Okemos, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Okemos Neighborhoods Since 2000




Okemos, MI 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

Okemos Housing Market Information

With a population of 22,463, 9,071 total housing units (homes and apartments), and a median house value of $268,397, Okemos real estate is some of the most expensive in Michigan, although Okemos home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Okemos, accounting for 62.32% of the town's housing units. Other types of housing that are prevalent in Okemos include large apartment complexes or high rise apartments ( 28.58%), row houses and other attached homes ( 6.04%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.40%).

The most prevalent building size and type in Okemos are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 62.75% owning and 37.25% renting.

There is a lot of housing in Okemos 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 Okemos built between 1940-1969 ( 28.84%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.21%). There's also some housing in Okemos built before 1939 ( 3.98%).

Okemos Home Appreciation Rates

Real estate appreciation rates in Okemos's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.51% during the period.

Appreciation rates are so strong in Okemos that despite a nationwide downturn in the housing market, Okemos real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Okemos appreciation rates continue to be some of the highest in America, at 7.54%, which is higher than appreciation rates in 84.34% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Okemos. Okemos appreciation rates in the latest quarter were at 1.36%, which equates to an annual appreciation rate of 5.54%.

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

Average Home Values

 

Median Home Value:
$268,397

Okemos, MI HOME PRICES

Value Range
> $1,188,000 0.4
$891,001 - $1,188,000 0.6
$594,001 - $891,000 3.9
$475,001 - $594,000 6.7
$357,001 - $475,000 11.7
$238,001 - $357,000 25.3
$119,001 - $238,000 41.5
$59,001 - $119,000 6.8
$0 - $59,000 3.2

Very High for MI
Very High for Nation

Value Relative to Nation Value Relative to State
19.9871088714403 7.05128205128205

Number Of Homes And Apartments:
9,071

Okemos Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
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
10.04% 0.56% 6 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,081 / per month

Homeownership Rate

Homeownership
Owners 62.75
Renters 37.25
Vacant 4.37

Housing Market Details

 

Age of Homes

AGE OF Okemos HOMES
2000 or Newer 13.2
1970 - 1999 54.0
1940 - 1969 28.8
1939 or Older 4.0

Types of Homes

TYPE OF Okemos HOMES
Single-Family 62.3
Townhomes 6.0
Small Apt. Buildings 2.4
Apt. Complexes 28.6
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF Okemos HOMES
No Bedroom 1.73
1 Bedroom 11.33
2 Bedrooms 23.33
3 Bedrooms 31.93
4 Bedrooms 25.96
5 or more bedrooms 5.71