Okeechobee, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Okeechobee Neighborhoods Since 2000




Okeechobee, FL Real Estate Data


Okeechobee Housing Market Information

With 5,608 people, 1,720 houses or apartments, and a median cost of homes of $124,368, house prices in Okeechobee are solidly below the national average.

Single-family detached homes are the single most common housing type in Okeechobee, accounting for 67.74% of the city's housing units. Other types of housing that are prevalent in Okeechobee include mobile homes or trailers ( 12.82%), duplexes, homes converted to apartments or other small apartment buildings ( 9.89%), and a few large apartment complexes or high rise apartments ( 8.00%).

The most prevalent building size and type in Okeechobee are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.93% owning and 44.07% renting.

There is a lot of housing in Okeechobee 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 Okeechobee built between 1940-1969 ( 24.90%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.88%). There's also some housing in Okeechobee built before 1939 ( 3.88%).

Vacant housing appears to be an issue in Okeechobee. Fully 14.51% of the housing stock is classified as vacant. Left unchecked, vacant Okeechobee homes and apartments can be a drag on the real estate market, holding Okeechobee 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.

Okeechobee Home Appreciation Rates

Homes have actually lost value in Okeechobee over the last then years, as home values have seen a decline of 31.22% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Okeechobee home appreciation rates at -1.79%, which equates to an annual appreciation rate of -6.99%.

Appreciation rates are so strong in Okeechobee that despite a nationwide downturn in the housing market, Okeechobee real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Okeechobee appreciation rates continue to be some of the highest in America, at 6.88%, which is higher than appreciation rates in 83.59% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Okeechobee. Okeechobee appreciation rates in the latest quarter were at -1.79%, which equates to an annual appreciation rate of -6.99%.

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

Relative to Florida, our data show that Okeechobee's latest annual appreciation rate is lower than 70% of the other cities and towns in Florida.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Okeechobee differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Okeechobee - 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 Okeechobee real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$124,368

Okeechobee, FL HOME PRICES

Value Range
> $1,220,000 0.2
$915,001 - $1,220,000 0.5
$610,001 - $915,000 0.0
$488,001 - $610,000 0.3
$366,001 - $488,000 0.8
$244,001 - $366,000 9.5
$122,001 - $244,000 33.7
$61,001 - $122,000 33.0
$0 - $61,000 22.0

Very Low for FL
Low for Nation

Value Relative to Nation Value Relative to State
63.9925045382678 83.1196581196581

Number Of Homes And Apartments:
1,720

Rent & Ownership

 

Average Market Rent:
$1,084 / per month

Homeownership Rate

Homeownership
Owners 55.93
Renters 44.07
Vacant 14.51

Housing Market Details

 

Age of Homes

AGE OF Okeechobee HOMES
2000 or Newer 11.9
1970 - 1999 59.3
1940 - 1969 24.9
1939 or Older 3.9

Types of Homes

TYPE OF Okeechobee HOMES
Single-Family 67.7
Townhomes 1.2
Small Apt. Buildings 9.9
Apt. Complexes 8.0
Mobile Homes 12.8
Other 0.3

Home Size

SIZE OF Okeechobee HOMES
No Bedroom 0.75
1 Bedroom 5.77
2 Bedrooms 34.05
3 Bedrooms 40.31
4 Bedrooms 16.50
5 or more bedrooms 2.63

Okeechobee Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
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
36.91% 1.87% 1 4
* 10 is highest