Oro Valley, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Oro Valley, AZ Real Estate Data


Oro Valley Housing Market Information

With 43,565 people, 17,364 houses or apartments, and a median cost of homes of $343,273, 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 74.65% of the town's housing units. Other types of housing that are prevalent in Oro Valley include large apartment complexes or high rise apartments ( 13.43%), row houses and other attached homes ( 7.73%), and a few mobile homes or trailers ( 2.11%).

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 74.68% of Oro Valley's homes, and 58.05% 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 ( 27.32%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.64%).

Vacant housing appears to be an issue in Oro Valley. Fully 13.07% 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.

Oro Valley Home Appreciation Rates

Homes have actually lost value in Oro Valley over the last then years, as home values have seen a decline of 19.92% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Oro Valley home appreciation rates at 2.33%, which equates to an annual appreciation rate of 9.63%.

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 8.63%, which is higher than appreciation rates in 94.38% 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 2.33%, which equates to an annual appreciation rate of 9.63%.

Relative to Arizona, our data show that Oro Valley's latest annual appreciation rate is higher than 80% 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.

Average Home Values

 

Median Home Value:
$343,273

Oro Valley, AZ HOME PRICES

Value Range
> $1,152,000 2.0
$864,001 - $1,152,000 3.6
$576,001 - $864,000 7.0
$461,001 - $576,000 8.0
$346,001 - $461,000 21.8
$230,001 - $346,000 35.7
$115,001 - $230,000 17.5
$58,001 - $115,000 1.5
$0 - $58,000 2.8

Very High for AZ
Very High for Nation

Value Relative to Nation Value Relative to State
13.0350764185747 7.38255033557047

Number Of Homes And Apartments:
17,364

Rent & Ownership

 

Average Market Rent:
$1,573 / per month

Homeownership Rate

Homeownership
Owners 74.68
Renters 25.32
Vacant 13.07

Housing Market Details

 

Age of Homes

AGE OF Oro Valley HOMES
2000 or Newer 27.3
1970 - 1999 68.6
1940 - 1969 3.6
1939 or Older 0.4

Types of Homes

TYPE OF Oro Valley HOMES
Single-Family 74.6
Townhomes 7.7
Small Apt. Buildings 2.1
Apt. Complexes 13.4
Mobile Homes 2.1
Other 0.0

Home Size

SIZE OF Oro Valley HOMES
No Bedroom 0.27
1 Bedroom 5.75
2 Bedrooms 30.85
3 Bedrooms 32.93
4 Bedrooms 25.12
5 or more bedrooms 5.08

Oro Valley Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AZ*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
44.79% 2.20% 5 5
* 10 is highest