Rent Tracker
Rent Inflation in Cleveland, OH
The average asking rent in Cleveland, OH is $1,461/month as of 2026-05. That is +3.9% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$1,461/mo
as of 2026-05
Year-over-Year Change
+3.9%
24-Month Rent Trend
Monthly ZORI index values for Cleveland, OH.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-05 | $1,461 | +0.41% |
| 2026-04 | $1,455 | -0.21% |
| 2026-03 | $1,458 | +0.14% |
| 2026-02 | $1,456 | +0.62% |
| 2026-01 | $1,447 | +0.49% |
| 2025-12 | $1,440 | +0.21% |
| 2025-11 | $1,437 | +0.28% |
| 2025-10 | $1,433 | +0.49% |
| 2025-09 | $1,426 | +0.49% |
| 2025-08 | $1,419 | +0.28% |
| 2025-07 | $1,415 | +0.28% |
| 2025-06 | $1,411 | +0.36% |
| 2025-05 | $1,406 | +0.64% |
| 2025-04 | $1,397 | +0.29% |
| 2025-03 | $1,393 | +0.51% |
| 2025-02 | $1,386 | +0.07% |
| 2025-01 | $1,385 | +0.65% |
| 2024-12 | $1,376 | +0.51% |
| 2024-11 | $1,369 | +0.44% |
| 2024-10 | $1,363 | +0.22% |
| 2024-09 | $1,360 | +0.07% |
| 2024-08 | $1,359 | +0.37% |
| 2024-07 | $1,354 | +0.52% |
| 2024-06 | $1,347 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
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Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices