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CoStar Insight

Cleveland apartment demand cools for third straight quarter as costs rise

Vacancy hits 10.5% after 1,900 new units open
Newly completed four- and five-star properties, including The Collins in downtown Cleveland, remain above the five-year average, placing upward pressure on vacancies. (CoStar)
Newly completed four- and five-star properties, including The Collins in downtown Cleveland, remain above the five-year average, placing upward pressure on vacancies. (CoStar)
CoStar Analytics
April 14, 2026 | 3:33 P.M.

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Apartment demand in Cleveland slowed in early 2026 as higher living costs and weaker job growth delayed moves into new units.

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News | Cleveland apartment demand cools for third straight quarter as costs rise