Cleveland continues to lead the nation in home price growth, as highlighted in a recent article from https://neo-trans.blog/. The Greater Cleveland area saw significant appreciation in home prices in March, although median prices still remain below the national average.
With approximately 2 months of inventory in the Cleveland Metro area, significantly lower than the 5-6 months considered normal in the market, Cleveland stands out as an affordable and thriving community. Interestingly, around 60% of the population in Cleveland leases properties, making it an excellent location for generating income through real estate investments. In fact, over 170 properties in the area are consistently leased, with a remarkable track record of nearly 100% occupancy.
A comparison between Cleveland and Arizona reveals stark differences in real estate prices and cost of living. While the average home price in Arizona hovers around $400,000, Cleveland offers more affordable options without the extreme heat. As someone involved in real estate in both states, the contrast is evident.
As a landlord and local resident, I value the diverse cities surrounding Cleveland and the opportunities they present. Investing in real estate that is easy to lease and where tenants maintain the properties has proven successful, with an average tenant tenure of 25 months.
For insights into our real estate strategies and client returns, visit https://realincomeproperties.blogspot.com/. Discover the potential for equity and income in Ohio, offering a compelling investment opportunity.
For property management services, visit https://pmohio.org/. Explore my blog at https://www.clevelandincomerealestate.com/ for more information on real estate trends and opportunities.
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Thank you