Cleveland Multifamily Market Report
By PropZone Research · Data through Q1 2026 · Aggregated from Matthews, Cushman & Wakefield
Quarterly multifamily market indicators for Cleveland, aggregated by PropZone from Matthews, Cushman & Wakefield. As of Q1 2026, average asking rent was — with a 13.6% vacancy rate.
Projected current multifamily pricing — Cleveland
indicative confidenceModeled 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 Q1 2026 asking-rent data (benchmark cap rate 5.0%–5.8%, asking rent held flat). Assumes ~92% occupancy (vacancy not reported) and a 52–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | — | 13.6% | 2K SF | — | Matthews |
| Q1 2026 | $1900.00/SF | 3.8% | 0K SF | — | Cushman & Wakefield |
| Q4 2025 | — | 9.4% | — | — | Matthews |
Frequently asked questions
- What is the average asking rent for multifamily space in Cleveland?
- PropZone aggregates multifamily asking-rent data for Cleveland from major brokerage market reports; see the quarterly table for the latest available figures.
- What is the multifamily vacancy rate in Cleveland?
- The multifamily vacancy rate in Cleveland was 13.6% as of Q1 2026 (Matthews).
- Where does PropZone's Cleveland market data come from?
- This report aggregates quarterly multifamily market data for Cleveland from Matthews, Cushman & Wakefield.