Ottumwa, IA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Ottumwa, IA Real Estate Data


Ottumwa Housing Market Information

With 24,624 people, 10,253 houses or apartments, and a median cost of homes of $82,547, house prices in Ottumwa 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 Ottumwa, accounting for 76.84% of the city's housing units. Other types of housing that are prevalent in Ottumwa include large apartment complexes or high rise apartments ( 11.87%), duplexes, homes converted to apartments or other small apartment buildings ( 6.77%), and a few mobile homes or trailers ( 3.45%).

Dwellings in Ottumwa tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 54.52% of the homes in Ottumwa have two or fewer bedrooms.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Ottumwa's housing was primarily built during this period, from the '40s through the '60s. A full 40.12% of the city's housing hails from this era. Other housing ages represented in Ottumwa include homes built before 1939 ( 37.17%) and housing constructed between 1970-1999 ( 19.97%). There's also some housing in Ottumwa built between 2000 and later ( 2.74%).

Ottumwa Home Appreciation Rates

Appreciation rates for homes in Ottumwa have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.43%, which ranks in the top 40% nationwide. This equates to an annual average Ottumwa house appreciation rate of 0.90%.

NeighborhoodScout's data show that during the latest twelve months, Ottumwa's appreciation rate, at 4.48%, has been at or slightly above the national average. In the latest quarter, Ottumwa's appreciation rate has been -0.32%, which annualizes to a rate of -1.26%.

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

Relative to Iowa, our data show that Ottumwa's latest annual appreciation rate is higher than 50% of the other cities and towns in Iowa.

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

Average Home Values

 

Median Home Value:
$82,547

Ottumwa, IA HOME PRICES

Value Range
> $1,119,000 0.2
$839,001 - $1,119,000 0.1
$559,001 - $839,000 0.2
$447,001 - $559,000 0.2
$336,001 - $447,000 1.1
$224,001 - $336,000 3.9
$112,001 - $224,000 18.5
$56,001 - $112,000 43.8
$0 - $56,000 32.0

Very Low for IA
Very Low for Nation

Value Relative to Nation Value Relative to State
89.8577033436786 93.0864197530864

Number Of Homes And Apartments:
10,253

Rent & Ownership

 

Average Market Rent:
$798 / per month

Homeownership Rate

Homeownership
Owners 65.70
Renters 34.30
Vacant 8.98

Housing Market Details

 

Age of Homes

AGE OF Ottumwa HOMES
2000 or Newer 2.7
1970 - 1999 20.0
1940 - 1969 40.1
1939 or Older 37.2

Types of Homes

TYPE OF Ottumwa HOMES
Single-Family 76.8
Townhomes 1.1
Small Apt. Buildings 6.8
Apt. Complexes 11.9
Mobile Homes 3.5
Other 0.0

Home Size

SIZE OF Ottumwa HOMES
No Bedroom 3.23
1 Bedroom 12.23
2 Bedrooms 39.06
3 Bedrooms 33.52
4 Bedrooms 10.20
5 or more bedrooms 1.76

Ottumwa Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
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
36.57% 1.85% 3 4
* 10 is highest