Market Snapshot Cleveland Q1 2025

Market Overview

Cleveland anchors a metro area of over 2 million residents and continues to benefit from its position as a healthcare and education hub. Major employers include the Cleveland Clinic, University Hospitals, and Case Western Reserve University. The city is also experiencing momentum in its biomedical and manufacturing sectors, especially in neighborhoods surrounding downtown and University Circle. In Q1 2025, Cleveland’s multifamily market recorded stable occupancy near 94% and modest rent growth, with limited new construction helping maintain pricing stability across core and suburban submarkets.

About MMG

MMG Real Estate Advisors, headquartered in Kansas City, Missouri, offers transaction advisory and market intelligence tailored to multifamily owners and operators. Founded by industry veterans, MMG has expanded its footprint across key Sunbelt and Midwest markets. Their reports focus on actionable insights, covering metrics such as rent growth, absorption, occupancy, and recent transactions. MMG emphasizes visual clarity, concise commentary, and relevance for operators, making them a go-to resource for workforce and value-add housing strategies.