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Zip Code 67026: Clearwater, Kansas - Rising Home Values and Strong Ownership Trends
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
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Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Clearwater, located in zip code 67026 in Kansas, has experienced interesting trends in homeownership and housing prices over the past decade. This small city has shown a generally stable homeownership rate with slight fluctuations in average home prices and rent costs.
The homeownership rate in Clearwater has remained relatively steady, hovering around 85-87% between 2013 and 2022. During this period, average home prices have shown a consistent upward trend. In 2013, the average home price was $150,063, which increased to $246,100 by 2022, representing a significant 64% growth over nine years. This rise in home values did not seem to significantly impact the homeownership rate, suggesting a strong local preference for owning rather than renting.
Federal interest rates have played a role in the housing market of Clearwater. From 2013 to 2016, interest rates remained very low, below 0.5%, coinciding with a slight increase in homeownership from 85% to 86%. As interest rates began to rise more significantly from 2017 onwards, reaching 1.68% in 2022, the homeownership rate remained stable at around 85-86%, indicating a resilient local housing market.
The rental market in Clearwater has shown some fluctuations. The percentage of renters decreased slightly from 15% in 2013 to 13% in 2017, before rising back to 15% in 2022. Average rent prices have generally increased over this period, starting at $767 in 2013 and reaching $957 in 2022, a 24.8% increase. This rise in rent prices, coupled with the city's population growth from 5,710 in 2013 to 6,316 in 2022, suggests a growing demand for rental properties despite the strong preference for homeownership.
In 2023 and 2024, the housing market in Clearwater continued its upward trajectory. The average home price reached $256,936 in 2023 and further increased to $261,602 in 2024. This represents a 6.3% increase from 2022 to 2024. Notably, federal interest rates also saw a significant rise, reaching 5.02% in 2023 and 5.33% in 2024, which could potentially impact future homeownership rates and housing affordability.
Looking ahead, based on the historical trends and recent data, we can forecast continued growth in both home prices and rent costs for Clearwater over the next five years. Average home prices are projected to maintain their upward trajectory, potentially reaching around $300,000 by 2029. Rent prices are also expected to increase, possibly surpassing $1,200 per month on average. However, the rate of increase may moderate compared to the sharp rises seen in recent years, especially if interest rates remain elevated.
In summary, Clearwater (zip code 67026) has demonstrated a robust housing market characterized by high homeownership rates and steadily increasing property values. Despite rising home prices and rent costs, the community has maintained a strong preference for homeownership. The interplay between federal interest rates, population growth, and housing demand will continue to shape the local real estate landscape in the coming years.
