The median home sale price in Clearwater is approximately $130,000 and has been increasingly steadily in the past few years. Thanks to the many sprawling beaches, the real estate of this city has received quite a boost. Having said as much, the number of home sale transactions underwent a sharp decline last year. As a consequence, apartment vacancy rates surged to almost 20%, among the highest in the country. Of the occupied homes, close to 50% are owned and 30 % rented. Clearly, there has been a shift away from buying towards renting, or towards rent to own houses.
Clearwater, FL is a great place for affordable rent-to-own homes! With a median household income of over $50,335 and a median rent of $1,167, the Clearwater, FL rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Clearwater, FL. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
Clearwater, FL is seeing rapid growth and Clearwater, FL's' housing market remains not optimal with an average home price that is 4% above the 2022 national average. Clearwater, FL is part of Pinellas county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2022 for county Pinellas is 0.91% which is below the national average, which is 0.99%.
Clearwater, FL has a walk score of
Clearwater, FL has a bike score of
The state tax rate is 0% on top of the federal tax rate of 10 to 37%.