Cleveland and Akron, Ohio Best Cities For Starter Homes

Cleveland, Ohio ranked #7 in the country for “Best Starter Homes”

Recently, Cleveland, Ohio was named one of the best cities in the country to buy your first home.

The study and information gathered by Zillow and Bert Sperling’s Best Places, put Cleveland at number 7 for affordability and buying a starter home. The list was based on 125 markets in the country and they gathered information such as employment statistics, improving trends in home prices, percentage of income and cost of living.

Cleveland ranked significantly higher than many other large housing markets. This is great news for home buyers and those relocating to the Cleveland, Ohio area.

With interest rates at an all time low and great deals on homes in the area such as HUD homes, bank owned and private sales being priced to sell, this is a wonderful time to own real estate in Northeast, Ohio.

Cleveland, Ohio Ranked #7

Median home value: $120,400
Month-over-month change: +0.55%
Avg monthly mortgage payment: $584.89
Mortgage payment as % of income: 14%
Unemployment rate: 9.3%
Cost of living: 80.7

Cleveland, Ohio has seen the last 6 months of flat or monthly appreciation in housing with a recent positive increase of .55% over the last month’s change. Cleveland’s cost of living is almost 20% less than other cities making the list. These are the reasons Cleveland made the list for a great place to live and buy your first home. Cleveland real estate is affordable and you get a lot of bang for your buck compared to other large cities in America. Search Ohio Homes For Sale – or contact us anytime to discuss house/condo buying in all areas of Northeast and Central, Ohio.

Other Cities Making The List For Best Starter Homes:

1. Augusta, Georgia

2. Dayton, Ohio

3. Tulsa, Oklahoma

4. Akron, Ohio

5. Spartanburg, South Carolina

6. Utica, New York

7. Cleveland, Ohio

8. Oklahoma City, Oklahoma

9. Pittsburgh, Pennsylvania

10. Des Moines, Iowa

Akron, Ohio Made The List At #4!

Median home value: $117,400
Month-over-month change: +0.15%
Avg monthly mortgage payment: $570.32
Mortgage payment as % of income: 14%
Unemployment rate: 10.1%
Cost of living: 75.2

There have now been four consecutive months of monthly appreciation in Akron, Ohio; a city where residents enjoy a cost of living nearly 25% lower than the national average.