Cleveland, MS—38732
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cleveland, MS
As of Oct '25, the median home price in Cleveland, MS is $142,000, with a year-over-year change of -3.3%. This indicates that home prices in Cleveland, MS are decreasing. According to Zillow, the 1-year price projection is -5.0%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $142,000 | -3.3% |
| Single Family | $142,000 | -2.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $173,000 | -1.1% |
4 Bed | $318,000 | 2.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Cleveland, MS
As of July '25, Rentcast reports the average rent in Cleveland, MS is $989, with a year-over-year rent change of 4.1%. Per bedroom, the median rent as of July '25 in Cleveland, MS is 1-bedrooms: $699, 2-bedrooms: $975, 3-bedrooms: $1,500, 4-bedrooms: $1,040. The most common rental property sizes in Cleveland, MS are 2-bedroom and 3-bedroom, accounting for 42.7% and 31.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $989 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $699 | $699 |
| 2 Bed Rent | $950 | $975 |
| 3 Bed Rent | $1,500 | $1,500 |
| 4 Bed Rent | $1,040 | $1,040 |
% of Rental Stock
Property Listings — Cleveland, MS
As of Oct '25, Realtor.com reports that the median days on market for a home in Cleveland, MS is 79. This is a decrease of -15.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $179,000 | -3.0% |
Listing Count | 67 | -2.0% |
| Listings as % of Homes | 0.5% | -2.0% |
Days on Market | 79 | -15.0% |
Demographics — Cleveland, MS
As of the latest ACS Survey released in 2023, Cleveland, MS has a population of 16,700, which has decreased by -5.2% over the past 5 years. Cleveland, MS is a popular place for families, as children make up 25.5% of the population. The area has a moderately educated workforce, with 32.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 2.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,700 | -5.2% |
% Under 18 | 25.5% | 6.2% |
% Seniors | 14.4% | -0.7% |
% WFH | 2.4% | 41.2% |
% w/ College Degree | 32.1% | 15.5% |
As of the latest ACS Survey released in 2023, Cleveland, MS is a predominantly black area, with 54.1% of the population identifying as black. The black population has grown by 2.1% in the last 5 years. The second most common race or ethnicity in Cleveland, MS is white, making up 37.9% of the population. Foreign-born residents account for 3.3% of the population in Cleveland, MS, and this percentage has increased by 32.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 37.9% | -10.8% |
% Black | 54.1% | 2.1% |
% Hispanic | 3.1% | 19.2% |
% Asian | 1.6% | 60.0% |
% Foreign Born | 3.3% | 32.0% |
Mortgage and Risk — Cleveland, MS
According to HUD data as of 2023, there were 179 mortgage originations in Cleveland, MS, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Cleveland, MS. Investor activity is low, as 3.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 179 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Cleveland, MS
Cleveland, MS lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 521 |
Total Units Section 8 | 509 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 88.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $51 | $699 | $750 |
| 2 Bedroom | $30 | $950 | $980 |
| 3 Bedroom | -$260 | $1,500 | $1,240 |
| 4 Bedroom | $260 | $1,040 | $1,300 |
Affordability — Cleveland, MS
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $142,000 |
| Median Household Income | $44,200 |