Oak Hill appreciation rates and housing market information

Oak Hill housing market information

With 4,437 people, 1,869 houses or apartments, and a median cost of homes of $476,163, Oak Hill house prices are not only among the most expensive in Tennessee, Oak Hill real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in Oak Hill, accounting for 94.27% of the city's housing units. Other types of housing that are prevalent in Oak Hill include duplexes, homes converted to apartments, or other small apartment buildings (3.10%), row houses and other attached homes (1.34%), large apartment complexes or high rise apartments (0.64%), and a few mobile homes or trailers (0.64%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Oak Hill. Owner-occupied housing accounts for 91.44% of Oak Hill's homes, and 78.23% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Oak Hill's housing was primarily built during this period, from the '40s through the '60s. A full 72.98% of the city's housing hails from this era. Other housing ages represented in Oak Hill include homes built between 1970-1994 (16.37%), and housing constructed from 1939 and earlier (6.85%). There's also some housing in Oak Hill built between 1995 and later (3.80%).

Oak Hill home appreciation rates

Real estate appreciation rates in Oak Hill have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.70% during the period.

NeighborhoodScout's data show that during the latest twelve months, Oak Hill home appreciation rates, at 1.51%, have been at or slightly above the national average. In the latest quarter, Oak Hill's appreciation rate has been -0.40%, which annualizes to a rate of -1.60%.

Notably, Oak Hill's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Tennessee, our data show that Oak Hill's latest annual appreciation rate is higher than 17% of the other cities and towns in Tennessee.