Cleveland Home Prices: $308K, Up 0.7% — 4 ZIPs Analyzed (2026)

$308,293. That’s what a typical home in Cleveland, TN costs as of February 2026, up 0.7% from a year ago. Prices have climbed for six straight months, but the gains are small — roughly $800 per month.

Quick answer: The average home price in Cleveland, TN is $308,293 as of February 2026, up 0.7% year over year according to Zillow.

Current Home Prices in Cleveland

The headline number is $308K. The story underneath is a market that is moving sideways with a slight upward bias.

The 0.7% annual gain trails inflation. In real terms, Cleveland homeowners barely held value over the last 12 months. But the recent momentum tells a different story. Between November 2025 and February 2026, the median rose from $305,761 to $308,293 — a $2,532 increase in four months.

The price spread between the cheapest and most expensive ZIP is $99,333. That’s a 40% gap from bottom to top inside a city of roughly 50,000 people. Where you buy matters more than when you buy.

Cleveland sits in southeast Tennessee, about 30 miles from Chattanooga. The price floor here is well below the state’s larger metros. You can still buy under $250K in 37311. That floor has been disappearing in Nashville and Franklin for years.

Cleveland Home Prices by Neighborhood

Four ZIP codes, four very different price points. ZIP 37310 leads the table; 37311 anchors the bottom.

Most Expensive

• 37310 — $346,942. The top of the Cleveland market by a hair, edging out 37312 by less than $3,200. No rent data is available here, suggesting fewer rentals in the inventory.
• 37312 — $343,745. Just behind 37310 but with rent at $1,349 — the same rent as the city’s cheapest ZIP. Buyers pay a premium for housing stock that landlords aren’t pricing as high.
• 37323 — $294,877. The third-priciest ZIP, but it commands the highest rents at $1,656/month. That rent-to-price ratio is the strongest in the city for landlords.

Most Affordable

• 37311 — $247,609. The only ZIP under $250K. Almost 20% below the city average.
• 37323 — $294,877. The second-cheapest, but rents here are $300/month higher than in 37311. Renters pay more; buyers pay less.
• 37312 — $343,745. The third-most-affordable is also the second-most-expensive — that’s how compressed the top of this market is.

Rent vs Buy in Cleveland

Renting wins on monthly cost. It’s not close.

Take the cheapest ZIP, 37311. The median home there costs $247,609. With 20% down ($49,522) and a 30-year loan at current rates near 7%, principal and interest alone runs about $1,318 per month. Add property taxes, insurance, and maintenance, and the all-in monthly cost lands closer to $1,800-$1,900. Median rent in 37311? $1,349.

You’d pay roughly $500 more per month to own. That’s $6,000 a year in carrying costs before any down payment.

The math gets worse in the mid-priced ZIP. In 37323, a $294,877 home with the same financing costs around $2,150 per month all-in. Rent there is $1,656 — a $500 gap that mirrors 37311.

The rent-to-own gap is widest in 37312, where rent has not kept up with home prices. That ZIP rewards buyers most if you stay long enough for appreciation to recover the gap.

Population Growth and Migration

Cleveland is growing. Slowly, but consistently.

The city added 2,321 residents over four years — a 4.8% gain. Growth accelerated in the last two years: 702 new residents in 2023, then 904 in 2024. That’s the fastest pace of the period.

Cleveland trails the bigger Tennessee growth stories, but it isn’t shrinking.

Cleveland is growing faster than Knoxville and roughly matches Chattanooga. That’s notable because Chattanooga is 25 minutes south and dominates regional jobs reporting. The fact that a smaller satellite city is keeping pace suggests spillover demand from buyers priced out of Chattanooga proper.

For housing, steady population growth on a small base means demand absorbs new inventory without the boom-bust swings of larger metros.

Cleveland Housing Market Trends

Twelve months of data show a market that bottomed in summer 2025 and recovered.

The low was $302,855 in August 2025. From March through August, the median fell $3,155. Then it reversed. Six straight months of gains followed, adding back $5,438 — more than the entire decline.

The recovery is steady, not spiky. Monthly gains have ranged from $548 to $1,293. There’s no single month that distorts the trend.

This pattern lines up with seasonal buying: weakness through summer, strength through winter. What’s notable is that the winter rebound carried prices above where they started a year ago. Many smaller markets failed to clear that bar.

Is Cleveland a Good Place to Buy in 2026?

The data points to a balanced market with slight seller advantage.

Year-over-year prices are up 0.7%. Six months of consecutive gains. Population growing 4.8% over four years. Those are seller signals — but the gains are too small to call this a hot market.

For buyers, the math works if you plan to stay 5+ years. Renting is cheaper monthly in every ZIP, but the gap is recoverable through appreciation if Cleveland keeps growing. The cheapest ZIP, 37311, is the most defensive entry point — under $250K with rent costs roughly equal to the carrying cost of ownership.

The risk: if growth slows or the regional economy weakens, this market doesn’t have the volume to absorb a downturn quickly. Four ZIP codes is a small market.

For sellers, the recent momentum favors listing now over waiting. Six months of gains suggests pricing power, but the gains are modest — don’t overprice expecting bidding wars.

Cleveland Housing Market Outlook for 2026-2027

The 3-month trend shows median prices rising about $810 per month. If the current pace continues, Cleveland would cross $315,000 by August 2026.

That’s a big “if.” Seasonal patterns suggest the rate of gain typically slows into spring and summer. The most recent year showed a price decline from March through August before reversing. A similar pattern in 2026 would mean current momentum stalls in the next 60-90 days.

The longer-term setup looks supportive. Population growth is accelerating, not decelerating. Prices are still well below Chattanooga and Knoxville. The 6-month rebound erased a 6-month decline, suggesting underlying demand absorbs price weakness.

Expect modest gains through summer 2026, with the strongest moves likely in fall and winter if the 2025 pattern repeats.

Similar Markets in TN

Cleveland buyers comparing across Tennessee have plenty of options at different price points.

• Chattanooga — The closest big-city market, 30 minutes south, with more inventory and stronger job density.
• Knoxville — A larger metro with a similar small-town feel and a growing tech sector.
• Nashville — A different price tier entirely, but useful for understanding the upper end of Tennessee housing.
• Franklin — Closest to a luxury benchmark in the state for buyers comparing premium markets.
• Murfreesboro — One of Tennessee’s fastest growers, useful as a contrast to Cleveland’s slower-but-steady pace.

Frequently Asked Questions

What is the average home price in Cleveland?

The average home price in Cleveland, TN is $308,293 as of February 2026. That number reflects the typical home in the middle of the market, not the cheapest or the most expensive.

Are home prices going up or down in Cleveland?

Prices are up 0.7% year over year. The market hit a recent low of $302,855 in August 2025 and has gained ground every month since.

Is it cheaper to rent or buy in Cleveland?

Renting is cheaper month-to-month in every ZIP. Median rent in 37311 is $1,349 while owning the same area’s median home costs roughly $1,850 per month after taxes and insurance — a $500 monthly premium to own.

What is the most affordable neighborhood in Cleveland?

ZIP 37311 is the cheapest neighborhood at $247,609. That’s about 20% below the city average and the only ZIP in Cleveland with a median under $250K.

Methodology

Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.