McGehee, AR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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McGehee, AR Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

McGehee Housing Market Information

With 3,919 people, 1,650 houses or apartments, and a median cost of homes of $77,639, house prices in McGehee are solidly below the national average.

Single-family detached homes are the single most common housing type in McGehee, accounting for 75.89% of the city's housing units. Other types of housing that are prevalent in McGehee include duplexes, homes converted to apartments or other small apartment buildings ( 11.12%), large apartment complexes or high rise apartments ( 7.77%), and a few mobile homes or trailers ( 4.62%).

The most prevalent building size and type in McGehee are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.66% owning and 47.34% renting.

There is a lot of housing in McGehee 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 McGehee built between 1940-1969 ( 32.69%). A lesser amount of the housing stock also hails from before 1939 ( 10.30%). There's also some housing in McGehee built between 2000 and later ( 4.77%).

Vacant housing appears to be an issue in McGehee. Fully 16.24% of the housing stock is classified as vacant. Left unchecked, vacant McGehee homes and apartments can be a drag on the real estate market, holding McGehee 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.

McGehee Home Appreciation Rates

In the last 10 years, McGehee has experienced some of the highest home appreciation rates of any community in the nation. McGehee real estate appreciated 19.03% over the last ten years, which is an average annual home appreciation rate of 1.76%, putting McGehee in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, McGehee definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, McGehee's appreciation rate, at 3.51%, has been at or slightly above the national average. In the latest quarter, McGehee's appreciation rate has been -1.14%, which annualizes to a rate of -4.49%.

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

Relative to Arkansas, our data show that McGehee's latest annual appreciation rate is higher than 60% of the other cities and towns in Arkansas.

Average Home Values

 

Median Home Value:
$77,639

McGehee, AR HOME PRICES

Value Range
> $1,077,000 0.0
$807,001 - $1,077,000 0.0
$538,001 - $807,000 0.0
$431,001 - $538,000 0.1
$323,001 - $431,000 0.8
$215,001 - $323,000 4.4
$108,001 - $215,000 15.5
$54,001 - $108,000 52.3
$0 - $54,000 27.0

Low for AR
Very Low for Nation

Value Relative to Nation Value Relative to State
91.8727294034923 69.7183098591549

Number Of Homes And Apartments:
1,650

McGehee Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AR*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
46.43% 2.24% 8 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$587 / per month

Homeownership Rate

Homeownership
Owners 52.66
Renters 47.34
Vacant 16.24

Housing Market Details

 

Age of Homes

AGE OF McGehee HOMES
2000 or Newer 4.8
1970 - 1999 52.2
1940 - 1969 32.7
1939 or Older 10.3

Types of Homes

TYPE OF McGehee HOMES
Single-Family 75.9
Townhomes 0.6
Small Apt. Buildings 11.1
Apt. Complexes 7.8
Mobile Homes 4.6
Other 0.0

Home Size

SIZE OF McGehee HOMES
No Bedroom 0.91
1 Bedroom 7.97
2 Bedrooms 25.08
3 Bedrooms 58.38
4 Bedrooms 6.55
5 or more bedrooms 1.12

Popular Neighborhoods in McGehee

Zip Codes in McGehee, AR