Clear Lake, IA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Clear Lake, IA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Clear Lake Housing Market Information

With a population of 7,590, 3,272 total housing units (homes and apartments), and a median house value of $212,045, Clear Lake real estate is some of the most expensive in Iowa, although Clear Lake home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Clear Lake, accounting for 74.08% of the city's housing units. Other types of housing that are prevalent in Clear Lake include large apartment complexes or high rise apartments ( 16.29%), mobile homes or trailers ( 4.11%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.91%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Clear Lake. Owner-occupied housing accounts for 73.83% of Clear Lake's homes, and 51.20% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Clear Lake built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Clear Lake built between 1940-1969 ( 30.12%). A lesser amount of the housing stock also hails from before 1939 ( 24.65%). There's also some housing in Clear Lake built between 2000 and later ( 10.75%).

Vacant housing appears to be an issue in Clear Lake. Fully 20.45% of the housing stock is classified as vacant. Left unchecked, vacant Clear Lake homes and apartments can be a drag on the real estate market, holding Clear Lake real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Clear Lake Home Appreciation Rates

In the last 10 years, Clear Lake has experienced some of the highest home appreciation rates of any community in the nation. Clear Lake real estate appreciated 19.09% over the last ten years, which is an average annual home appreciation rate of 1.76%, putting Clear Lake in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Clear Lake definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Clear Lake's appreciation rate, at 5.13%, has been at or slightly above the national average. In the latest quarter, Clear Lake's appreciation rate has been 0.99%, which annualizes to a rate of 4.00%.

Relative to Iowa, our data show that Clear Lake's latest annual appreciation rate is higher than 80% of the other cities and towns in Iowa.

Average Home Values

 

Median Home Value:
$212,045

Clear Lake, IA HOME PRICES

Value Range
> $1,129,000 1.4
$847,001 - $1,129,000 0.2
$565,001 - $847,000 2.2
$452,001 - $565,000 3.5
$339,001 - $452,000 6.8
$226,001 - $339,000 20.0
$113,001 - $226,000 38.1
$56,001 - $113,000 22.2
$0 - $56,000 5.7

Very High for IA
High for Nation

Value Relative to Nation Value Relative to State
29.4152115317005 8.14814814814815

Number Of Homes And Apartments:
3,272

Clear Lake Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
53.49% 2.52% 7 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$883 / per month

Homeownership Rate

Homeownership
Owners 73.83
Renters 26.17
Vacant 20.45

Housing Market Details

 

Age of Homes

AGE OF Clear Lake HOMES
2000 or Newer 10.7
1970 - 1999 34.5
1940 - 1969 30.1
1939 or Older 24.7

Types of Homes

TYPE OF Clear Lake HOMES
Single-Family 74.1
Townhomes 1.6
Small Apt. Buildings 3.9
Apt. Complexes 16.3
Mobile Homes 4.1
Other 0.0

Home Size

SIZE OF Clear Lake HOMES
No Bedroom 1.05
1 Bedroom 10.60
2 Bedrooms 33.26
3 Bedrooms 35.18
4 Bedrooms 16.02
5 or more bedrooms 3.89

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Zip Codes in Clear Lake, IA