Cleveland, TN—37323
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cleveland, TN
As of Nov '25, the median home price in Cleveland, TN is $294,000, with a year-over-year change of 0.5%. This indicates that home prices in Cleveland, TN are flat. According to Zillow, the 1-year price projection is 3.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $294,000 | 0.5% |
| Single Family | $294,000 | 1.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $244,000 | 3.0% |
3 Bed | $314,000 | 1.3% |
4 Bed | $384,000 | 2.1% |
| 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 $1,770, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Cleveland, TN is 1-bedrooms: $829, 2-bedrooms: $1,560, 3-bedrooms: $1,910, 4-bedrooms: $2,000. The most common rental property sizes in Cleveland, TN are 2-bedroom and 3-bedroom, accounting for 49.3% and 39.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,770 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $795 | $829 |
| 2 Bed Rent | $1,600 | $1,560 |
| 3 Bed Rent | $1,950 | $1,910 |
| 4 Bed Rent | $2,000 | $2,000 |
% of Rental Stock
Property Listings — Cleveland, TN
As of Nov '25, Realtor.com reports that the median days on market for a home in Cleveland, TN is 66. This is a increase of 11.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $335,000 | 5.0% |
Listing Count | 173 | 0.0% |
| Listings as % of Homes | 1.0% | 0.0% |
Days on Market | 66 | 11.0% |
Demographics — Cleveland, TN
As of the latest ACS Survey released in 2023, Cleveland, TN has a population of 30,800, which has decreased by -1.3% over the past 5 years. Cleveland, TN is a moderately popular place for families, as children make up 23.0% of the population. The area has a poorly educated workforce, with 18.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,800 | -1.3% |
% Under 18 | 23.0% | 0.4% |
% Seniors | 16.1% | -1.8% |
% WFH | 8.0% | 110.5% |
% w/ College Degree | 18.3% | 4.6% |
As of the latest ACS Survey released in 2023, Cleveland, TN is a predominantly white area, with 88.3% of the population identifying as white. The white population has shrunk by 5.7% in the last 5 years. The second most common race or ethnicity in Cleveland, TN is hispanic, making up 7.4% of the population. Foreign-born residents account for 4.0% of the population in Cleveland, TN, and this percentage has increased by 53.8% 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 | 88.3% | -5.7% |
% Black | 1.7% | 0.0% |
% Hispanic | 7.4% | 184.6% |
% Asian | 0.1% | -66.7% |
% Foreign Born | 4.0% | 53.8% |
Mortgage and Risk — Cleveland, TN
According to HUD data as of 2023, there were 777 mortgage originations in Cleveland, TN, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Cleveland, TN. Investor activity is low, as 4.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 777 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 16.0% |
Rentals and Section 8 — Cleveland, TN
As of 2024, the percent of homes in Cleveland, TN under the Section 8 program is 1.7%. 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 units appear to be good home sizes to consider for Section 8 housing in Cleveland, TN, 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 | 53 |
Total Units Section 8 | 52 |
% Rentals under Section 8 | 1.7% |
% Occupied Section 8 | 62.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $155 | $795 | $950 |
| 2 Bedroom | -$360 | $1,600 | $1,240 |
| 3 Bedroom | -$330 | $1,950 | $1,620 |
| 4 Bedroom | -$360 | $2,000 | $1,640 |
Affordability — Cleveland, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $294,000 |
| Median Household Income | $67,500 |