Metropolitan Statistical Area (MSA):
Cleveland, TN is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the Cleveland, TN metropolitan statistical area (MSA) is a hotbed for real estate activity. The combination of a strong economy, low unemployment rate, and affordable housing costs have made the MSA an attractive destination for both home buyers and renters.
The most recent data from the National Association of Realtors shows that the median sales price for a home in the MSA was $176,000 in September 2018, up 5.4% from the previous year. The median rental price was $1,200, also up 5.4% from 2017.
There are several factors driving these trends. First, the economy in Cleveland is booming thanks to a strong manufacturing base and growing healthcare and education sectors. This has led to increased demand for both residential and commercial properties.
Second, the low unemployment rate means that more people are able to afford a home or apartment. And finally, housing costs are still relatively affordable compared to other parts of the country. This makes Cleveland an attractive option for those looking to buy or rent a property.
Looking ahead, it is likely that these trends will continue in 2019 as more people discover all that Cleveland has to offer. So if you're thinking about buying or renting a property in this vibrant MSA, now is a great time to do so!