincinnati, and Lakewood have all experienced year-over-year growth above the state average (3.4%, 2.2%, and 2.1%, respectively).

Cleveland rents more affordable than many large cities nationwide

Rent growth in Cleveland has been relatively stable over the past year - some other large cities have seen more substantial increases; in contrast, rents in a few cities have actually declined. Cleveland is still more affordable than most large cities across the country.

  • Cleveland's median two-bedroom rent of $790 is below the national average of $1,170. Nationwide, rents have grown by 1.5% over the past year compared to the stagnant growth in Cleveland.
  • While rents in Cleveland remained moderately stable this year, similar cities saw increases, including Phoenix (+2.2%), Atlanta (+2.0%), and San Francisco (+1.5%); note that median 2BR rents in these cities go for $1,040, $1,170, and $3,070 respectively.
  • Renters will find more reasonable prices in Cleveland than most large cities. For example, San Francisco has a median 2BR rent of $3,070, which is nearly four times the price in Cleveland.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.