Housing Report for Cleveland-Elyria-Mentor

There seems to be a fair amount of real estate that is affordable in Cleveland-Elyria-Mentor, Ohio. In 2005, 36.4 percent of residential real estate was valued under $125,000.

In Cleveland-Elyria-Mentor, there were a total of 936,861 homes in the year 2005. This MSA has gone through a medium level of growth in the number housing units, adding in all 19,591 homes since 2001, or 2.1 percent.

Cleveland-Elyria-Mentor may be described as having a medium percentage of homes that are high in price. For 2005, the American Community Survey counted that 2.9 percent of the houses were valued over a half a million dollars.

Cleveland-Elyria-Mentor had a median home value in the year 2005 of $146,700, published by the American Community Survey. This is greater than the Ohio 2005 home value of $129,600 and less than median home value of $167,500 across the nation during that year.

Looking across the State of Ohio, Cleveland-Elyria-Mentor places 9 of the 12 metro areas by percent in growth of new residential structures. The metropolitan area places 309 of 361, comparing the percentage change in residential real estate in other US MSAs.



Data Source: U.S. Census Bureau

Employment Report for Cleveland, Ohio -- Annual 2005 Industry Summary

An industry with high wages in Cleveland is the management of companies and enterprises industry with an average annual wage of $77,729. Locally, since the year 2001, the annual average wages in the industry have grown by 31.3 percent or $18,520. The State of Ohio reflects the same job market in the management of companies and enterprises sector, placing at the top of sectors according to average 2004 industry pay.

In Cleveland, Educational services, Management of companies and enterprises and Manufacturing have the highest US LQ in 2005. The Educational services sector in the county has a location quotient of 1.39. This means the percent of total employment in the Educational services sector is 1.39 times more than the average percent in the United States, revealing signs that Cleveland produces more than its local requirement of products and/or services of Educational services.

Management of companies and enterprises has the largest employers in Cleveland Metropolitan Area (MSA), averaging 69 workers per each place of employment, being greater than the industry's average at the national level of 40 and less than the Ohio typical size of 71 for the Management of companies and enterprises industry.

Manufacturing since the year 2001 was faced with the largest loss in employment in the Cleveland MSA. The sector faced a loss of 31,212 total jobs during the period, accounting for 17.3 percent of jobs in the industry. The losses in this industry made up 56.1 percent of the total loss in employment during the period.

Educational services from 2001-2005 had the highest increase in employment in Cleveland, increasing by 22.5 percent. This is greater than the United States industry change in employment of 13.8 percent. The State of Ohio saw a change in employment in the sector of 16.7 percent, in the course of time since 2001.

In Cleveland, Manufacturing, Health care and social assistance, and the Retail Trade industries are the largest employment industries. The Manufacturing is the largest employment industry and makes up 16.4 percent of the total MSA employment. This totals 148,827 people employed. The Health care and social assistance and Retail Trade sectors provide 15.4 and 12.1 percent of all employment.

The Cleveland-Elyria-Mentor Metropolitan Area ranks 22 of 363 throughout the US in terms the size of total employment in 2005. This ranking has slipped behind from the year 2001, at which time the Metropolitan Area was ranked 21 of 363 Counties.



Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).