Quick facts: Cleveland, OH

Quick Facts

95.0
Cost of Living
below US average
361,607
Population
59.66
Crime Rate per 1000
above US average
$37,271
Median Income
below US average
$160,000
Median House Price
above US average
$1840
Average Rent
above US average
23%
Poverty Rate
above US average
5.7%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $37,271.

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Income Needed to Buy

βœ— Stretch
$50k/year
Based on $160,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $50k vs median $37,271
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Income Needed to Rent

⚠ Stretch
$79k/year
Based on $1840/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $79k vs median $37,271
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Cleveland, OH

Cleveland, Ohio, located on the southern shore of Lake Erie, is known for its vibrant cultural scene, historical significance, and diverse neighborhoods. As the second-largest city in Ohio, Cleveland boasts a rich industrial history, particularly in manufacturing and shipping. The city is home to several key attractions, including the Rock and Roll Hall of Fame, celebrating its musical heritage, and the Cleveland Museum of Art, recognized for its impressive collection. The Playhouse Square district is a major hub for performing arts, featuring theaters that host Broadway shows and concerts. Cleveland's neighborhoods, such as Coventry Village and Tremont, offer unique dining, shopping, and nightlife experiences. The West Side Market, one of the country’s oldest public markets, is a culinary delight with a variety of local vendors. Sports enthusiasm runs high with passionate fans supporting the Cleveland Guardians (MLB), Cleveland Cavaliers (NBA), and Cleveland Browns (NFL). Additionally, the city is known for its beautiful parks, including the Cleveland Metroparks, offering extensive outdoor activities. Overall, Cleveland is a city with a rich heritage, thriving arts scene, and strong community spirit, making it a vibrant place to live and visit.

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