While rent growth in Cleveland remains elevated compared to the national benchmark, a wave of recent apartment building completions pushed vacancy to an all-time high. The added supply is weighing on apartment rents, with the average asking rental rate declining in July for the first time this year.
Rent increases for Cleveland apartments slow for second consecutive month in July
Higher-than-usual vacancy expected to continue over the near term as nearly 2,000 apartment units set to be added to supply over the next three quarters
CoStar Analytics
August 13, 2025 | 4:16 P.M.
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