Oelwein, IA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Oelwein, IA 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

Oelwein Housing Market Information

With a population of 6,153, 2,778 total housing units (homes and apartments), and a median house value of $73,231, house prices in Oelwein are some of the most affordable in Iowa as well as the nation.

Single-family detached homes are the single most common housing type in Oelwein, accounting for 82.73% of the city's housing units. Other types of housing that are prevalent in Oelwein include large apartment complexes or high rise apartments ( 7.62%), duplexes, homes converted to apartments or other small apartment buildings ( 7.23%), and a few mobile homes or trailers ( 1.29%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Oelwein. Owner-occupied housing accounts for 66.89% of Oelwein's homes, and 53.25% have either three or four bedrooms, which is average sized relative to America.

The housing in Oelwein was primarily built before 1939 ( 46.17%), making the housing stock in Oelwein some of the oldest overall in America, although there is a range of ages of homes in Oelwein. The next most important housing age is between 1940-1969 ( 33.84%), followed by between 1970-1999 ( 14.98%). There's also some housing in Oelwein built between 2000 and later ( 5.00%).

Vacant housing appears to be an issue in Oelwein. Fully 10.30% of the housing stock is classified as vacant. Left unchecked, vacant Oelwein homes and apartments can be a drag on the real estate market, holding Oelwein 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.

Oelwein Home Appreciation Rates

Appreciation rates for homes in Oelwein have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.91%, which ranks in the top 30% nationwide. This equates to an annual average Oelwein house appreciation rate of 1.13%.

Over the last year, Oelwein appreciation rates have trailed the rest of the nation. In the last twelve months, Oelwein's appreciation rate has been 0.76%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Oelwein were at 0.99%, which equates to an annual appreciation rate of 4.00%.

Relative to Iowa, our data show that Oelwein's latest annual appreciation rate is lower than 90% of the other cities and towns in Iowa.

Average Home Values

 

Median Home Value:
$73,231

Oelwein, IA HOME PRICES

Value Range
> $1,068,000 0.0
$801,001 - $1,068,000 0.0
$534,001 - $801,000 0.0
$428,001 - $534,000 0.5
$320,001 - $428,000 1.1
$213,001 - $320,000 5.0
$107,001 - $213,000 19.3
$54,001 - $107,000 39.9
$0 - $54,000 34.2

Very Low for IA
Very Low for Nation

Value Relative to Nation Value Relative to State
93.9060119535919 96.0493827160494

Number Of Homes And Apartments:
2,778

Oelwein Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
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
42.07% 2.06% 4 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$613 / per month

Homeownership Rate

Homeownership
Owners 66.89
Renters 33.11
Vacant 10.30

Housing Market Details

 

Age of Homes

AGE OF Oelwein HOMES
2000 or Newer 5.0
1970 - 1999 15.0
1940 - 1969 33.8
1939 or Older 46.2

Types of Homes

TYPE OF Oelwein HOMES
Single-Family 82.7
Townhomes 1.1
Small Apt. Buildings 7.2
Apt. Complexes 7.6
Mobile Homes 1.3
Other 0.0

Home Size

SIZE OF Oelwein HOMES
No Bedroom 0.52
1 Bedroom 11.08
2 Bedrooms 32.00
3 Bedrooms 38.23
4 Bedrooms 15.01
5 or more bedrooms 3.16

Popular Neighborhoods in Oelwein

Zip Codes in Oelwein, IA