Matrix Multifamily Cleveland Report-Fall 2021 October 20, 2021

Slow Growth for Cleveland

Cleveland rents rose 0.7% on a T3 basis through August to $1,016, trailing the 1.7% national average but well above pre-pandemic levels. A reported 3,884 units are underway, but new deliveries lag, totaling just 315 units in 2021 through August.