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Dec 10, 2019

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Why renting is up and homeownership is down in "affordable" Cleveland

Adrian Ma Jan 3, 2019
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A view of downtown Cleveland, Ohio.
Jeff Swensen/Getty Images

In the years after the housing bubble burst, rentals became more common in almost every major U.S. city, according to a recent study by Marketplace and APM Research Labs. That increase includes cities like St. Louis; Charlotte, North Carolina; and Saint Paul, Minnesota, that have long been thought of as affordable places to buy a home. We look at what drove the rise of renting in one such city — Cleveland — and what decline in homeownership says about its economy.