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 1,253 people, 475 houses or apartments, and a median cost of homes of $173,314, 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 70.84% of the town's housing units. Other types of housing that are prevalent in Cleveland include mobile homes or trailers ( 22.06%), duplexes, homes converted to apartments or other small apartment buildings ( 6.36%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cleveland. Owner-occupied housing accounts for 82.00% of Cleveland's homes, and 85.23% have either three or four bedrooms, which is average sized relative to America.
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 2000 and later ( 23.55%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.77%). There's also some housing in Cleveland built before 1939 ( 1.87%).
Vacant housing appears to be an issue in Cleveland. Fully 11.22% 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.
Real estate appreciation rates in Cleveland's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.84% during the period.
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 4.54%, 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 2.58%, which equates to an annual appreciation rate of 10.72%.
Relative to Alabama, our data show that Cleveland's latest annual appreciation rate is higher than 60% of the other cities and towns in Alabama.
$173,314
for Alabama
for nation
475
$1,652 / per month