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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Clear Lake, MN Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Clear Lake, MN Housing Market Trends

With 663 people, 243 houses or apartments, and a median cost of homes of $457,662, Clear Lake real estate is some of the most expensive in Minnesota, 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 87.65% of the city's housing units. Other types of housing that are prevalent in Clear Lake include large apartment complexes or high rise apartments ( 6.17%), duplexes, homes converted to apartments or other small apartment buildings ( 4.12%), and a few row houses and other attached homes ( 2.06%).

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 86.01% of Clear Lake's homes, and 74.90% have either three or four bedrooms, which is average sized relative to America.

Clear Lake homes and real estate are some of the newest in America. 49.79% of Clear Lake's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Clear Lake real estate market has to offer. Quite a bit of the housing here was also built before 1939 ( 23.46%), and between 1940-1969 ( 13.99%). There's also some housing in Clear Lake built between 1970-1999 ( 12.76%).

Clear Lake Home Appreciation Rates

Appreciation rates for homes in Clear Lake have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 85.50%, which ranks in the top 50% nationwide. This equates to an annual average Clear Lake house appreciation rate of 6.37%.

Over the last year, Clear Lake appreciation rates have trailed the rest of the nation. In the last twelve months, Clear Lake's appreciation rate has been 1.95%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Clear Lake were at -2.13%, which equates to an annual appreciation rate of -8.26%.

Notably, Clear Lake's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Minnesota, our data show that Clear Lake's latest annual appreciation rate is lower than 90% of the other cities and towns in Minnesota.

Average Home Values

Median Home Value

$457,662

Clear Lake, MN Home Prices
> $1,297,000
$973,001 - $1,297,000
$648,001 - $973,000
$519,001 - $648,000
$389,001 - $519,000
$259,001 - $389,000
$130,001 - $259,000
$65,001 - $130,000
$0 - $65,000
0.9%
0.9%
2.0%
2.0%
18.0%
18.0%
16.1%
16.1%
23.4%
23.4%
27.4%
27.4%
10.4%
10.4%
0.5%
0.5%
1.2%
1.2%
0% 100.0%
% of Homes
Very High

for Minnesota

Very High

for nation

Number of Homes And Apartments:

243

Clear Lake Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,365 / per month

Homeownership Rate

Owners
Renters
86.0%
86.0%
14.0%
14.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
0.0%
0.0%
100.0%
100.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
49.8%
49.8%
12.8%
12.8%
14.0%
14.0%
23.5%
23.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
87.7%
87.7%
2.1%
2.1%
4.1%
4.1%
6.2%
6.2%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.5%
2.5%
4.5%
4.5%
11.9%
11.9%
33.3%
33.3%
41.6%
41.6%
6.2%
6.2%
0% 100.0%
% of Homes

Popular Neighborhoods in Clear Lake

Zip Codes in Clear Lake, MN