Rent to own Homes in East Cleveland, OH
Surrounded by the city of Cleveland to its west, north and southwestern edges, East Cleveland is the large city's first suburb. With a population hovering around 17,843, East Cleveland has become its own city with its own unique history, culture and flavor. Famous for the world's first industrial park and the famous 'Millionaire's Row' that lasted until the 1920s, East Cleveland has something for everyone to enjoy.
East Cleveland, OH is a great place for affordable rent-to-own homes! With a median household income of over $22,426 and a median rent of $644, the East Cleveland, OH rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in East Cleveland, OH. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
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Rent to own Homes in Cities Near East Cleveland, OH
- Bass Lake
- Bay Village
- Bedford Heights
- Bentleyville
- Berea
- Boston Heights
- Broadview Heights
- Brooklyn
- Chardon
- Chesterland
- Cuyahoga Falls
- Euclid
- Glenwillow
- Grand River
- Highland Heights
- Hudson
- Hunting Valley
- Independence
- Kirtland
- Lakeline
- Lakewood
- Linndale
- Lyndhurst
- Macedonia
- Maple Heights
- Mentor-on-the-Lake
- Middleburg Heights
- Montrose-Ghent
- Moreland Hills
- Newbury
- North Olmsted
- Olmsted Falls
- Orange
- Painesville
- Parma
- Parma Heights
- Peninsula
- Reminderville
- Richfield
- Richmond Heights
- Rocky River
- Shaker Heights
- Solon
- South Euclid
- South Russell
- Stow
- Timberlake
- Twinsburg Heights
- Westlake
- Wickliffe
Neighborhoods in East Cleveland, OH
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44112 rent to own homesBuying a Home in East Cleveland, OH
East Cleveland, OH is seeing rapid growth and East Cleveland, OH's' housing market remains optimal with an average home price that is -73% below the 2024 national average. East Cleveland, OH is part of Cuyahoga county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Cuyahoga is 1.93% which is above the national average, which is 0.99%.
Median Home Price in East Cleveland, OH
Median Rent in East Cleveland, OH
Top 4 Reasons to Live in East Cleveland, OH
History! Home to the world's first Industrial park and the historic 'Millionaire's Row,' East Cleveland has a rich history that it's residents are proud to embrace. Nela Park was the world's first industrial park when it was built in 1911 and continues its operations today. Added to the National Register of Historic Places, it is currently the operating headquarters of GE Lighting; the site is set up like a college campus in Georgian Revival style architecture and has a world-famous lighting display at Christmas. 'Millionaire's Row' was established in the 1860s and lasted until the 1920s, and was so named for the estates that lined Euclid Avenue, home to such famous millionaires as John D. Rockefeller. Eighteen of the original homes still stand today.
Great for renters! With 64% of its residents renting, East Cleveland has proven to be a great place for those who aren't ready to buy a piece of property. With rental rates hovering at $617, it is also an affordable city for those just making their start in the world. Terrace Rd, City Center and Superior Ave are the most popular neighborhoods for renters at the moment.
Nature! East Cleveland is separated into two different sections: the hill, which houses the Forest Hill Historic district, and the McGregor Home with the flat land that surrounds it. This land has three notable parks in the city limits, including Forest Hill Park; the green space was deeded to the city of East Cleveland by its famous resident, John D. Rockefeller Jr. in 1936. On the National Register of Historic places, the park maintains much of its open green space. It also boasts six baseball diamonds, walking trails, picnic areas and tennis courts. East Cleveland has great access to Lake Erie as well, which makes getting out onto the water a breeze.
Rising Appreciation rates! East Cleveland has seen appreciation rates rise for the past two years. Their rates have risen over 3.3% in the past year alone, giving those who are looking to buy a house, or for places to rent to own, good stability on their investments. The neighborhoods of Euclid Ave, Woodworth Rd, Superior Ave and Northfield Ave have seen the highest appreciation rates over the past several years.