Top 3 Reasons to Invest in Cleveland in 2019

Top 3 Reasons to Invest in Cleveland in 2019

reasons to invest in cleveland

There are several cities across the United States where positive investment factors exist today — places where you can buy high cash flow rental property while prices are still low and watch your equity grow. When you find a market that has all the contributing factors, you’ll probably be able to find good investment opportunities.

Realwealth Network listed some 17 Best Places to Buy Rental Property in the Year 2019 on their website. And Ohio is listed as one, Why? Downtown Cleveland has experienced a renaissance over the past several years, with an estimated $19 billion in development completed or planned since 2010. Just in the last two years, a 10-acre green space downtown was redesigned and has quickly become a gathering place for locals and tourists. The $50-million project is just one of many, including commercial and residential real estate developments.

It’s not a surprise that, in October 2016, Forbes called Cleveland, “America’s Hottest City”, or that Business Insider listed Cleveland as one of nine top US cities for investment in 2017. Having said, here are the Top 3 Reasons to Invest in Cleveland this year:

JOB GROWTH. Cleveland has a fast-growing healthcare and tech sector. Millennials are moving into the area at a rapid pace to take advantage of the job opportunities available at Cleveland companies, including The Cleveland Clinic, Eaton Corporation, and Key Corp.

POPULATON GROWTH. The number of people moving to downtown Cleveland has also gone up 77% from 2000 to 2015—the largest population increase of any Midwest city (including Chicago) and far above the regional average (7.7 percent), according to Brookings. And the pace is picking up, with an all-time high of 12,500 moving downtown just last summer, mostly comprised of the coveted Millennials (ages 18-34).

AFFORDABILITY. In Cleveland it’s still possible to purchase single family homes at a fraction of their mid-2000 prices. For example, in good B neighborhoods homes sell for $70,000 – $85,000 and rent for $800 – $1000/month. This means there’s a good opportunity for cash flow and appreciation in this market. And that’s great news for real estate investors in 2019.

Cleveland is one of the strongest markets in the nation, offering investors high cash flow and future growth. With a workforce of over 2 million people, it has the 12th largest economic region in the nation, and making it one of the reasons to Invest in Cleveland.

TALK TO US! CPD Homes is a Cleveland, Ohio-based company and we buy houses in Cleveland Ohio from struggling landlords, distressed homeowners and even individuals who are looking for a sound investment yielding significant ROI. CPD Homes offers solutions to all homeowners through our knowledge and the knowledge of our broker partner – the best in town. We also buy houses in any kind of distressed real estate situation. Many homeowners in the United States struggle with home ownership, which is why CPD Homes established its service of helping distressed homeowners and answers all questions most home buyers asked.

Need more information? Call us now and we’ll make you an offer — no risk or obligation. Feel free to contact us at 216-619-4387, and we’ll give you more reasons to invest in Cleveland!

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