Rent.com recently reported that the following five neighborhoods are seriously hot right now, and are officially the most expensive spots where average apartment/house rents have shown the most growth.
1. University Circle
Price increase over the past year: 44.28 percent
Average rent for one-bedroom in University Circle: $1,8532. Gateway District
Price increase over the past year: 11.83 percent
Average rent for one-bedroom in Gateway District: $1,3983. Hough
Price increase over the past year: 7.74 percent
Average rent for one-bedroom in Hough: $1,4154. Downtown Cleveland
Price increase over the past year: 7.34 percent
Average rent for one-bedroom in Downtown: $1,3665. Warehouse District
Price increase over the past year: 3.60 percent
Average rent for one-bedroom in Warehouse District: $1,185
To determine the numbers, the good people at Rent.com compared this year’s average rent prices on their site of all Cleveland’s neighborhoods with all of those from last year. While some neighborhoods like Ohio City may have similar high-end rents, those prices have stayed about the same over the past year.
The east side’s University District, with its bevy of students and doctors to take money from, seems like a likely choice for rental hikes. And the nearby Hough neighborhood has benefited from that as well.
Cleveland’s downtown areas have been burgeoning for years, but that the Gateway District’s rentals went up by 11 percent is still somewhat of a surprising leap.
Find the entire report at Rent.com.
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This article appears in Jul 24-30, 2019.
Which is why the Hessler Fair is going away for good. The few old hippies left got pushed out by gentrification and replaced by students with bulging wallets who don’t give two shits about the 60s or tradition or much of anything else but themselves. They’re called selfies for a reason. More like self-ISH.
Rents in the Circle are getting close to what my niece pays in the Bay Area. Does Cleveland look and feel like Berkeley? Hardly. Reading these figures is depressing as hell. And it’s ridiculous. But it’s the way of the world now, and the way of the New Greed…oops…make that…Breed. F’k it…same thing…not gonna fix it.
As a former University Circle resident, my rent went from $850 in 2018 to $1,300 in 2019. Good bye University Circle – I love the neighborhood but not the landlords who realize they can just take checks from mom and dad.
Where is your daughter living in the Bay Area for$1,800/month…a dumpster?
I suspect that the rents have to be jacked up so much there because of the outrageous, ma$$ive property tax increases that took place across the entire county late last year.
Its very sad to hear that rents have to be increased so much, just to make up for the huge property taxes that we have to fork over to our local thieving County politicians!!!
Its time to oust thief Budish and send him right to jail for his constant shenanigans!!!
Read it again, stupid…my niece…not my daughter. Reading comprehension , much?
She’s sharing a two-bedroom condo right next to the campus and she pays almost almost two grand for her half of the monthly rent. Actually, that’s a bargain for Berkeley…and she knows it…because everyone tells her so. She found the place eight years ago, when she left the Midwest to start a doctoral program.
Her partner lives and works forty miles to the south…and if my niece didn’t have an extremely good (and lucrative) job in the Bay Area (she recently got her Ph. D.)…she would be out of there in a heartbeat. It’s the most expensive place in the country…far surpassing Boston and New York.
While some parts of Cleveland are gentrifying and becoming ridiculously expensive for what you get, (a shinny new box with a little balcony) others are becoming cesspools of crime and trashy lowlifes. Your perspective will depend on your age, color, employment status, and income. Same as everywhere else in this nation of haves and have-nots.
Circus Boy: Cleveland is getting better and worse at the same time. Your perspective on which direction it appears to be going will depend those same criteria: your age, color, employment status, and income. The glass can either look half-full or half empty, and appear to either be either emptying or filling up…it’s all in the way you’re viewing the same glass at the same time. To someone young and affluent, it’s filling up. To someone old and poor, it’s emptying.
All those new apartments on Mayfield are turning another neighborhood…Little Italy/Murray Hill…into a gentrifying joke…some of them are ridiculous…at least for Cleveland. There’s La Collina…the one with all the retail space on the ground floor. $2200-$3575 monthly, depending on size of the space. And that’s just to get into the joint. But you’d better pass the rental, credit, criminal history and income inquiries. They WILL investigate your finances. Hey, is this for people who are GOING to CIA…or WORKING for that other one… with the same initials?
Dogs and cats OK, but breed restrictions apply. $350 pet deposit, and $35 monthly thereafter. And then another $175 for monthly parking. You need a storage unit? For the crap that won’t fit? Fuhgeddaboudit, unless you fork over another $50 every month. Yeah, you get free cooking gas…or is it for heat? And they’ll take your trash and recycling, but you pay for electric, water, sewer, and cable. So your total is going to be somewhere between $2700 and $4000 a month. To rent. In Little Italy.
Who the hell are they targeting? The people at the highest levels who run Case? Medical professionals from the Clinic and UH? Certainly not grad students. Maybe folks from New York and San Francisco who are used to this sort of thing and to whom money means nothing and are suckers?
My wife and I read the brochure during the Feast and she laughed. Me? I cried. Kiss the Little Italy you know and love good-bye, except in mid-August. And once all those old Italian paisanos die off, it will be Little Italy in name only. One of my favorite hoods in this town. What a goddam shame. A one-finger salute to the developers of La Collina.