Waterloo Arts District Eviction Risk: Elevated

28.1% of adults report being unable to pay a utility bill, against a 9.2% national figure. Utility arrears usually lead rent arrears by a month or two. Severe burden reaches 34%. A tenant at that level absorbs no shock: one cut shift or one repair bill converts directly into arrears. CDC survey data puts housing insecurity at 32.3% of adults, against 14.2% nationally.

The poverty rate is 31%, which shows up in this model as reduced rent-recovery odds after a judgment. This is a renter market: 69% of occupied units are tenant-occupied. Pulling the other way is rent-regulation exposure, at 2/10.

Well under the midpoint is supply constraint, at 2.1/10. Scores across the 2 constituent tracts range from 4.6 to 6. A 1.4-point internal spread means block-level underwriting beats area-level here.

On the high side is economic stress at 7.7/10. At $859 a month, rents sit 9% under what the rest of Cleveland commands. That places it #2 of 57 neighborhoods in Cleveland.

For a like-for-like read, Belvoir Village and Kinsman score within a fraction of it. Annual rent works out to 27% of average household income of $38,508.

Underwrite the address, not the area: with 1.4 points between its best and worst tract, the per-tract table below is the operative number. The number is rebuilt whenever its ACS, court-record, or statutory inputs change.