Market Trends in Cleveland Highlight Property Investment Opportunities
Over the last few years, the housing market in Cleveland, Ohio has been slowing growing with home prices on the rise. Compared to many parts of the country, the property market in Cleveland is still very affordable.
Continued slow pricing growth presents an opportunity for investors to buy low and expand their portfolio. The urban core has been in construction mode, with new mixed use buildings planned in neighborhoods including University Circle and Hingetown. These units have been built to attract young professionals who prefer to live and work in the downtown area.
Revitalized Neighborhoods in Cleveland Attract Millennials
Part of the comeback Cleveland has experienced lately is due to revitalization in key parts of the city and close suburbs. Now, there has been a renewed growth in tech, entrepreneurship, and artisan goods being created right in Cleveland. The city is becoming a unique destination for Millennials looking to escape the congestion and high prices in East Coast metro areas.
The increased national attention on this booming and vibrant scene is excellent news for the property managers who are positioned to take advantage local rental market in Cleveland. The continued revival of this region is going to keep attracting prospective tenants both locally and from around the nation.
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