Cleveland, Ohio Short-Term Rental Market
Cleveland STRs averaged $136/night at 58.9% occupancy in April 2026 across roughly 5,900 active listings.
Quick Answer: Cleveland, Ohio is an active short-term rental market. average occupancy is 59%. average monthly revenue is $2,281. average daily rate is $136. the top operator is HomeHop with 72 listings. market score is 93/100 (grade A).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Cleveland’s short-term rental market is one of the largest in Ohio, with approximately 5,918 active listings across the metro area. In April 2026, the market posted an average daily rate of $136 and occupancy of 58.9%, generating $80 in RevPAR. Year-over-year through April 2026, ADR rose 2.5% while revenue per listing climbed 4.9%, even as occupancy dipped a modest 2.3 percentage points.
Entire-place listings dominate the supply, accounting for 5,045 of roughly 5,918 total listings (85%), with private rooms making up most of the remainder (861 listings). Airbnb is the primary distribution channel: 3,378 listings are Airbnb-only, 252 are VRBO-only, and 2,288 appear on both platforms. By bedroom count, 1-bedroom units lead with 2,397 listings, followed by 2-bedroom (1,748), 3-bedroom (1,094), 4-bedroom (439), and 5-bedroom-plus (221).
The market earned a composite score of 93.3 out of 100 on investability metrics, with particularly strong rental demand (86.4) and investability (95.0) scores. The regulatory score of 70.2 reflects Cleveland’s evolving STR rules, while a revenue growth score of 60.4 signals more moderate momentum than in prior years. Cleveland’s 18.6 million annual visitors, concentrated demand around sports events, the Rock and Roll Hall of Fame, and professional conferences, and a relatively accessible entry price point together make this a sizable, competitively liquid market.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 47% | $97 | $1,387 |
| Feb | 55% | $102 | $1,423 |
| Mar | 55% | $108 | $1,599 |
| Apr | 56% | $115 | $1,713 |
| May | 61% | $119 | $1,929 |
| Jun | 68% | $126 | $2,243 |
| Jul | 70% | $128 | $2,472 |
| Aug | 67% | $128 | $2,361 |
| Sep | 60% | $124 | $2,012 |
| Oct | 59% | $118 | $1,954 |
| Nov | 55% | $111 | $1,685 |
| Dec | 53% | $110 | $1,664 |
Top Short-Term Rental Operators in Cleveland
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | HomeHop | 72 | 3,247 | ★ 4.82 |
| 2 | AMH Rental Properties | 67 | 4,974 | ★ 4.88 |
| 3 | Evolve | 61 | 1,552 | ★ 4.56 |
| 4 | One Stone Property Group | 60 | 3,837 | ★ 4.76 |
| 5 | Hostpros, LLC | 57 | 6,564 | ★ 4.81 |
What Kind of STR Should I Buy in Cleveland?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,397 |
| 2 bed | 1,748 |
| 3 bed | 1,094 |
| 4 bed | 439 |
| 5 bed | 221 |
ADR by Property Tier
| Entire Home | $151 |
| Luxury | $265 |
| Professionally Managed | $169 |
Revenue by Dwelling Type
| Apartment | $2,101 |
| Entire Place | $2,509 |
| House | $2,471 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 57.1% |
| vrbo | 4.3% |
| both | 38.7% |
Investment Analysis
Cleveland’s appeal as an STR investment market rests on one standout factor: unusually low acquisition costs relative to rental income. The typical home value is $117,703, and the median sale price is $115,083, making Cleveland one of the most affordable major metro STR entry points in the Midwest.
At the April 2026 average monthly revenue of $2,281 per listing, annualized gross revenue runs approximately $27,372. Against a $117,703 purchase price, that implies a gross yield of approximately 23.3%, well above the national STR average. Even applying conservative expense assumptions (40-50% of gross revenue for mortgage, taxes, insurance, management, and maintenance), net returns are substantially above what most comparable-cost markets offer.
Performance stratifies clearly by tier. Entire-place listings averaged $150.51 per night versus $136.41 for all listings. Luxury-tier units reached $264.58 per night, and professionally managed properties averaged $169.12 per night, a $33 premium over the all-listings ADR. Entire-place revenue averaged $2,509 per month versus $2,471 for houses and $2,101 for apartments.
Annual revenue growth has been consistent: average annual revenue per listing grew from $1,310 in 2017 to $2,367 in 2025 (2025 full-year average). The housing market is somewhat buyer-favorable, with a sale-to-list ratio of 0.814 and 14 median days to pending, suggesting negotiating room exists. Inventory stands at 1,071 active for-sale listings. New STR licensing rules taking effect in late 2026 may add operating costs but are not expected to constrain existing operators significantly.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Cleveland STR guests book an average of 28.4 days in advance and stay an average of 4.63 nights. Both figures have practical implications for pricing and operations.
A 28-day lead time is relatively short by national STR standards, where 45 to 60 days is common in leisure-dominant markets. This suggests Cleveland draws a meaningful share of spontaneous and last-minute travelers, possibly tied to business trips, sports events, or concerts at the many downtown venues. Hosts should keep calendars open well into the future to capture early planners, but should also monitor and tighten pricing in the 0 to 14 day window to avoid discounting unnecessarily.
The 4.63-night average length of stay is longer than a pure weekend-trip pattern, pointing toward a mix of extended weekend stays and mid-week business or event-driven bookings. Longer stays reduce turnover frequency and cleaning costs per booking. Minimum night requirements of 2 to 3 nights during peak season can help filter for higher-value stays while keeping the calendar productive.
Short-Term Rental Regulations
Cleveland requires STR operators to register with the Department of Building and Housing and obtain a Certificate Approving Rental Occupancy. The existing rental registration fee is $70 per unit, paid annually by March 31, and requires passing code inspections.
In June 2026, Cleveland City Council passed a dedicated STR ordinance that takes effect after a 180-day delay. The new law creates a $150 annual STR license, requires a local contact reachable within one hour, mandates at least $300,000 in liability insurance, caps STR density at 10% of units per block or building, and establishes occupancy limits. Licenses can be revoked after three or more nuisance incidents in a year, and penalties range from $1,000 to $5,000. A grandfather clause applies to existing operators.
STRs are defined locally as units rented for under 30 days and more than 91 days per year. Primary residence is a stated expectation in several regulatory guides, and the newly enacted ordinance incorporates a primary-residence requirement. The city levies a 3% transient occupancy tax on stays under 30 days, separate from and in addition to Cuyahoga County’s bed tax (commonly cited at 5.5% to 6.5%). Airbnb remits the county tax on behalf of hosts, but hosts are responsible for the city’s 3% levy. Enforcement is rated moderate. Operators should monitor Ohio preemption bills HB 109 and SB 10, which could override local STR rules statewide.
Market Comparison
Cleveland’s 58.9% occupancy in April 2026 exceeds the U.S. STR median of approximately 55%, a notable result for a Midwest urban market without the leisure draw of a beach or mountain destination. The $136 ADR sits well below the U.S. median of approximately $220, reflecting Cleveland’s lower cost-of-living base and the competitive pricing pressure from a large supply of affordable listings.
The combination of below-average ADR and above-average occupancy produces a RevPAR of $80.28, which is lower than high-ADR leisure markets but competitive given the low acquisition costs. The investability score of 95.0 reflects the strength of the income-to-cost ratio rather than absolute rate.
Among property managers, HomeHop leads with 72 listings and 3,247 reviews at a 4.815 average rating. AMH Rental Properties holds 67 listings across 4,974 reviews at 4.875 stars, and Evolve manages 61 listings with 1,552 reviews at 4.556 stars. One Stone Property Group (60 listings, 3,837 reviews, 4.760 stars) and Hostpros, LLC (57 listings, 6,564 reviews, 4.811 stars) round out the top five. No single operator dominates; the top five collectively hold 317 listings, or about 5% of the active market, indicating a fragmented, independent-host-driven supply.
Frequently Asked Questions About Cleveland, Ohio
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