Located on Lake Erie’s southern shoreline, Cleveland, Ohio, is one of the state’s largest cities. Cleveland is known for its many professional sports teams, museums and cultural sites, parks, and outdoor recreation areas. As the heart of the Cleveland metropolitan area, the city is also one of the state’s economic hot spots. Major industries here include health care, higher education, and technology. The Sixth City is home to a branch of the Federal Reserve Bank, making it a popular home for finance professionals. Despite Cleveland’s many attractions and large employers, its population has declined steadily over several decades.
Today, the city has around 380,000 residents. The greater metro region, which includes Cleveland and neighboring cities like Akron and Canton, totals about 2 million people. If you’re looking for a city with a low cost of living, Cleveland is a hidden gem. It has so much to offer new residents and it’s a relatively affordable place to live. For instance, the cost of living index in Cleveland is just 72.6, compared to the national average (100). Below, we explore the most affordable places to rent and where to find the cheapest apartments in the area.
How expensive is an apartment in Cleveland?
Our Cleveland rent research shows that most apartments in the area cost between $500 and $1,500 in rent per month. About 20% have average monthly rents between $1,500 and $2,500 per month, while about 10% cost more than $2,500 per month. A select few apartments cost under $500 per month, though such low prices are difficult to find in Cleveland.
While many major metro areas gradually become more expensive over time, the cost of living indices show that the average living expenses in Cleveland haven’t changed much year-over-year. For example, the average rent for one-bedroom apartments has increased by only 1% from the same period, while the price of two-bedroom units has decreased by 7%.
So what is the cost of living in Cleveland, and how does it compare to other cities’? In Ohio, the cost of living index is 82.6, which is 10 points higher than Cleveland’s (72.6). This cost of living ranking becomes even more profound when you consider other metro areas in Ohio. On the state’s southern border, Cincinnati has a cost of living index of 87.5, while Columbus’s is 90.5.
Of course, no Cleveland cost of living calculator would be complete without a breakdown of some of the biggest expenses that you’re likely to incur when renting an apartment:
- The housing index is 23.1, making renting an apartment significantly less expensive than average. For comparison, the housing index in Cincinnati is 67.2, 78.5 in Columbus, and 60.9 across Ohio.
- The cost of utility index in Cleveland is 94.9. It’s 89 in Cincinnati, 101.8 in Columbus, and 100 statewide.
- Cleveland’s cost of transportation index Is 90.5. It’s 96.7 in Cincinnati, 92.3 in Columbus, and 83.9 throughout Ohio.
How do I find cheap apartments in Cleveland?
With such a low average housing cost and so many available options, Cleveland has cheap apartments in and around the city. But if you want to lower your Cleveland living costs, consider the size of your apartment carefully. In some cases, you may be able to get a larger apartment for cheap, though mostly smaller units cost less. Average rents for apartments in Cleveland differ based on size:
- Studios cost $960 per month
- One-bedroom accommodation is priced at $1,225 per month
- Two-bedroom apartments cost $1,250 per month
- Three-bedroom housing goes for $1,025 per month
- Four-bedroom homes cost $1,000 per month
In addition to rethinking the size of the apartment, pay attention to the location. Some Cleveland neighborhoods have much higher average rents, especially if they’re near the center of the city. For example, Ohio City, University, and Goodrich–Kirtland Park tend to be some of the pricier parts of Cleveland. If you want to keep your costs as low as possible, you may want to browse elsewhere.
In some large metro areas, renting within the city limits can be pricey. However, in the Cleveland metro, renting in suburban areas is actually more expensive. On average, you can save $30 a month by renting an apartment within the city limits.
If you’re serious about saving money, consider sharing your space with a housemate or two. After all, larger apartments in Cleveland tend to be cheaper than more compact units. That means you can save a lot simply by finding roommates and dividing the cost of rent and utilities evenly.
To save even more, look for apartments that don’t have expensive amenities. By choosing an apartment without a gym, a pool, or a community space, you can avoid paying for these extras, which would typically add to the cost of your rent each month.
What is the cheapest rent in Cleveland?
Thanks to Cleveland’s low cost of living, you can easily find cheap apartments across town. Depending on the size of apartment you need, these neighborhoods typically have the most affordable options:
- In Jefferson and West Boulevard, you can find studio apartments for under $600 per month
- North Collinwood and Old Brooklyn generally have apartments for less than $750 per month
- Hough and Jefferson typically have two-bedroom units for under $900 per month
- In Forest Hills and Glenville, you can rent three-bedroom apartments for less than $900 per month
- Clark–Fulton and Forest Hills often have four-bedroom units for under $900 per month
Whether you’re a local or relocating from out of state, it’s helpful to know the average cost of living in Cleveland, Ohio, so you can budget appropriately. Get started with your Cleveland apartment search, and find the ideal spot in your neighborhood of choice.
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