Coming from a root as working man’s town, Cleveland has come a long way to prove that it deserves attentions and affections. Along its efforts to give what modern civilization wants, Cleveland did at least three amazing jobs. The first one was to control pollution; Cuyahoga River used to be badly polluted that it caught fire. It took a lot of works to do that, but it has been paid off because it is now one of 14 American Heritage Rivers. The second step was to introduce quality attractions. One of them is the widely known Rock and Roll Hall of Fame. Step three was to clean up public spaces and add more hotels and restaurants.
There are many good reasons why moving to Cleveland is a great idea. The city has what it takes to provide comfortable living and excellent education for every family. Apart from the aforementioned factors, Cleveland has many more to offer. First thing first, the price for housing is more affordable than some major cities in the country. The housing cost in Cleveland is 249% less than in NYC, 226% less than in Washington DC, and 66% more affordable compared to Chicago. When it comes to transportation, the average commute time to work is only less than 25 minutes.
Cleveland provides affordable housing, but more than that it is the city of professionals. With more than 70 professional organizations in Greater Cleveland, everyone has a chance to learn about any business niche. Some of the most recognizable organizations are DCA (Downtown Cleveland Alliance) City Advocates, YNPN (Young Nonprofit Professional Network of Cleveland, and GOAL (Cleveland Clinic’s Group of Aspiring Leaders). There is also Global Cleveland, a nonprofit organizations focusing on regional economic development by attracting newcomers (either native or foreign born individuals) to connect both socially and economically throughout Greater Cleveland area.
The city is not only a place to thrive for young professionals, but also for the experienced. Cleveland has an average of 50,000 job openings in many different fields of business including but not limited to Advanced Manufacturing, Biotechnology, and IT. In 2014, the median household income reached $49,889. To help everyone gets along in the professional world, Cleveland gas 28 institutions of Higher Education. Forbes even mentioned that the number of educated workforce in Cleveland has been skyrocketing since 2000.
Entertainment and cultures are well praised too. The Rock and Roll Hall of Fame is a prime example. The Cleveland Orchestra is among top five on the world, and the Cleveland Museum of Art has more than 900 exhibits including modern day abstracts to arts from ancient civilizations.
From an investor standpoint:
1) It has a diverse industry: Cleveland Clinic and all the research made by local universities, aluminum, steel, international airport, port, agriculture, auto parts, NASA facility next to airport, etc.
2) It´s becoming a regional tech-hub (attractive city for start-ups)
3) High demand for rentals, especially in the niche we are in (lower to middle class)
4) Not too big, not small. With its over 2.5 million inhabitants the chances to get a tenant are high without the hassle, and the traffic, of monster cities like NYC, LA, Chicago, Dallas or Houston.
5) Low prices of Real Estate
6) Shorter eviction process