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9 Apartments under 500 for rent in Cleveland, OH

Last updated December 19 at 11:40am UTC
3539 W 50th St
Stockyards
Cleveland, OH
Updated December 19 at 11:40am UTC
2 Bedrooms
$495
3893 E 57th
South Broadway
Cleveland, OH
Updated December 19 at 11:40am UTC
2 Bedrooms
$495
16600 Glenpark
Lee - Miles
Cleveland, OH
Updated December 18 at 11:19am UTC
5 Bedrooms
$450
4714 Jewett Avenue
Industrial Valley
Cleveland, OH
Updated November 15 at 11:54am UTC
Studio
$100
3146 W 68th St.
Stockyards
Cleveland, OH
Updated November 15 at 11:54am UTC
Studio
$100
10627 Amor Ave
Glenville
Cleveland, OH
Updated November 15 at 11:53am UTC
6 Bedrooms
$395
3251 W 58th St.
Stockyards
Cleveland, OH
Updated November 15 at 11:52am UTC
Studio
$100
3689 Ludgate Rd.
Moreland
Shaker Heights, OH
Updated November 15 at 11:52am UTC
Studio
$100
Results within 1 miles of Cleveland, OH
3168 W. 86th St.
West Boulevard
Cleveland, OH
Updated November 15 at 11:54am UTC
Studio
$100

December 2018 Cleveland Rent Report

Welcome to the December 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

December 2018 Cleveland Rent Report

Welcome to the December 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 1.2% over the past month, and are down significantly by 2.0% 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 September. Cleveland's year-over-year rent growth lags the state average of 0.7%, as well as the national average of 1.3%.

Rents rising across cities in Ohio

While rent decreases have been occurring in the city of Cleveland over the past year, cities in the rest of the state are seeing the opposite trend. Rents have risen in 6 of the largest 10 cities in Ohio for which we have data. The state as a whole logged rent growth of 0.7% 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 Ohio that we have data for, Toledo, Dublin, and Hamilton, where two-bedrooms go for $770, $1,130, and $860, respectively, are the three major cities in the state besides Cleveland to see rents fall year-over-year (-1.4%, -1.1%, and -0.6%).
  • Fairfield, Lakewood, and Cincinnati have all experienced year-over-year growth above the state average (3.6%, 2.2%, and 1.2%, respectively).

Cleveland rents more affordable than many large cities nationwide

As rents have fallen significantly in Cleveland, many large cities nationwide have seen prices increase, in some cases substantially. Cleveland is also more affordable than most large cities across the country.

  • Cleveland's median two-bedroom rent of $790 is below the national average of $1,180. Nationwide, rents have grown by 1.3% over the past year compared to the 2.0% decline in Cleveland.
  • While rents in Cleveland fell significantly over the past year, many cities nationwide saw increases, including Phoenix (+3.2%), New York (+2.3%), and Denver (+1.9%).
  • Renters will find more reasonable prices in Cleveland than most large cities. For example, San Francisco has a median 2BR rent of $3,100, 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.