{"id":6611,"date":"2026-04-23T12:03:00","date_gmt":"2026-04-23T12:03:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=6611"},"modified":"2026-05-06T07:44:05","modified_gmt":"2026-05-06T07:44:05","slug":"cleveland-multifamily-market-report","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/cleveland-multifamily-market-report\/","title":{"rendered":"Cleveland\u00a0Multifamily Market Report \u2013 April 2026"},"content":{"rendered":"<h2>Rents See Uptick, Job Gains Lag<\/h2>\n<p>Cleveland\u2019s multifamily sector started 2026 with mostly encouraging fundamentals. Average advertised asking rents improved slightly, up 0.2%, on a trailing three-month basis through February, to $1,246. Meanwhile, the U.S. average slid 0.1%, to $1,740. Year-over-year, rents rose 2.8%. The metro\u2019s occupancy rate for stabilized assets clocked in at 94.5% in February, above the 94.3% U.S. average, as per the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>national multifamily market report<\/strong><\/a>.<\/p>\n<p><iframe id=\"datawrapper-chart-qhLob\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Cleveland vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/qhLob\/1\/\" height=\"334\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}});<\/script><\/p>\n<p>Cleveland\u2019s unemployment rate stood at 3.4% in December, while Akron\u2019s was 4.3%, according to preliminary Bureau of Labor Statistics data. Both were below the 4.4% national average. In 2025, Cleveland gained only 800 net jobs, weighed down by losses in the leisure and hospitality, and the trade, transportation and utilities sectors. The metro\u2019s job growth rate was 0.5% in 2025, below the 0.6% U.S. figure. Amid these muted gains, The Sherwin-Williams Co. has now fully relocated to its new 1 million-square-foot headquarters, bringing more than 3,100 employees to downtown Cleveland.<\/p>\n<p><iframe id=\"datawrapper-chart-qRSnT\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Cleveland Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/qRSnT\/1\/\" height=\"416\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}});<\/script><\/p>\n<p>Developers across the metro had more than 3,300 units under construction as of February. The pipeline included some 20,100 units moving through the planning and permitting stages. This follows last year\u2019s total of 1,833 units. Multifamily transactions totaled $34.1 million year-to-date through February. Sales volume was ahead of the nearly $27 million that traded during the same period in 2025.<\/p>\n<p>Read the full Yardi Matrix Cleveland Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/8543-MatrixMultifamilyClevelandReport-April2026\"><strong>April 2026<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rents See Uptick, Job Gains Lag Cleveland\u2019s multifamily sector started 2026 with mostly encouraging fundamentals. Average advertised asking rents improved slightly, up 0.2%, on a trailing three-month basis through February, to $1,246. Meanwhile, the U.S. average slid 0.1%, to $1,740. Year-over-year, rents rose 2.8%. The metro\u2019s occupancy rate for stabilized assets clocked in at 94.5% [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":10269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[106,519],"class_list":["post-6611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-cleveland","tag-multifamily-outlook-2026"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cleveland\u00a0Multifamily Market Report | Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Access the newest Cleveland multifamily market report from Yardi Matrix to delve into the market&#039;s fundamentals and more.\" 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