Cleveland, OH Economy


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Cleveland, OH is an affordable city to live in; the average rent for a two bedroom apartment is $940 compared to the national average of $1,430. Furthermore, the cost of groceries are more affordable as well with an index score at 94 versus 100 nationally. It is located on the southern coast of Lake Erie and along the Cuyahoga River, making it a great destination for outdoor activities. Its vibrant music scene boasts popular artists like Kid Cudi and Bone Thugs-N-Harmony. The city has many entertainment options including Playhouse Square Theatre, Cleveland Museum of Art, and Great Lakes Science Center. Additionally, some major companies with their headquarters in Cleveland include Cliffs Natural Resources Inc., Eaton Corporation, KeyCorp, and Forest City Realty Trust.

Cleveland has an unemployment rate of 6.8%. The US average is 6.0%.

Cleveland has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 21.4%, which is lower than the US average of 33.5%.

Tax Rates for Cleveland
- The Sales Tax Rate for Cleveland is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Cleveland is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for Cleveland
- The average income of a Cleveland resident is $17,436 a year. The US average is $28,555 a year.
- The Median household income of a Cleveland resident is $33,678 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyCleveland, OhioUnited States
  Population by Occupation
Reviews for Cleveland
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Over 2 years ago

I live in a suburb right outside of Cleveland. I fear Cleveland gets a bad wrap in many people eyes. Although many families moved to the area for steel and auto  More

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I relocated to Cleveland 8 months ago from south of Columbus, OH. Having spent a lot of time in Columbus and central Ohio, I wanted to change. So I spontaneously decided  More

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Lived in Cleveland for 10 years. Loved it. Of course it has its issues, but there are a lot of great things about this city, and the people that live there should  More

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