Philadelphia - PA vs Cleveland - OH: 2026 Housing Comparison

What this means for buyers

Philadelphia - PA is roughly 54% more expensive than Cleveland - OH in typical home value.

Philadelphia vs Cleveland: what the numbers say

At today's 7.40% average 30-year rate with 20% down, the typical home would cost about $2,138 a month in principal and interest in Philadelphia and $1,385 in Cleveland, a gap of $754 a month.

Typical rent runs $1,903 in Philadelphia and $1,440 in Cleveland, so the mortgage payment alone is 1.1 times rent in Philadelphia and 1.0 times rent in Cleveland, before taxes and insurance.

Home prices are 16.9 years of rent in Philadelphia and 14.5 in Cleveland; the lower ratio in Cleveland means buying there is cheaper relative to renting.

Over the last 23 months typical values moved +5.4% in Philadelphia and +8.4% in Cleveland; over just the last three months the change was +0.7% in Philadelphia and +1.0% in Cleveland.

Homes sell for 100.1% of list price in Philadelphia and 100.1% in Cleveland, after 15 and 13 days on the market, with price cuts on 26% and 26% of listings. All three signs point the same way: buyers have more room to negotiate in Philadelphia.

The number of homes for sale is up 9% on a year ago in Philadelphia and up 16% on a year ago in Cleveland.

Payments assume a 30-year fixed loan at the Freddie Mac weekly average rate (2026-10-15), 20% down, principal and interest only. Home values, rents and market figures are Zillow Research metro data.