Broken Bow appreciation rates and housing market information
Broken Bow housing market information
With a population of 4,148, 1,599 total housing units (homes and apartments), and a median house value of $72,701, house prices in Broken Bow are solidly below the national average.
Single-family detached homes are the single most common housing type in Broken Bow, accounting for 77.54% of the city's housing units. Other types of housing that are prevalent in Broken Bow include duplexes, homes converted to apartments or other small apartment buildings (14.26%), large apartment complexes or high rise apartments (5.89%), and a few row houses and other attached homes (1.63%).
The most prevalent building size and type in Broken Bow are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 38.74% owning and 61.26% renting.
There is a lot of housing in Broken Bow 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 Broken Bow built between 1940-1969 (24.99%). A lesser amount of the housing stock also hails from between 2000 and later (6.37%). There's also some housing in Broken Bow built before 1939 (6.21%).
Vacant housing appears to be an issue in Broken Bow. Fully 13.31% of the housing stock is classified as vacant. Left unchecked, vacant Broken Bow homes and apartments can be a drag on the real estate market, holding Broken Bow 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.
Broken Bow home appreciation rates
Real estate appreciation rates in Broken Bow's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.79% during the period.
Over the last year, Broken Bow appreciation rates have trailed the rest of the nation. In the last twelve months, Broken Bow's appreciation rate has been -0.68%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Broken Bow were at -0.32%, which equates to an annual appreciation rate of -1.29%.
Relative to Oklahoma, our data show that Broken Bow's latest annual appreciation rate is lower than 80% of the other cities and towns in Oklahoma.