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Cleveland Ranked 2nd Most Affordable Housing Market in US

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  Published in House and Home on Thursday, January 22nd 2026 at 13:30 GMT by Cleveland.com
      Locale: UNITED STATES

Cleveland, Ohio - January 22nd, 2026 - For aspiring homeowners searching for a balance between cost and opportunity, Cleveland continues to shine. A newly released report from real estate giant RE/MAX has solidified Cleveland's position as a remarkably affordable housing market, ranking it as the second most accessible city for homebuyers in the United States. While national trends have seen housing costs fluctuate, Cleveland's relative stability and lower prices continue to attract buyers.

The RE/MAX Affordability Index, the report's primary tool, assesses affordability by comparing the median home price within a metropolitan area to the median family income. This calculation provides a numerical score; lower scores indicate greater affordability. Cleveland secured a score of 2.68, placing it just behind Youngstown, Ohio, which claimed the top spot with a score of 2.44.

Understanding Cleveland's Affordability:

According to the report, Cleveland's median home price currently sits at $179,900. This figure, when juxtaposed with a median family income of $66,988, underscores the city's attractiveness to potential buyers. While these numbers represent averages, they paint a clear picture of a market where homeownership remains within reach for a larger segment of the population compared to many other major U.S. cities.

The top ten most affordable cities according to the RE/MAX report highlight a regional trend of affordability in the Midwest and South. Following Cleveland, Oklahoma City (2.84), Memphis (2.89), and Wichita (2.92) round out the top five. Other cities making the list include Dayton, Louisville, Fort Wayne, Saginaw, and Akron, further illustrating the relative affordability of these areas.

Beyond the Numbers: Challenges Remain

While the report's findings are encouraging for prospective homebuyers, it's crucial to acknowledge the complexities of the current real estate landscape. The report highlights a persistent challenge: low inventory. Despite the affordability, a limited number of homes available for sale can create competition and drive up prices, even in traditionally affordable markets like Cleveland. This scarcity can make finding the right property a more challenging and potentially protracted process.

Experts suggest that the low inventory is a combination of factors including lingering construction delays following the 2023 supply chain disruptions, homeowners hesitant to sell due to concerns about finding replacement housing, and ongoing labor shortages within the construction industry. This ongoing imbalance between supply and demand is a key factor to watch in the coming months.

Regional Context & Future Outlook

The continued affordability of Cleveland, alongside cities like Youngstown and Oklahoma City, contrasts sharply with the housing market conditions seen in coastal metropolitan areas, where median home prices often exceed $1 million. This difference underscores the growing trend of migration towards more affordable regions, driven by remote work opportunities and a desire for a lower cost of living.

Looking ahead, several factors could influence Cleveland's housing affordability. Interest rate fluctuations, changes in local economic conditions, and the pace of new construction will all play a role. While RE/MAX remains optimistic about Cleveland's long-term prospects, potential buyers should remain informed and prepared for a potentially competitive market, despite the overall affordability.

The RE/MAX Top 10 Most Affordable Cities:

1. Youngstown: 2.44
2. Cleveland: 2.68
3. Oklahoma City: 2.84
4. Memphis: 2.89
5. Wichita: 2.92
6. Dayton: 2.96
7. Louisville: 3.01
8. Fort Wayne: 3.06
9. Saginaw: 3.08
10. Akron: 3.11