Ohio · 34th largest metro area

Buying a home in Cleveland, Ohio

In Cleveland, the median value of owner-occupied homes is $102,000, Cuyahoga County's effective property tax rate is 2%, a purchase mortgage carried a median $5,357 in total loan costs in 2025, and median gross rent is $945 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Cleveland home costs, fact by fact

About Cleveland

Census estimates show 41.7% of homes are owner-occupied, and median gross rent is $945 per month. For Cuyahoga County, the effective property tax rate (median tax as a share of home value) is 2.0%. The city sits within the Cleveland, OH metro area, ranked 34th among US metro areas.

Calculate for Ohio

If you buy

Ohio state transfer tax

Conveyance fee (collected by the county auditor): Franklin County: $3 per $1,000 of price, of which $1 is the mandatory statewide rate set by state law and $2 is the county's own rate, both paid into the county general fund; $1 per $1,000 if the seller receives the homestead exemption. Change the price: the amount is recalculated instantly.

Price$254,100
State transfer tax$254.10
Share of the price0.1% of the price
Who paysSet by the purchase contract

Default price: the Ohio median value of owner-occupied homes, $254,100 (Census ACS 2025). Rule: Mandatory statewide rate only: round the sale amount up to the nearest $100, then $1 per $1,000 ($0.10 per $100). Franklin County adds $2 per $1,000 set by the county commissioners (waived if the grantor has the homestead exemption), a $3 minimum conveyance fee and a $0.50 transfer tax on every non-exempt transfer. Plus, in Franklin County, which includes Columbus, $2 per $1,000 set by the county commissioners (waived if the seller has the homestead exemption) and a $0.50 transfer tax (Franklin County Auditor). Who pays: The sources do not say who must pay; the contract controls. The reduced homestead rate refers to the grantor (seller), which points to the seller as the party charged. Not included: other county and city transfer taxes, recording fees, title insurance and lender charges. Ohio transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Ohio state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Cleveland

How much is property tax in Cleveland?

Homeowners in Cuyahoga County pay a median $3,910 a year in property tax, 2% of the county median home value of $195,400 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Cleveland?

Home-purchase mortgages in Cuyahoga County carried median total loan costs of $5,357 in 2025; half of the 9,746 loans fell between $4,204 and $7,699 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Cleveland?

Ohio does not call it a transfer tax; counties collect a conveyance fee when a deed is presented to the auditor. Franklin County's calculator shows $3 per $1,000 of the price, made of $1 set by the State of Ohio and $2 set by the county commissioners, plus a $0.50 transfer tax.

Is it cheaper to rent or buy in Cleveland?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Cleveland ($102,000) equals 9 years of the median gross rent ($945 a month), both from Census ACS 2020-2024.

Run your own numbers: rent vs buy calculator · closing costs calculator.

Ohio rules that apply in Cleveland

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Sources

Ohio · All states · Federal guides