Cleveland Tennessee Residential Rent and Rental Statistics
The median monthly gross residential rent in Cleveland, TN (the Cleveland metro area) was $770 in 2019 according to the Census ACS survey.1 Average gross rent in Cleveland was $674 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Cleveland median and average rent data will be released in September of 2021.
Data is also available below for Cleveland rental vacancy rates, Cleveland rent as a percent of median income and the fraction of renters in Cleveland.
Real Gross Rent in Cleveland Tennessee (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Tennessee Median Gross Rent | $904 | +3.08% | +7.11% |
| Cleveland, TN Median Gross Rent | $770 | -1.79% | +5.19% |
Cleveland, TN Real Gross Rent Trends
Median gross rent for Cleveland peaked in real terms in 2014 at $785 and is now $15 (1.91%) lower. Average gross rent for Cleveland peaked in real terms in 2015 at $766 and is now $92 (12.01%) lower.
Real Gross Rent in Cleveland: Cleveland TN Median, Cleveland TN Average, Tennessee Median, US Median
Real Gross Rent History for Cleveland
| Date | US Median |
Tennessee Median |
Cleveland, TN Median |
Cleveland, TN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $904 | $770 | $674 |
| 2018 | $1,077 | $877 | $784 | $720 |
| 2017 | $1,043 | $859 | $751 | $735 |
| 2016 | $1,027 | $844 | $732 | $690 |
| 2015 | $1,017 | $833 | $750 | $766 |
| 2014 | $986 | $813 | $785 | $700 |
| 2013 | $953 | $788 | $707 | $651 |
| 2012 | $940 | $777 | $715 | $700 |
| 2011 | $941 | $772 | $716 | $690 |
| 2010 | $955 | $779 | $783 | $727 |
| 2009 | $960 | $777 | $718 | $671 |
| 2007 | $927 | $745 | $671 | $604 |
| 2005 | $910 | $729 | $646 | $499 |
Cleveland Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2018 the rental vacancy rate for Cleveland Tennessee was 5.54% according to Census ACS data.
Rental Vacancy Rate in Cleveland Tennessee
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Tennessee | 7.27% | -0.29% | +0.59% |
| Cleveland, TN | — | — | — |
Trends in Cleveland, TN Rental Vacancy Rate
The rental vacancy rate in Cleveland peaked in 2008 at 13.30%. Since then it has fallen by 7.76% to 5.54%. Data records for this series originated in 2005.
Rental Vacancy Rate: Cleveland TN, Tennessee, US
Historical Rental Vacancy Rate data for Cleveland
| Date | US | Tennessee | Cleveland, TN |
|---|---|---|---|
| 2019 | 5.97% | 7.27% | — |
| 2018 | 6.15% | 7.56% | 5.54% |
| 2017 | 6.18% | 6.67% | — |
| 2016 | 5.89% | 6.68% | — |
| 2015 | 5.85% | 7.13% | — |
| 2014 | 6.32% | 7.24% | 8.00% |
| 2013 | 6.49% | 7.86% | 7.02% |
| 2012 | 6.77% | 7.89% | 5.25% |
| 2011 | 7.40% | 8.54% | 9.70% |
| 2010 | 8.17% | 10.33% | 12.77% |
| 2009 | 8.43% | 10.52% | 8.59% |
| 2007 | 7.87% | 9.20% | 4.91% |
| 2005 | 7.74% | 8.82% | — |
Rent as a Fraction of Income
Using median household income data for Cleveland, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Cleveland, median monthly gross rent as a fraction of median household income was 17.71% in 2019 according to the ACS.
Cleveland Tennessee Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Tennessee | 19.35% | -0.38% | -0.58% |
| Cleveland, TN | 17.71% | -1.50% | -0.98% |
Trends in Cleveland, TN Rent as a Fraction of Income
The fraction of median Cleveland household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 22.62%. Since then it has fallen by 4.91% to 17.71%.
Fraction of Income towards Rent: Cleveland TN, Tennessee, US
Historical Data for Annual Rent as a Fraction of Income in Cleveland Tennessee
| Date | US | Tennessee | Cleveland, TN |
|---|---|---|---|
| 2019 | 20.03% | 19.35% | 17.71% |
| 2018 | 20.50% | 19.73% | 19.21% |
| 2017 | 20.13% | 19.47% | 18.66% |
| 2016 | 20.43% | 19.92% | 18.69% |
| 2015 | 20.63% | 19.93% | 20.02% |
| 2014 | 20.89% | 20.83% | 21.68% |
| 2013 | 20.78% | 20.26% | 19.12% |
| 2012 | 20.65% | 20.48% | 21.03% |
| 2011 | 20.70% | 20.58% | 21.45% |
| 2010 | 20.50% | 20.17% | 22.62% |
| 2009 | 20.12% | 19.61% | 19.69% |
| 2007 | 18.66% | 17.96% | 18.05% |
| 2005 | 18.89% | 18.00% | 16.53% |
Renter Fraction in Cleveland Tennessee
You can calculate the renter fraction in Cleveland in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Cleveland as a fraction of total Cleveland households. In 2019 33.13% of households were renters according to Census ACS data.
Cleveland Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Tennessee | 33.49% | -0.28% | -1.42% |
| Cleveland, TN | 33.13% | +0.56% | +0.19% |
Trends in the Cleveland, TN Renter Fraction
The Cleveland household renter fraction peaked in in 2015 at 37.33% and is now 4.20% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Cleveland TN, Tennessee, US
History of Cleveland Renter Fraction
| Date | US | Tennessee | Cleveland, TN |
|---|---|---|---|
| 2019 | 35.89% | 33.49% | 33.13% |
| 2018 | 36.05% | 33.77% | 32.57% |
| 2017 | 36.13% | 34.57% | 34.23% |
| 2016 | 36.88% | 34.91% | 32.94% |
| 2015 | 36.97% | 34.18% | 37.33% |
| 2014 | 36.90% | 33.86% | 31.99% |
| 2013 | 36.50% | 33.62% | 30.92% |
| 2012 | 36.09% | 33.31% | 34.33% |
| 2011 | 35.42% | 32.72% | 32.10% |
| 2010 | 34.65% | 31.87% | 28.47% |
| 2009 | 34.13% | 30.85% | 29.33% |
| 2007 | 32.80% | 30.06% | 31.53% |
| 2005 | 33.10% | 30.74% | 29.05% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
