cleveland Multifamily Market Report
By CREhunt Research · Data through Q3 2025 · Aggregated from Matthews
Quarterly multifamily market indicators for cleveland, aggregated by CREhunt from Matthews. As of Q3 2025, average asking rent was $1,243.00/unit/mo and vacancy was 9.4%, per Matthews.
Projected current multifamily pricing — cleveland
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for cleveland multifamily yet, so this applies the typical cap rate across comparable multifamily markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q3 2025 Matthews asking-rent data (benchmark cap rate 5.1%–6.0%, asking rent held flat). Assumes ~91% occupancy and a 52–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q3 2025 Matthews | $1,243.00/unit/mo | 9.4% | — | — | Matthews |
| Q2 2025 Matthews | $1,248.00/unit/mo | 8.5% | — | — | Matthews |
Frequently asked questions
- What is the average asking rent for multifamily space in cleveland?
- As of Q3 2025, the average asking rent for multifamily space in cleveland was $1,243.00/unit/mo, per Matthews.
- What is the multifamily vacancy rate in cleveland?
- The multifamily vacancy rate in cleveland was 9.4% as of Q3 2025 (Matthews).
- Where does CREhunt's cleveland market data come from?
- This report aggregates quarterly multifamily market data for cleveland from Matthews.