Asiatown, alternatively spelled AsiaTown, is one of Cleveland’s most historic residential areas.
Formerly referred to as Chinatown, Asiatown has a long history that stretches back to the 1860s. This neighborhood is home to many Chinese Americans, but many other ethnic backgrounds from Asia are also present here.
This neighborhood was renamed in 2006 to more inclusively represent the neighborhood’s inhabitants, seeing as this Cleveland neighborhood is home to around 1,200 residents from a variety of walks of life.
Located between Downtown Cleveland and the neighborhood of Goodrich-Kirtland Park, Asiatown’s location can be seen as being considerably favorable, namely when it comes to commuting between central and eastern parts of Cleveland.
In addition to having a particularly diverse population, Asiatown is also known for having a great nightlife scene. Of course, this neighborhood has a strong emphasis on culture, which can be seen through Asiatown’s popular events, annual festivals, local art and theater scene, and many restaurants throughout the neighborhood.
Home to around 1,200 people, 54% of residents are male and 46% are female.
An estimated 33% of Asiatown residents are of Asian descent, and another 26% of the neighborhood’s population is African American. 21% of the population identifies as White, and 15% of residents are Hispanic or Latino. The remaining 5% of residents are of other ethnic backgrounds.
22% of residents hold an associate’s degree or have some level of college education, while 15% of residents hold a bachelor’s degree. Another 16% of residents have a master’s degree or above.
The estimated median household income of this neighborhood is $21K, and 61% of residents earn under $25K annually.
TOP Asiatown HIGHLIGHTS
Asiatown’s associated earthquake index is 3.17. This number tracks considerably higher than Ohio’s index of 0.16 and the U.S. index of 1.81. Seeing as the surrounding area has a high probability of earthquake activity, residents would be wise to look out for occasional tremors.
The local tornado index also indicates Asiatown is at risk for tornado activity and high winds. As is common for this part of Ohio, thunderstorms and windstorms are seasonal occurrences that are known to cause significant amounts of property damage.
For reference, January brings with it the highest risk of critical winter storms like blizzards, serious snowfall, and ice storms taking place.
Over 20% of residents in this part of Cleveland report an estimated daily travel time of 25 minutes, and about 60% of other residents have travel times of 20 minutes or less.
Immediately accessible local roadways include E. 22nd Street and Rockwell Avenue, in addition to Payne Avenue. Interstate 90 conveniently runs north and west of Asiatown, and Euclid Avenue can be accessed a short distance south of the neighborhood. Interstate 77 and Interstate 490 are also farther south of the neighborhood.
It takes about 5 minutes to reach Downtown Cleveland by car from Asiatown, and Burke Lakefront Airport is about a 10 minute commute northwest of the neighborhood.
At 4,807.43, Asiatown’s estimated crime index has a higher crime index than both Ohio’s average and the U.S. average.
Asiatown’s crime rates stack as about average compared to all Cleveland neighborhoods. The violent crime rate per 1,000 residents is estimated at 14.56, and the property crime rate per 1,000 is about 44.32.
The odds of being targeted of a violent crime in Asiatown are 1 in 70, and the likelihood of experiencing a property crime are 1 in 23.
The hate crime index is 21.78, which is lower than both Ohio’s index of 32 and the U.S. index of 23.78.
SCHOOLS IN Asiatown
Because Asiatown students live in an eastern part of Cleveland, students in this neighborhood are served by the Cleveland Metropolitan School District, or Cleveland MSD. Formerly titled the Cleveland Municipal School District, this school district is considered one of the largest in the state, seeing as it spans 80 square miles.
As Niche.com reports, campuses in this school district are especially praised for their athletic programming, and many local campuses have AP programming, a focus on college preparatory programs, and notably highly rated athletic extracurricular activities. Although Cleveland MSD has had a turbulent past, this district is taking continued steps to further encourage its campuses to improve their student academic achievement levels.
Considering that this district has around 110 campuses that altogether educate an estimated 40,000 students across Cleveland’s residential areas, Asiatown students are within short driving distance of multiple Cleveland MSD campuses.
Additionally, Asiatown students have the option to attend nearby private schools and well-rated religious campuses.
Asiatown Housing 2020
One factor that influences Asiatown’s real estate market is that the vast majority of properties in Asiatown are rented properties. Asiatown properties can be expected to sell after about 40 days on the market.
Specifically to this Cleveland neighborhood, a reported 670 properties are worth under $50K. Another 380 pieces of Asiatown real estate range between $50K-$100K. From there, an estimated 45 properties are worth between $100K-$150K, and almost 90 other properties range greatly between $250K-$300k.
More expensive properties can also be found, seeing as about 50 pieces of real estate in the neighborhood range between $300K-$400K, and about 75 other properties are priced widely between $750K-$1 million.
Between January 2016 and January 2019, the median home value in Cleveland showed little fluctuation, which indicates that Cleveland has a stable real estate market. This means Asiatown real estate can be considered to be a less risky investment than real estate in other U.S. neighborhoods.
Asiatown Homes for Sale
97% of properties in this part of Cleveland are rented residences, so just 3% of Asiatown’s housing options are owner-occupied properties. The vacancy rate in Asiatown varies a good deal and generally tracks high, specifically around 20%.
The bulk of housing options in this Cleveland neighborhood is made up of 1-2 bedroom apartments, and the second most common type of residence in Asiatown is 3-4 bedroom apartments, which is especially notable considering that this area has a small number of detached family homes, a trend that is uncommon among other Cleveland neighborhoods.
Many housing options in Asiatown were constructed after 1939 and through 1969, with properties built between 1970-1999 coming in second in terms of being the most prevalent. Little to no properties in the neighborhood have been built after the turn of the 21st century.
In terms of price ranges, properties in this area of Cleveland generally fall below national averages, and rent trends fluctuate a good deal year-over-year.