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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Altus, OK Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Altus, OK Housing Market Trends

With a population of 18,556, 7,403 total housing units (homes and apartments), and a median house value of $276,975, Altus real estate is some of the most expensive in Oklahoma, although Altus home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Altus, accounting for 81.74% of the city's housing units. Other types of housing that are prevalent in Altus include large apartment complexes or high rise apartments ( 9.23%), duplexes, homes converted to apartments or other small apartment buildings ( 4.50%), and a few row houses and other attached homes ( 3.44%).

The most prevalent building size and type in Altus are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.37% owning and 45.63% renting.

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. Altus's housing was primarily built during this period, from the '40s through the '60s. A full 42.91% of the city's housing hails from this era. Other housing ages represented in Altus include homes built between 1970-1999 ( 37.03%) and housing constructed between 2000 and later ( 12.34%). There's also some housing in Altus built before 1939 ( 7.72%).

Vacant housing appears to be an issue in Altus. Fully 17.26% of the housing stock is classified as vacant. Left unchecked, vacant Altus homes and apartments can be a drag on the real estate market, holding Altus 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.

Altus Home Appreciation Rates

Altus's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Altus during the period has been just 4.50%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Altus's appreciation rate, at 5.14%, has been at or slightly above the national average. In the latest quarter, Altus's appreciation rate has been 0.88%, which annualizes to a rate of 3.58%.

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

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

Average Home Values

Median Home Value

$276,975

Altus, OK Home Prices
> $1,335,000
$1,001,001 - $1,335,000
$668,001 - $1,001,000
$534,001 - $668,000
$401,001 - $534,000
$267,001 - $401,000
$134,001 - $267,000
$67,001 - $134,000
$0 - $67,000
0.0%
0.0%
0.0%
0.0%
3.5%
3.5%
2.3%
2.3%
5.6%
5.6%
15.4%
15.4%
25.2%
25.2%
32.4%
32.4%
15.8%
15.8%
0% 100.0%
% of Homes
Very High

for Oklahoma

Average

for nation

Number of Homes And Apartments:

7,403

Altus Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,219 / per month

Homeownership Rate

Owners
Renters
54.4%
54.4%
45.6%
45.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
17.3%
17.3%
82.7%
82.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
12.3%
12.3%
37.0%
37.0%
42.9%
42.9%
7.7%
7.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
81.7%
81.7%
3.4%
3.4%
4.5%
4.5%
9.2%
9.2%
1.1%
1.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.7%
1.7%
8.7%
8.7%
25.4%
25.4%
46.7%
46.7%
16.6%
16.6%
1.1%
1.1%
0% 100.0%
% of Homes