Rent to Own Homes in Cleveland
Just 15 miles west of the Blue Ridge Mountains, the city is divided into five major areas, Central Cleveland, Northern Cleveland, Western Cleveland, East Cleveland and South Cleveland. As an industrial center, Cleveland produces cooking equipment, food, furniture, pharmaceuticals, chemicals and auto parts, among others. It is also home to several major corporate headquarters and hosts a bustling retail economy, including a shopping mall with over 50 tenants.
The city also attracts tourists and year-round residents with great access to nature, regional beauty and fun events. On Halloween, the MainStreet Block Party, which started twenty years ago as a candy handout at the Cleveland Police Department, attracts over 20,000 celebrants. Cleveland City Schools provide a strong educational system in the city, and Cleveland High School is particularly known for its athletic programs and football championships.
Buying a Home in Cleveland?
With a strong employment climate, natural surroundings and a family-friendly community environment, home buying in Cleveland is a draw for many. The median listing price for houses in Cleveland is $162,700, and the median valuation for all homes in the city is $125,700. Home values have been steadily increasing in the city and they are anticipated to continue to rise along an upward trend. Home prices have consistently risen since 2009 and are significantly above their pre-2008 prices today.
Popular Neighborhoods in Cleveland?
The small-town feel of Cleveland makes the city feel homey and community-oriented. Its five regions are designated by the United States Census. Central Cleveland is the downtown area, with the business district and the Stuart Heights and Annandale neighborhoods. These communities are particularly good choices for people who value easy access to retail, restaurants and active community life in the town. Northern Cleveland is also home to residential neighborhoods that offer a range of retail and activity options. Burlington Heights, Fairview and Sequoia Grove are neighborhoods that offer close proximity to a range of town activities and shopping centers. To the western side of the city, Hopewell Estates and Rolling Hills offer a more rural environment with wide open spaces.
Buying vs. Rent to Own Homes?
You may be prepared to choose your permanent home in Cleveland but also need some extra time to gather the full down payment that you need. You want the security of homeownership, but also would like to optimize your credit in order to get the best possible rate on your mortgage loan. If this describes you, rent to own options in Cleveland may be a great choice for you and your family. You can make a deal for your home, including the final selling price, but rent it for a few years and then purchase it at the lease expiration period. A portion of your monthly rental fee will also go toward reducing your down payment, putting you in a better position to buy when it's time for the lease to expire. Cost of Living in Cleveland
The cost of living in Cleveland is well below the national average, with at nearly 15 percent under the United States norm. Savings are particularly pronounced in housing, transportation, health care and miscellaneous costs, while goods, services and groceries sit right around the national average for those expenses. The cost of living in the city is also 2 percent lower than the average across the state of Tennessee.
Cleveland is a family-friendly community with a small-town vibe and a strong corporate and industrial economy. For outdoor enthusiasts, the city offers easy access to a range of stunning natural destinations and a number of recreational parks scattered throughout the city for individual fun and organized sports. Cleveland hosts a wide range of community events and celebrations attracting residents and tourists alike.