How Much Income Cleveland Renters Need to Rent a Home in 2025

Written By:

Publicado em: junho 5th, 2025

FREE DOWNLOAD: 10 Costly Mistakes Foreigners Make Buying U.S. Real Estate

📊 How Much Income Renters Need for a Typical Home in Cleveland

Cleveland is one of the most affordable housing markets in the US. According to recent research, Cleveland homeowners spend about 20% of their income on housing, and renters spend roughly 27%. Compare that to some California markets where residents spend upwards of 50% of their income to keep a roof over their head.

As a property investor with multiple rental properties in Cleveland, making sure my prospective tenants have enough income to pay their rent on time is critical for stable cashflow.

So exactly how much income dies a renter need to afford a typical home? Let’s find out according to Zillow’s April 2025 data:

🏠 Cleveland

Renters need: $54,734/year
Single-family homes: $61,785/year
Multifamily units: $48,483/year

🏠 Akron (Most Affordable)

Typical rental: $49,534/year
Single-family: $50,510/year
Multifamily: $44,941/year

🏠 Columbus

Typical rental: $58,341/year
Single-family: $76,011/year
Multifamily: $52,964/year

🏠 Cincinnati

Typical rental: $60,842/year
Single-family: $75,566/year
Multifamily: $54,154/year

🔎 National Comparison

U.S. renters now need $80,000+ annually to afford a typical rental
Rents since April 2020:
- Apartments: ⬆ 28.7% ($1,858/month)
- Single-family homes: ⬆ 42.9% ($2,256/month)
Median U.S. household income: ⬆ 22.5% to $82,000
Rent-to-income ratio: 29.6%, just under the affordability threshold of 30%

📚

Conclusion

Today’s US mortgage rate data shows a clear downward trend in mortgage rates, which can be a game-changer for those looking to buy or refinance. Locking in a rate now could lead to major savings down the road. At the same time, renters in cities like Cleveland still enjoy more affordability than in most U.S. markets—but that gap is closing fast.

For property investors, focussing on properties that cashflow in affordable markets like Cleveland will likely yield string long-term results.

As always, it’s wise to stay updated with current market trends and consult with a mortgage professional when making big decisions.

FREE DOWNLOAD: 10 Costly Mistakes Foreigners Make Buying U.S. Real Estate

GROW YOUR WEALTH WITH U.S. REAL ESTATE

Start your US real estate investment journey today, and book a Agende uma conversa estratégica gratuita e individua with a member of our senior management team.

SCHEDULE A FREE STRATEGY CALL

“Having personally invested in over 120 US rental properties from overseas, I know the true value of getting the right advice and support.

David Garner – Cashflow Rentals

David Garner has over 120+ personal property acquisitions in the U.S. real estate market as a Non-Resident Alien Foreign National, bringing extensive practical experience to his insights on the U.S. real estate market. He specializes in guiding international investors through the complexities of the U.S. real estate market, focusing on building wealth through profitable rental property investments. His deep understanding of the market, combined with his client-centric approach, makes him a trusted advisor for global investors seeking to establish and grow their U.S. real estate portfolio. Learn more about David