Despite a weakening national market, Ohio is seeing increased home sales as of April 2015, picking up on a trend seen across the Midwest.
According to the Ohio Association of Realtors, Ohio home sales are up 2.3 percent from March 2015 to April 2015, which makes sense in light of the state’s (and especially Cleveland’s) growing and rapidly diversifying economy.
Historically a city that has economically relied on the manufacturing sector, today government incentives have helped to develop Cleveland’s science and technology industries. A 2014 article by CNN Money on Cleveland’s booming economy highlights how the dwindling manufacturing economy — down 41 percent between 1990 and 2012 — has been replaced by health-care employment (up 55 percent), professional, scientific and technical service jobs (up 27 percent) and exports medical equipment devices (up 112 percent).
Cleveland is home to the renowned Cleveland Clinic, a leading provider in world class medical care and groundbreaking research. Discoveries and accolades for the clinic include the successful completion of the first near-total face transplant and the creation of the Cleveland Heartlab, which helps turn research and inventions into viable medical products. Many other biotech startups have been spawned from the research and backing of the clinic as well.
But Cleveland is more than a thriving economic hub; it’s also a city with an incredibly robust culture. Home to iconic tourist attractions such as The Rock and Roll Hall of Fame Museum, Cleveland draws big-name musical acts and pays homage to some of rock’s greatest musicians while also providing a rich environment for up-and-coming artists.
Cleveland is also the stomping ground for professional sports teams including the Cleveland Indians baseball team, the Cleveland Cavaliers basketball team and the Cleveland Browns football team. It’s home to many famed sports stars, one of the most notable being LeBron James.
If that’s not reason enough to make Cleveland your home, Cleveland is also the home to one of the largest performing arts centers, second only to those found in New York City. One such venue known as the Playhouse Square draws some of the most popular Broadway shows and operas to an annual audience of more than 1 million people.
Looking to buy a home in Cleveland? We’ve got good news — homes in Cleveland are some of the most affordable in the country. The median home value in the Cleveland metropolitan area is around $141,000, according to the U.S. Census Bureau. That’s significantly lower than rates in neighboring Pennsylvania and New York and comparable to those in Michigan.
Ashley Steel is a former SEO analyst for Builders Digital Experience (BDX).
She was previously a staff writer and editor for New Home Source, where she wrote about a variety of topics, from helping Realtors understand how to assist clients in choosing new home options to helping consumers find home design inspiration in a variety of places including a chic industrial-style bar to chicken coops.
Steel is a 2013 graduate of the University of Texas at Austin with a double major in Latin American Studies and Spanish. Previous to joining BDX, she worked with Latinitas, a nonprofit group that aims to encourage Latino youth to explore the fields of media and technology.