MARKET SNAPSHOT Cleveland q3 2025

Market Overview

‍The metro Cleveland, OH multifamily sector is facing a moderation in Q3 2025. Asking rent averaged around $1,225 per unit and occupancy sat at 91.3 percent. Net absorption slipped to 975 units year-to-date, while completions reached approximately 2,101 units—more than half of which delivered in Q3. Despite weaker leasing activity for now, the slowed pace of new starts and elevated demand in select submarkets support a pathway to recovery heading into 2026.

‍About MMG

‍MMG Real Estate Advisors is a U.S.-based multifamily research and investment advisory firm that publishes quarterly metro-level market reports. Their Cleveland Q3 2025 study compiles trends in rent, occupancy, absorption, completions and pipeline outlook to help developers, owners and investors assess timing, risk and positioning. To read the full report, click here.