Loading Content...
Clyde, NC: Home Values Double as Ownership Remains Steady
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
Loading Content...
Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Clyde, a charming town in North Carolina, has experienced notable shifts in its housing market over the past decade. This analysis explores the trends in homeownership, average home prices, and average rent prices, providing insights into the evolving real estate landscape of this small but growing community. Homeownership in Clyde has remained relatively stable, fluctuating between 68% and 73% from 2013 to 2022. Meanwhile, average home prices have shown a consistent upward trend, rising from $159,965 in 2013 to $323,042 in 2022, representing a substantial increase of 102% over this period. The relationship between federal interest rates and homeownership rates in Clyde reveals some interesting patterns. Despite historically low interest rates from 2013 to 2016 (ranging from 0.09% to 0.40%), homeownership rates remained relatively stable. However, as interest rates began to rise from 2017 to 2019 (1.00% to 2.16%), homeownership rates slightly decreased from 72% to 68%. This suggests that while low interest rates generally support homeownership, other local factors may have influenced Clyde's housing market dynamics.
Renter percentages in Clyde have shown slight fluctuations, ranging from 27% to 32% between 2013 and 2022. Average rent prices have generally increased over this period, rising from $719 in 2013 to $782 in 2022, a 9% increase. Notably, there was a peak in average rent prices in 2018 at $901, followed by a decline to $697 in 2021, before rising again in 2022. These fluctuations in rent prices may be influenced by changes in population, which grew from 3,649 in 2013 to 4,686 in 2022, potentially impacting housing demand.
Looking at the most recent data, average home prices in Clyde continued to rise, reaching $329,727 in 2023 and $344,185 in 2024. This represents a 6.5% increase from 2022 to 2024. Concurrently, federal interest rates have significantly increased, rising to 5.02% in 2023 and 5.33% in 2024, which may impact future homeownership trends and housing affordability in the area.
Applying predictive models to forecast 5-year trends, average home prices in Clyde are expected to continue their upward trajectory, potentially reaching around $400,000 by 2029. Average rent prices are also projected to increase, possibly surpassing $900 per month within the next five years, assuming current economic conditions and population growth trends persist.
In summary, Clyde's housing market has demonstrated resilience and growth over the past decade. The town has maintained a stable homeownership rate despite rising home prices and fluctuating interest rates. The consistent increase in average home prices, coupled with moderate rent price growth, suggests a strong demand for housing in this North Carolina community. As Clyde continues to grow, these trends are likely to shape its housing landscape in the coming years, potentially presenting both opportunities and challenges for residents and potential homebuyers.
