Oklahoma City appreciation rates and housing market information

Oklahoma City housing market information

With 505,963 people, 228,188 houses or apartments, and a median cost of homes of $135,228, Oklahoma City real estate is some of the most expensive in Oklahoma, although Oklahoma City home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Oklahoma City, accounting for 64.82% of the city's housing units. Other types of housing that are prevalent in Oklahoma City include large apartment complexes or high rise apartments (20.34%), duplexes, homes converted to apartments, or other small apartment buildings (6.86%), row houses and other attached homes (4.01%), and a few mobile homes or trailers (3.86%).

People in Oklahoma City primarily live in small (one, two, or no bedroom) single-family detached homes. Oklahoma City has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Oklahoma City built from 1970-1994, 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 Oklahoma City built from 1940-1969 (39.71%). A lesser amount of the housing stock also hails from 1939 and earlier (9.32%), and some were built from 1995 and later (9.32%).

Vacant housing appears to be an issue in Oklahoma City. Fully 10.38% of the housing stock is classified as vacant. Left unchecked, vacant Oklahoma City homes and apartments can be a drag on the real estate market, holding Oklahoma City 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.

Oklahoma City home appreciation rates

Oklahoma City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Oklahoma City during the period has been just 5.76%, which is lower than % of US communities.

NeighborhoodScout's data show that during the latest twelve months, Oklahoma City home appreciation rates, at 2.17%, have been at or slightly above the national average. In the latest quarter, Oklahoma City's appreciation rate has been 1.48%, which annualizes to a rate of 5.92%.

Relative to Oklahoma, our data show that Oklahoma City's latest annual appreciation rate is higher than 25% of the other cities and towns in Oklahoma.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Oklahoma City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Oklahoma City - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Oklahoma City real estate investment or home purchase decisions.