Rent, Occupancy Increases Seen for Cleveland Apts

The average asking monthly rent for Cleveland apartments will increase to $700/ month this year, a 1.7 percent gain from last year's average monthly rent of $688, according to a forecast from Marcus & Millichap. Cleveland's apartment vacancy rate is expected to drop two-tenths of a percentage point to 6.4 percent in 2006. The median sale price of Cleveland apartments rose 8 percent to $33,050/unit last year. Article via Loopnet News