$0
Average Rent
$1,264 average rent in Cleveland, Q2 2026
0%
Occupancy Rate
90% occupancy rate Cleveland, Q2 2026
0
T4Q Net Absorption
-34 T4Q net absorption in Cleveland, Q2 2026
0%
Annual Rent Change
2% annual rent change in Cleveland, Q2 2026
0
BPS Annual Occupancy Change
-160 BPS annual occupancy change in Cleveland, Q2 2026
0
T4Q Unit Completions
1,825 T4Q net absorption in Cleveland, Q2 2026
Key Takeaways
- Trailing 12-month absorption of -34 units has significantly lagged the 1,825 units delivered in Cleveland, though quarterly absorption accelerated to 213 units in Q2 2026 from 45 units in Q1, signaling improving demand momentum.
- The under-construction pipeline of 2,333 units (1.6% of inventory) remains manageable, with trailing 12-month starts of 942 units suggesting limited future supply pressure as the market works through its current delivery cycle.
- Effective rents of $1,264 per unit have grown 1.6% year-over-year, while stabilized occupancy of 90.4% reflects a 160 basis point annual decline that is showing signs of deceleration.
Market Overlook
Cleveland’s multifamily market sits at an early-cycle inflection point. Quarterly absorption is accelerating, rent growth is building momentum, and occupancy compression is decelerating, trends that together point toward a market moving past the worst of its supply-demand imbalance…
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