Cleveland, OH Multifamily Market Report | MMG Real Estate Advisors | Q1 2026

Market Overview

Cleveland's multifamily market absorbed negative 280 units over the trailing 12 months against 1,933 units delivered in Q1 2026, leaving demand materially behind supply and sustaining lease-up competition across most active construction submarkets. Average effective rents reached $1,254, up 1.3% year-over-year, even as stabilized occupancy of 90.3% reflects a 160 basis point annual decline. The under-construction pipeline has contracted 39% over the past year to 1,816 units (1.3% of inventory), with trailing 12-month starts of just 764 units signaling a materially lighter supply burden ahead as the market navigates the back half of a supply cycle that pushed occupancy well below its long-term average. NOTE: The full report requires submitting contact information through a download form; the description above reflects publicly visible market snapshot data only.

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About MMG Real Estate Advisors

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MMG Real Estate Advisors is a multifamily investment sales and research firm tracking apartment market fundamentals across the Southeast, Midwest, and beyond. Their Q1 2026 Cleveland multifamily market snapshot tracks rent, occupancy, absorption, and supply trends to help owners and investors assess market timing. To read the full report, click here.