Euclid Ohio Rental Market

[Aaron Sadler]

Question for anyone local to Euclid, Ohio?

I see a lot of nice places for rent on Zillow, and they have been on the market for 30-90 days.

My question is: How easy is it to rent in that city and why are these places not renting? Is it price points? Any local insight would be helpful, as I’m looking to invest in the Euclid area.

Thank you all!

[Robert Matelski]

Originally posted by @Aaron Sadler:

Question for anyone local to Euclid, Ohio?

I see a lot of nice places for rent on Zillow, and they have been on the market for 30-90 days.

My question is: How easy is it to rent in that city and why are these places not renting? Is it price points? Any local insight would be helpful, as I’m looking to invest in the Euclid area.

Thank you all!

There is a TON of demand for rentals in Euclid (and most other suburbs of Cleveland). If the property is priced properly and managed properly, it will rent relatively quickly. The listings that have been up for months are either over-priced for the quality/condition/size of the house/unit, or are managed poorly (e.g., tough for prospective tenants to even get a showing, managers not processing applications in a timely manner, etc.) -- most likely a combination of both. My last turnover in Euclid (on Nicholas Avenue near Euclid High School) was on the market for a week before a qualified tenant was approved and paid her security deposit (Jan. 2020).