Housing in Cleveland

A typical Cleveland home is worth roughly $442,000

Typical home value

$442K

MI $266K

Estimate

2-bedroom rent

$1,570

a month, utilities in · HUD

Median tax bill

$2,703

MI $2,904

What kind of housing town is Cleveland?

Read from the numbers below. The page puts what stands out first.

Pricier than MI66% above the Michigan typical home.A second-home town34% of homes are seasonal or vacation homes.A town of owners91% of households own their home.

★ What stands out · Affordability

A typical home costs 5.4 years of income

More than across Michigan (3.7 years). Try your own numbers below.

You could afford about

$333,000

Typical Cleveland home $442K

That’s $110K short of a typical Cleveland home.

The typical home, each month

$2,540

Loan $2,190Tax $230Insurance $130

A two-bedroom rents for about $1,570 a month here, $970 less than owning.

Where your budget reaches nearby

Glen Arbor$663K Kasson$403K Centerville$444K Leland$1.26M

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Cleveland’s typical property tax (0.61% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.

The homes

91% of Cleveland households own their home

Half of Cleveland’s homes were built before 1980.

Owners and renters

Own 91%Rent 10%

Michigan: 73% own.

1980

typical home built · MI 1972

$2,703

median property tax bill · MI $2,904

0.61%

of a home’s value, a year in tax · MI 1.25%

34%

of homes are seasonal or vacation homes

U.S. Census Bureau, American Community Survey 2020-2024.

Renting

A two-bedroom rents for about $1,570

Renters already here pay a median of $1,095, so moving in tends to cost more than staying put.

Fair Market Rent a month, utilities included

Studio$1,160

1 bedroom$1,430

2 bedrooms$1,570

3 bedrooms$1,880

4 bedrooms$2,080

10%

of households rent · MI 27%

renter households

43%

of renters spend 30%+ of income on rent · MI 50%

23%

of the median income, for a two-bedroom

$1,095

median rent paid today · Census

U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Benzie County, MI HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.

Next door

Cleveland vs. its neighbors

Cleveland is the 2nd least expensive of 5 neighboring towns. Tap one to see its housing page.

Leland$1.26M Glen Arbor$663K Centerville$444K Cleveland$442K Kasson$403K

Compare more

Town	Typical value	1-yr change	2-bed rent	Median income
Cleveland	$442K*	—	$1,570	$81,607
Glen Arbor	$663K	+4.1%	$1,530	$109,500
Kasson	$403K*	—	$1,550	$85,417
Centerville	$444K*	+21%†	$1,360	$98,281
Leland	$1.26M	+5.6%	$1,330	$92,857

Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.

Neighbors talk housing

What Cleveland buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Cleveland still affordable for young families?

Your answer becomes a post in Town Square.

Start the conversation

Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.