The typical owner-occupied home in Cleveland is worth about $174,400, 39% below the Texas median of $283,800 and 48% below the national median of $332,700. Owners pay a median $2,929 a year in property taxes, about 1.68% of their home's value, higher than the Texas rate of 1.49%. The median household earns $54,519 a year, so the median home costs 3.2 times the median income (3.6 times for Texas). 63% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Cleveland at a glance
| Cleveland | Texas | U.S. | |
|---|---|---|---|
| Median home value | $174,400 | $283,800 | $332,700 |
| Median property tax paid per year | $2,929 | $4,232 | $3,119 |
| Property tax as a share of value | 1.68% | 1.49% | 0.94% |
| Median household income | $54,519 | $78,476 | $80,734 |
| Homes lived in by their owners | 63% | 63% | 65% |
| Owner homes with a mortgage | 59% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,829 | $2,106 | $1,963 |
| Those costs as a share of the owners' income | 22.3% | 21.7% | 21.0% |
| Median rent | $930 | $1,403 | $1,413 |
| Rent as a share of renters' income | 29.2% | 30.9% | 30.6% |
| Median year homes were built | 1984 | 1992 | 1980 |
| Vacant homes | 13.0% | 9.4% | 10.1% |
| Population | 8,984 | 30,188,424 | 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 $174,400 with 20% down costs about $1,255 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,546, 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 $53,802 for the 20%-down payment. That payment is 28% of the median Cleveland household income of $54,519; at that income and 20% down, the 28% guideline points to a home of about $177,000.
The median rent here is $930 a month, so owning the median home costs about $325 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $34,880 |
|---|---|
| Loan amount | $139,520 |
| Principal and interest | $939 |
| Property taxes (1.68% a year) | $244 |
| Homeowners insurance (our estimate, 0.5% a year) | $73 |
| PMI | $0 |
| Total per month | $1,255 |
Change the numbers in the calculator
| Down payment | $6,104 |
|---|---|
| Loan amount | $171,241 |
| Principal and interest | $1,152 |
| Property taxes (1.68% a year) | $244 |
| Homeowners insurance (our estimate, 0.5% a year) | $73 |
| FHA mortgage insurance | $77 |
| Total per month | $1,546 |
Change the numbers in the calculator
Questions about home buying in Cleveland
What is the median home value in Cleveland?
About $174,400 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 $2,929 a year, which is about 1.68% 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 $1,255 a month. Keeping that under 28% of gross income takes about $53,802 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