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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 3,293 people, 1,382 houses or apartments, and a median cost of homes of $213,972, house prices in Clare are solidly below the national average.
Single-family detached homes are the single most common housing type in Clare, accounting for 55.95% of the city's housing units. Other types of housing that are prevalent in Clare include large apartment complexes or high rise apartments ( 23.11%), duplexes, homes converted to apartments or other small apartment buildings ( 10.41%), and a few mobile homes or trailers ( 8.36%).
The most prevalent building size and type in Clare are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.19% owning and 41.81% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Clare's housing was primarily built during this period, from the '40s through the '60s. A full 34.82% of the city's housing hails from this era. Other housing ages represented in Clare include homes built between 1970-1999 ( 32.09%) and housing constructed before 1939 ( 21.81%). There's also some housing in Clare built between 2000 and later ( 11.28%).
Vacant housing appears to be an issue in Clare. Fully 14.37% of the housing stock is classified as vacant. Left unchecked, vacant Clare homes and apartments can be a drag on the real estate market, holding Clare 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.
Appreciation rates for homes in Clare have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 111.48%, which ranks in the top 30% nationwide. This equates to an annual average Clare house appreciation rate of 7.78%.
Appreciation rates are so strong in Clare that despite a nationwide downturn in the housing market, Clare real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Clare appreciation rates continue to be some of the highest in America, at 11.65%, which is higher than appreciation rates in 92.82% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Clare. Clare appreciation rates in the latest quarter were at 0.88%, which equates to an annual appreciation rate of 3.56%.
Relative to Michigan, our data show that Clare's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.
$213,972
for Michigan
for nation
1,382
$1,324 / per month