Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.
I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.
And while every neighbhorhood in Cleveland might be more expensive than living in rural Ohio, there are certain neighborhoods that are definitely cheaper.
So what exactly are those Cleveland neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?
Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Cleveland are the cheapest.
What’s the cheapest neighborhood to live in Cleveland for 2020? According to the most recent census data, Indurstrial Valley looks to be the cheaptest Cleveland neighborhood to live in.
At this point we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Cleveland. You could be sacrificing location or crime rates in return for more space and cheaper groceries.
Read on to see how we determined the places around Cleveland that deserve a little bragging rights or maybe you’re interested in the worst neighborhoods in Cleveland.
Once you’re done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.
For more Ohio reading, check out:
- Best Places To Live In Ohio
- Best Counties To Live In Ohio
- Cheapest Cities To Live In America
- Cheapest States To Live In America
How We Determined The Cheapest Cleveland Hoods In 2020
In order to rank the cheapest places to live in Cleveland, we had to determine what criteria defines “cheap”.
- Overall Cost Of Living
- Rent To Income Ratio
- Median Home Value To Income Ratio
We then ranked each neighborhood with scores from 1 to 36 in each category, where 1 was the cheapest.
Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.
And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the “Cheapest City Neighborhood In Cleveland.” We’re lookin’ at you, Indurstrial Valley.
Read on below to learn more about what it’s like to live in the cheapest places Cleveland. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.
The 10 Cheapest Neighborhoods To Live In Cleveland For 2020
The median income in Indurstrial Valley comes in at $24,205 and the median home value is $10,633 for 2020.
The median income in Woodland Hills comes in at $19,499 and the median home value is $29,836 for 2020.
The median income in Glenville comes in at $24,172 and the median home value is $48,456 for 2020.
The median income in Goodrich-Kirkland comes in at $27,387 and the median home value is $44,550 for 2020.
The median income in Riverside comes in at $49,125 and the median home value is $77,760 for 2020.
The median income in Stockyards comes in at $24,661 and the median home value is $37,389 for 2020.
The median income in North Broadway comes in at $22,007 and the median home value is $22,455 for 2020.
The median income in Fairfax comes in at $18,236 and the median home value is $32,467 for 2020.
The median income in Jefferson comes in at $35,382 and the median home value is $71,164 for 2020.
The median income in Puritas Longmead comes in at $33,765 and the median home value is $64,674 for 2020.
Summing Up The Cheapest Places In Cleveland
If you’re measuring the neighborhoods in Cleveland where prices are low and it’s cheap to live, this is an accurate list.
As we mentioned earlier, the neighborhoods in Cleveland aren’t all cheap. University District takes the title of the most expensive neighborhood to live in Cleveland.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
For more Ohio reading, check out:
- Cheapest Places To Live In Ohio
- Best Places To Raise A Family In Ohio
- Best Places To Retire In Ohio
- Richest Cities In Ohio
- Safest Places In Ohio
- Worst Places To Live In Ohio
Detailed List Of The Cheapest Neighborhoods To Live In Cleveland For 2020
|Rank||Neighborhood||Cost Of Living Index|
|13||Union Miles Park||84|
|33||Ohio City-West Side||95|