Cleveland, TN—37311
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cleveland, TN
As of Oct '25, the median home price in Cleveland, TN is $249,000, with a year-over-year change of -0.2%. This indicates that home prices in Cleveland, TN are flat. According to Zillow, the 1-year price projection is 2.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $249,000 | -0.2% |
| Single Family | $249,000 | 0.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $191,000 | 3.8% |
3 Bed | $283,000 | 1.1% |
4 Bed | $395,000 | 0.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Cleveland, TN
As of July '25, Rentcast reports the average rent in Cleveland, TN is $1,350, with a year-over-year rent change of 3.1%. Per bedroom, the median rent as of July '25 in Cleveland, TN is 1-bedrooms: $888, 2-bedrooms: $1,180, 3-bedrooms: $1,750, 4-bedrooms: $2,960. The most common rental property sizes in Cleveland, TN are 2-bedroom and 3-bedroom, accounting for 50.6% and 23.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,350 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $800 | $888 |
| 2 Bed Rent | $1,150 | $1,180 |
| 3 Bed Rent | $1,800 | $1,750 |
| 4 Bed Rent | $3,200 | $2,960 |
% of Rental Stock
Property Listings — Cleveland, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Cleveland, TN is 48. This is a decrease of -49.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 53.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $290,000 | 26.0% |
Listing Count | 120 | -16.0% |
| Listings as % of Homes | 0.7% | -16.0% |
Days on Market | 48 | -49.0% |
Demographics — Cleveland, TN
As of the latest ACS Survey released in 2023, Cleveland, TN has a population of 31,000, which has increased by 11.9% over the past 5 years. Cleveland, TN is a moderately popular place for families, as children make up 21.8% of the population. The area has a poorly educated workforce, with 18.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,000 | 11.9% |
% Under 18 | 21.8% | 4.8% |
% Seniors | 12.9% | -4.4% |
% WFH | 6.4% | 88.2% |
% w/ College Degree | 18.4% | 0.5% |
As of the latest ACS Survey released in 2023, Cleveland, TN is a predominantly white area, with 73.8% of the population identifying as white. The white population has shrunk by 6.6% in the last 5 years. The second most common race or ethnicity in Cleveland, TN is hispanic, making up 12.2% of the population. Foreign-born residents account for 6.3% of the population in Cleveland, TN, and this percentage has decreased by 7.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 73.8% | -6.6% |
% Black | 10.3% | 22.6% |
% Hispanic | 12.2% | 29.8% |
% Asian | 0.3% | -57.1% |
% Foreign Born | 6.3% | -7.4% |
Mortgage and Risk — Cleveland, TN
According to HUD data as of 2023, there were 363 mortgage originations in Cleveland, TN, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Cleveland, TN. Investor activity is low, as 6.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 363 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 6.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Cleveland, TN
As of 2024, the percent of homes in Cleveland, TN under the Section 8 program is 14.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Cleveland, TN, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,080 |
Total Units Section 8 | 901 |
% Rentals under Section 8 | 14.6% |
% Occupied Section 8 | 79.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $90 | $800 | $890 |
| 2 Bedroom | $20 | $1,150 | $1,170 |
| 3 Bedroom | -$270 | $1,800 | $1,530 |
| 4 Bedroom | -$1,650 | $3,200 | $1,550 |
Affordability — Cleveland, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $249,000 |
| Median Household Income | $46,800 |