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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 46,044 people, 19,522 houses or apartments, and a median cost of homes of $416,993, Oro Valley house prices are not only among the most expensive in Arizona, Oro Valley 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 Oro Valley, accounting for 73.53% of the town's housing units. Other types of housing that are prevalent in Oro Valley include large apartment complexes or high rise apartments ( 15.65%), row houses and other attached homes ( 6.95%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.52%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Oro Valley. Owner-occupied housing accounts for 75.25% of Oro Valley's homes, and 58.33% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Oro Valley 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 Oro Valley built between 2000 and later ( 30.71%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.09%).
Vacant housing appears to be an issue in Oro Valley. Fully 12.64% of the housing stock is classified as vacant. Left unchecked, vacant Oro Valley homes and apartments can be a drag on the real estate market, holding Oro Valley 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.
Appreciation rates for homes in Oro Valley have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 52.61%, which ranks in the top 40% nationwide. This equates to an annual average Oro Valley house appreciation rate of 4.32%.
Appreciation rates are so strong in Oro Valley that despite a nationwide downturn in the housing market, Oro Valley real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Oro Valley appreciation rates continue to be some of the highest in America, at 10.96%, which is higher than appreciation rates in 75.98% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Oro Valley. Oro Valley appreciation rates in the latest quarter were at 5.23%, which equates to an annual appreciation rate of 22.60%.
Importantly, NeighborhoodScout’s exclusive research found that Oro Valley's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to Arizona, our data show that Oro Valley's latest annual appreciation rate is lower than 90% of the other cities and towns in Arizona.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Oro Valley differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Oro Valley - 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 2000, to assist you in making the best Oro Valley real estate investment or home purchase decisions.
Very High for Nation
Very High for AZ