Looking for high rental demand areas in Cleveland, Ohio

I am looking to invest in single family homes in Cleveland, Ohio and would like to know what are some of the sought after rental areas and zips

Also looking for the same in the Detroit, MI market.

  1. High demand rental areas and zip codes
  2. Single family homes

cleveland area rentals

I’m not very familiar with the rental properties in Cleveland, but I can be a guide for you if you are interested in the Akron Ohio area. There are plenty of good deals waiting to be made in my area. Contact me if interested.

Cleveland neighborhood grades

CLEVELAND NEIGHBORHOOD GRADES.

Many long distance investors look to Cleveland Ohio as a long distance rental portfolio location. This is because the city has a high rental demand & low priced homes.

From afar it is not so easy to pin point exactly what you are buying. This is why many investors use a scale to grade neighborhoods so they can get a feel for what they are buying. So naturally as the go to guy for Cleveland Ohio investing I am asked quite often “what grade neighborhood is this house in? What about this house?”

So here it is. My grades for the neighborhoods in & around the city of Cleveland.

MAP KEY

DARK GREEN: A neighborhood

LIGHT GREEN: B neighborhood

YELLOW: C neighborhood

RED: D & F neighborhoods

BLACK STAR: The Holton-Wise Property Group’s office

RED OUTLINE: The Holton-Wise Property Group’s management area

A Neighborhood–Single family homes are almost entirely owner occupied. Single family homes are $150k & up. Single family homes here are too expensive to make any sense for a rental. Multifamily apartment buildings are the only rental properties that would make any sense as a rental property. These will trade with very low cap rates but are great passive investments with little to no issues with the tenants.

Zip code 44149—Median income $82k—City-Strongsville
Zip code 44140—Median income $80k—City-Bay Village
Zip code 44012—Median income $77k—City-Avon Lake
Zip code 44147—Median income $75k—City-Broadview Heights
Zip code 44136—Median income $73k—City-Strongsville
Zip code 44145—Median income $72k—City-Westlake
Zip code 44133—Median income $60k—City-North Royalton

B Neighborhood–Mix of owner occupied single family homes & single family rentals. Owner occupied homes being more common. Single family homes are 60k-120k. You can get some single family homes that need some minor work and get yourself a pretty good rental. Rents are going to be $800-$1,000. Your tenant base is very solid. Some blue collar & some college educated.

Zip code 44134—Median income $49k—City-Parma
Zip code 44129—Median income $49k—City-Parma
Zip code 44142—Median income $49k—City-Brook park
Zip code 44017—Median income $49k—City-Berea
Zip code 44130—Median income $45k—City-Parma Heights/Middleburg Heights
Zip code 44107—Median income $42k—City-Lakewood
Zip code 44144—Median income $39k—City-Brooklyn/Cleveland (Brooklyn side)


C Neighborhood
–Mix of owner occupied single family homes & rentals. Rentals being more common. Single family homes are 25k-50k. Rents are going to be $600-$800. Blue collar workers, low income workers, retail, service industry workers, factory workers, SSI & CMHA.

Zip code 44111—Median income $40k—City-Cleveland
Zip code 44144—Median income $39k—City-Brooklyn/Cleveland (Cleveland side)
Zip code 44135—Median income $38k—City-Cleveland
Zip code 44109—Median income $30k—City-Cleveland***
Zip code 44137—Median income $41k—City-Garfield Heights
Zip code 44105—Median income $28k—City-Newburgh Heights
The north half of 44109 is a D area. The median income level north of the highway (71) is under $30k. The half south of the highway (71) is the good part of this zip code. Median income on the south side is closer to $40k


D Neighborhood
–Mostly rentals. Owner occupied single family homes are scarce. Lots of SSI & CMHA. Single family homes are 20k-40k. Rents are going to be $450-$700. Crime is a lot more common.

Zip code 44109—Median income $30k—City-Cleveland***
Zip code 44113—Median income $24k—City-Cleveland
Zip code 44102—Median income $23k—City-Cleveland
The north half of 44109 is a D area. The median income level north of the highway (71) is under $30k. The half south of the highway (71) is the good part of this zip code. Median income on the south side is closer to $40k

F Neighborhood–Warzone. Wild West. Empty Houses get stripped of all valuables & sell for almost nothing. Lots of boarded up homes & blocks were many homes were torn down. Total loss is very common. Agent commissions & closing costs will often be higher then the value of the home. Homes in decent condition sell for 15k-40k. Very dangerous areas.

Zip code 44112—Median income $24k—City-East Cleveland
Zip code 44106—Median income $22k—City-Cleveland
Zip code 44110—Median income $21k—City-Cleveland
Zip code 44108—Median income $20k—City-Cleveland
Zip code 44114—Median income $20k—City-Cleveland
Zip code 44127—Median income $19k—City-Cleveland
Zip code 44103—Median income $17k—City-Cleveland
Zip code 44104—Median income $14k—City-Cleveland
Zip code 44115—Median income $12k—City-Cleveland