The typical owner-occupied home in Cleveland is worth about $334,000, 10% above the Georgia median of $303,300 and about the same as the national median of $332,700. Owners pay a median $2,056 a year in property taxes, about 0.62% of their home's value, lower than the Georgia rate of 0.77%. The median household earns $64,450 a year, so the median home costs 5.2 times the median income (3.9 times for Georgia). 61% of occupied homes here are lived in by their owners, and 60% of those owners still have a mortgage.
Cleveland at a glance
| Cleveland | Georgia | U.S. | |
|---|---|---|---|
| Median home value | $334,000 | $303,300 | $332,700 |
| Median property tax paid per year | $2,056 | $2,341 | $3,119 |
| Property tax as a share of value | 0.62% | 0.77% | 0.94% |
| Median household income | $64,450 | $77,353 | $80,734 |
| Homes lived in by their owners | 61% | 66% | 65% |
| Owner homes with a mortgage | 60% | 63% | 61% |
| Median monthly costs, owners with a mortgage | $1,425 | $1,783 | $1,963 |
| Those costs as a share of the owners' income | 18.0% | 20.0% | 21.0% |
| Median rent | $1,099 | $1,393 | $1,413 |
| Rent as a share of renters' income | 31.3% | 31.3% | 30.6% |
| Median year homes were built | 1993 | 1992 | 1980 |
| Vacant homes | 6.3% | 10.3% | 10.1% |
| Population | 3,534 | 10,940,407 | 334,922,499 |
What a typical home costs per month in Cleveland
At this week's average 30-year rate of 7.11%, buying the median Cleveland home of $334,000 with 20% down costs about $2,109 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,666, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $90,394 for the 20%-down payment. That payment is 39% of the median Cleveland household income of $64,450; at that income and 20% down, the 28% guideline points to a home of about $238,000.
The median rent here is $1,099 a month, so owning the median home costs about $1,010 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $66,800 |
|---|---|
| Loan amount | $267,200 |
| Principal and interest | $1,797 |
| Property taxes (0.62% a year) | $173 |
| Homeowners insurance (our estimate, 0.5% a year) | $139 |
| PMI | $0 |
| Total per month | $2,109 |
Change the numbers in the calculator
| Down payment | $11,690 |
|---|---|
| Loan amount | $327,950 |
| Principal and interest | $2,206 |
| Property taxes (0.62% a year) | $173 |
| Homeowners insurance (our estimate, 0.5% a year) | $139 |
| FHA mortgage insurance | $148 |
| Total per month | $2,666 |
Change the numbers in the calculator
Questions about home buying in Cleveland
What is the median home value in Cleveland?
About $334,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cleveland?
Homeowners pay a median $2,056 a year, which is about 0.62% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Cleveland?
For the median home with 20% down at 7.11%, the payment is about $2,109 a month. Keeping that under 28% of gross income takes about $90,394 a year.
More about Cleveland
- Mortgage Refinance in Cleveland
- Debt Relief in Cleveland
- Home Equity Loans in Cleveland
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data