Cleveland, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Cleveland Neighborhoods Since 2000




Cleveland, TN Real Estate Data


Cleveland Housing Market Information

With 43,898 people, 15,671 houses or apartments, and a median cost of homes of $163,488, Cleveland real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Cleveland, accounting for 59.77% of the city's housing units. Other types of housing that are prevalent in Cleveland include duplexes, homes converted to apartments or other small apartment buildings ( 19.53%), large apartment complexes or high rise apartments ( 15.61%), and a few mobile homes or trailers ( 2.64%).

The most prevalent building size and type in Cleveland are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 45.88% owning and 54.12% renting.

There is a lot of housing in Cleveland 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 Cleveland built between 1940-1969 ( 24.72%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.28%). There's also some housing in Cleveland built before 1939 ( 7.89%).

Vacant housing appears to be an issue in Cleveland. Fully 11.82% of the housing stock is classified as vacant. Left unchecked, vacant Cleveland homes and apartments can be a drag on the real estate market, holding Cleveland 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.

Cleveland Home Appreciation Rates

Appreciation rates for homes in Cleveland have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.47%, which ranks in the top 50% nationwide. This equates to an annual average Cleveland house appreciation rate of 0.34%.

Over the last year, Cleveland appreciation rates have trailed the rest of the nation. In the last twelve months, Cleveland's appreciation rate has been 1.68%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cleveland were at 3.06%, which equates to an annual appreciation rate of 12.79%.

Importantly, this makes Cleveland one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Cleveland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cleveland - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Cleveland real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$163,488

Cleveland, TN HOME PRICES

Value Range
> $1,096,000 0.6
$822,001 - $1,096,000 0.6
$548,001 - $822,000 2.0
$438,001 - $548,000 1.9
$328,001 - $438,000 5.9
$219,001 - $328,000 15.3
$110,001 - $219,000 43.5
$55,001 - $110,000 20.2
$0 - $55,000 10.0

High for TN
Average for Nation

Value Relative to Nation Value Relative to State
45.4529484101423 24.4897959183673

Number Of Homes And Apartments:
15,671

Rent & Ownership

 

Average Market Rent:
$858 / per month

Homeownership Rate

Homeownership
Owners 45.88
Renters 54.12
Vacant 11.82

Housing Market Details

 

Age of Homes

AGE OF Cleveland HOMES
2000 or Newer 16.3
1970 - 1999 51.1
1940 - 1969 24.7
1939 or Older 7.9

Types of Homes

TYPE OF Cleveland HOMES
Single-Family 59.8
Townhomes 2.4
Small Apt. Buildings 19.5
Apt. Complexes 15.6
Mobile Homes 2.6
Other 0.0

Home Size

SIZE OF Cleveland HOMES
No Bedroom 3.49
1 Bedroom 8.93
2 Bedrooms 35.23
3 Bedrooms 36.96
4 Bedrooms 12.08
5 or more bedrooms 3.31

Cleveland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
32.58% 1.67% 4 3
* 10 is highest