Cleveland, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Cleveland Neighborhoods Since 2000




Cleveland, TX Real Estate Data


Cleveland Housing Market Information

With 7,858 people, 2,508 houses or apartments, and a median cost of homes of $91,710, house prices in Cleveland are solidly below the national average.

Single-family detached homes are the single most common housing type in Cleveland, accounting for 56.10% of the city's housing units. Other types of housing that are prevalent in Cleveland include mobile homes or trailers ( 19.98%), large apartment complexes or high rise apartments ( 13.01%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.38%).

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 53.73% owning and 46.27% 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 ( 33.10%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.07%). There's also some housing in Cleveland built before 1939 ( 5.98%).

Vacant housing appears to be an issue in Cleveland. Fully 14.78% 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

In the last 10 years, Cleveland has experienced some of the highest home appreciation rates of any community in the nation. Cleveland real estate appreciated 48.55% over the last ten years, which is an average annual home appreciation rate of 4.04%, putting Cleveland in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Cleveland definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

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 2.67%, 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 1.83%, which equates to an annual appreciation rate of 7.53%.

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

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:
$91,710

Cleveland, TX HOME PRICES

Value Range
> $1,365,000 0.0
$1,024,001 - $1,365,000 0.2
$683,001 - $1,024,000 0.8
$546,001 - $683,000 0.1
$409,001 - $546,000 0.9
$273,001 - $409,000 3.9
$136,001 - $273,000 17.2
$68,001 - $136,000 47.6
$0 - $68,000 29.3

Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
84.2185395561281 74.5631067961165

Number Of Homes And Apartments:
2,508

Rent & Ownership

 

Average Market Rent:
$602 / per month

Homeownership Rate

Homeownership
Owners 53.73
Renters 46.27
Vacant 14.78

Housing Market Details

 

Age of Homes

AGE OF Cleveland HOMES
2000 or Newer 9.1
1970 - 1999 51.9
1940 - 1969 33.1
1939 or Older 6.0

Types of Homes

TYPE OF Cleveland HOMES
Single-Family 56.1
Townhomes 1.5
Small Apt. Buildings 9.4
Apt. Complexes 13.0
Mobile Homes 20.0
Other 0.0

Home Size

SIZE OF Cleveland HOMES
No Bedroom 2.92
1 Bedroom 12.64
2 Bedrooms 32.35
3 Bedrooms 42.20
4 Bedrooms 9.89
5 or more bedrooms 0.00

Cleveland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
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
92.19% 3.92% 8 10
* 10 is highest

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Zip Codes in Cleveland, TX