Cleveland Ohio Vacancy Estimates

[Clifton L.]

Hi BP Community, I am looking for tools and input to estimate vacancy rates in MFH rentals in the Cleveland Ohio area. I recognize this would change by neighborhood, unit, and price point. But the law of large numbers suggests you should be able to start with an average or estimate. Let's assume we are talking about A & B class neighborhoods. Lakewood, Tremont, Shaker Heights, Beachwood etc, and fairly/median priced properties.

What have you all seen historically or currently concerning vacancy rates? Some sources I have found are pointing to around 8%



8.6%-2018 https://www.huduser.gov/portal/publications/pdf/ClevelandOH-comp.pdf

6.9%-2019https://www.deptofnumbers.com/rent/ohio/cleveland/#:~:text=Cleveland%20Rental%20Vacancy%20Rate,according%20to%20Census%20ACS%20data.

8.3%-2014https://howmanydoors.com/devrlogical/members-home/market-research/cleveland-ohio/

 

[Vincent Macauda]

We own and manage 1000 multi family units in the Lakewood area and its surrounding areas (Cleveland, Fairview Park, etc) and are running under 2% vacancy.  Mainly B level units. Demand is greater than supply now more than ever.