Oakland, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Oakland, MD Real Estate Data


Oakland Housing Market Information

With 1,875 people, 918 houses or apartments, and a median cost of homes of $175,072, Oakland real estate values are some of the lowest in Maryland, although compared to real estate around the nation, Oakland homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Oakland, accounting for 59.50% of the town's housing units. Other types of housing that are prevalent in Oakland include large apartment complexes or high rise apartments ( 22.23%), duplexes, homes converted to apartments or other small apartment buildings ( 11.25%), and a few mobile homes or trailers ( 4.89%).

People in Oakland primarily live in small (one, two or no bedroom) single-family detached homes. Oakland has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Oakland 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 Oakland built before 1939 ( 28.78%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.56%). There's also some housing in Oakland built between 2000 and later ( 11.35%).

Vacant housing appears to be an issue in Oakland. Fully 15.31% of the housing stock is classified as vacant. Left unchecked, vacant Oakland homes and apartments can be a drag on the real estate market, holding Oakland 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.

Oakland Home Appreciation Rates

Real estate appreciation rates in Oakland's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.48% during the period.

NeighborhoodScout's data show that during the latest twelve months, Oakland's appreciation rate, at 5.08%, has been at or slightly above the national average. In the latest quarter, Oakland's appreciation rate has been 0.30%, which annualizes to a rate of 1.22%.

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

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

Average Home Values

 

Median Home Value:
$175,072

Oakland, MD HOME PRICES

Value Range
> $1,012,000 2.1
$759,001 - $1,012,000 0.0
$506,001 - $759,000 0.2
$404,001 - $506,000 1.6
$304,001 - $404,000 7.6
$203,001 - $304,000 24.0
$101,001 - $203,000 43.0
$51,001 - $101,000 11.1
$0 - $51,000 10.4

Very Low for MD
Average for Nation

Value Relative to Nation Value Relative to State
40.9790946887627 84.7908745247148

Number Of Homes And Apartments:
918

Rent & Ownership

 

Average Market Rent:
$862 / per month

Homeownership Rate

Homeownership
Owners 44.31
Renters 55.69
Vacant 15.31

Housing Market Details

 

Age of Homes

AGE OF Oakland HOMES
2000 or Newer 11.3
1970 - 1999 40.3
1940 - 1969 19.6
1939 or Older 28.8

Types of Homes

TYPE OF Oakland HOMES
Single-Family 59.5
Townhomes 2.1
Small Apt. Buildings 11.3
Apt. Complexes 22.2
Mobile Homes 4.9
Other 0.0

Home Size

SIZE OF Oakland HOMES
No Bedroom 4.43
1 Bedroom 15.87
2 Bedrooms 29.52
3 Bedrooms 36.62
4 Bedrooms 12.08
5 or more bedrooms 1.48

Oakland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
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
64.66% 2.98% 6 8
* 10 is highest

Popular Neighborhoods in Oakland

Zip Codes in Oakland, MD