Cleveland, TN—37312
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 $343,000, with a year-over-year change of -0.4%. This indicates that home prices in Cleveland, TN are flat. According to Zillow, the 1-year price projection is 2.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $343,000 | -0.4% |
| Single Family | $345,000 | -0.3% |
| Condos | $259,000 | 0.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $254,000 | 0.0% |
3 Bed | $349,000 | 0.3% |
4 Bed | $450,000 | 0.7% |
| 5 Bed | $565,000 | 0.2% |
% of Housing Stock
Rental Trends — Cleveland, TN
As of July '25, Rentcast reports the average rent in Cleveland, TN is $1,450, with a year-over-year rent change of -13.2%. Per bedroom, the median rent as of July '25 in Cleveland, TN is studios: $625, 1-bedrooms: $981, 2-bedrooms: $1,320, 3-bedrooms: $1,890, 4-bedrooms: $2,250. The most common rental property sizes in Cleveland, TN are 2-bedroom and 3-bedroom, accounting for 66.1% and 16.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,340 | $1,450 |
| Studio Rent | $625 | $625 |
| 1 Bed Rent | $925 | $981 |
| 2 Bed Rent | $1,250 | $1,320 |
| 3 Bed Rent | $1,750 | $1,890 |
| 4 Bed Rent | $2,300 | $2,250 |
% 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 66. This is a decrease of -23.0% 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 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $400,000 | 9.0% |
Listing Count | 301 | 1.0% |
| Listings as % of Homes | 1.4% | 1.0% |
Days on Market | 66 | -23.0% |
Demographics — Cleveland, TN
As of the latest ACS Survey released in 2023, Cleveland, TN has a population of 36,900, which has increased by 7.0% over the past 5 years. Cleveland, TN is a moderately popular place for families, as children make up 22.3% of the population. The area has a moderately educated workforce, with 36.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,900 | 7.0% |
% Under 18 | 22.3% | -0.4% |
% Seniors | 20.4% | 7.9% |
% WFH | 10.0% | 96.1% |
% w/ College Degree | 36.3% | 21.4% |
As of the latest ACS Survey released in 2023, Cleveland, TN is a predominantly white area, with 81.5% of the population identifying as white. The white population has shrunk by 2.3% in the last 5 years. The second most common race or ethnicity in Cleveland, TN is hispanic, making up 6.8% of the population. Foreign-born residents account for 7.2% of the population in Cleveland, TN, and this percentage has decreased by 15.3% 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 | 81.5% | -2.3% |
% Black | 4.5% | -16.7% |
% Hispanic | 6.8% | 4.6% |
% Asian | 2.9% | 16.0% |
% Foreign Born | 7.2% | -15.3% |
Mortgage and Risk — Cleveland, TN
According to HUD data as of 2023, there were 826 mortgage originations in Cleveland, TN, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Cleveland, TN. Investor activity is low, as 2.0% 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 | 826 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% 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 2.1%. 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 and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Cleveland, TN, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 90 |
Total Units Section 8 | 89 |
% Rentals under Section 8 | 2.1% |
% Occupied Section 8 | 77.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $125 | $925 | $1,050 |
| 2 Bedroom | $130 | $1,250 | $1,380 |
| 3 Bedroom | $50 | $1,750 | $1,800 |
| 4 Bedroom | -$470 | $2,300 | $1,830 |
Affordability — Cleveland, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $343,000 |
| Median Household Income | $75,400 |