Detroit-Shoreway, Cleveland, OH—44102
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Detroit-Shoreway, Cleveland, OH
As of Oct '25, the median home price in Detroit-Shoreway, Cleveland, OH is $129,000, with a year-over-year change of -2.0%. This indicates that home prices in Detroit-Shoreway, Cleveland, OH are decreasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $129,000 | -2.0% |
| Single Family | $127,000 | -1.6% |
| Condos | $156,000 | -7.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $80,000 | -2.4% |
2 Bed | $153,000 | 0.0% |
3 Bed | $122,000 | -0.8% |
4 Bed | $137,000 | -0.7% |
| 5 Bed | $159,000 | -2.5% |
% of Housing Stock
Rental Trends — Detroit-Shoreway, Cleveland, OH
As of July '25, Rentcast reports the average rent in Detroit-Shoreway, Cleveland, OH is $1,230, with a year-over-year rent change of -8.2%. Per bedroom, the median rent as of July '25 in Detroit-Shoreway, Cleveland, OH is studios: $854, 1-bedrooms: $927, 2-bedrooms: $1,130, 3-bedrooms: $1,580, 4-bedrooms: $1,710. The most common rental property sizes in Detroit-Shoreway, Cleveland, OH are 2-bedroom and 1-bedroom, accounting for 37.7% and 32.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,230 |
| Studio Rent | $843 | $854 |
| 1 Bed Rent | $825 | $927 |
| 2 Bed Rent | $1,050 | $1,130 |
| 3 Bed Rent | $1,400 | $1,580 |
| 4 Bed Rent | $1,600 | $1,710 |
% of Rental Stock
Property Listings — Detroit-Shoreway, Cleveland, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Detroit-Shoreway, Cleveland, OH is 50. This is a increase of 6.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $185,000 | -12.0% |
Listing Count | 160 | 24.0% |
| Listings as % of Homes | 0.6% | 24.0% |
Days on Market | 50 | 6.0% |
Demographics — Detroit-Shoreway, Cleveland, OH
As of the latest ACS Survey released in 2023, Detroit-Shoreway, Cleveland, OH has a population of 40,200, which has decreased by -11.7% over the past 5 years. Detroit-Shoreway, Cleveland, OH is a moderately popular place for families, as children make up 20.7% of the population. The area has a poorly educated workforce, with 24.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 40,200 | -11.7% |
% Under 18 | 20.7% | -15.5% |
% Seniors | 11.9% | 12.3% |
% WFH | 11.5% | 210.8% |
% w/ College Degree | 24.9% | 36.8% |
As of the latest ACS Survey released in 2023, Detroit-Shoreway, Cleveland, OH is a predominantly white area, with 49.3% of the population identifying as white. The white population has grown by 4.7% in the last 5 years. The second most common race or ethnicity in Detroit-Shoreway, Cleveland, OH is hispanic, making up 25.4% of the population. Foreign-born residents account for 9.0% of the population in Detroit-Shoreway, Cleveland, OH, and this percentage has increased by 50.0% 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 | 49.3% | 4.7% |
% Black | 18.7% | -19.0% |
% Hispanic | 25.4% | -1.6% |
% Asian | 1.5% | -6.2% |
% Foreign Born | 9.0% | 50.0% |
Mortgage and Risk — Detroit-Shoreway, Cleveland, OH
According to HUD data as of 2023, there were 507 mortgage originations in Detroit-Shoreway, Cleveland, OH, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Detroit-Shoreway, Cleveland, OH. Investor activity is low, as 15.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 507 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 15.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Detroit-Shoreway, Cleveland, OH
As of 2024, the percent of homes in Detroit-Shoreway, Cleveland, OH under the Section 8 program is 15.6%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Detroit-Shoreway, Cleveland, OH, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 2,126 |
Total Units Section 8 | 1,889 |
% Rentals under Section 8 | 15.6% |
% Occupied Section 8 | 88.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $35 | $825 | $860 |
| 2 Bedroom | $0 | $1,050 | $1,050 |
| 3 Bedroom | -$50 | $1,400 | $1,350 |
| 4 Bedroom | -$150 | $1,600 | $1,450 |
Affordability — Detroit-Shoreway, Cleveland, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $129,000 |
| Median Household Income | $40,300 |