Broken Arrow, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Broken Arrow, OK Housing Market Trends

With 110,198 people, 39,770 houses or apartments, and a median cost of homes of $187,661, Broken Arrow real estate is some of the most expensive in Oklahoma, although Broken Arrow home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Broken Arrow, accounting for 81.31% of the city's housing units. Other types of housing that are prevalent in Broken Arrow include large apartment complexes or high rise apartments ( 10.66%), mobile homes or trailers ( 2.77%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.76%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Broken Arrow. Owner-occupied housing accounts for 73.34% of Broken Arrow's homes, and 76.41% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Broken Arrow 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 Broken Arrow built between 2000 and later ( 33.42%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.53%).

Broken Arrow Home Appreciation Rates

Real estate appreciation rates in Broken Arrow's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.61% during the period.

Over the last year, Broken Arrow appreciation rates have trailed the rest of the nation. In the last twelve months, Broken Arrow's appreciation rate has been 4.86%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Broken Arrow were at 1.71%, which equates to an annual appreciation rate of 7.00%.

Relative to Oklahoma, our data show that Broken Arrow's latest annual appreciation rate is lower than 80% 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 Broken Arrow differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Broken Arrow - 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 Broken Arrow real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$187,661

Broken Arrow, OK HOME PRICES

> $1,163,000
0.5%
0.5%
$872,001 - $1,163,000
0.4%
0.4%
$581,001 - $872,000
1.2%
1.2%
$465,001 - $581,000
1.3%
1.3%
$349,001 - $465,000
4.7%
4.7%
$233,001 - $349,000
21.0%
21.0%
$116,001 - $233,000
59.1%
59.1%
$58,001 - $116,000
8.7%
8.7%
$0 - $58,000
3.0%
3.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very High for OK

Value Relative To Nation

Number Of Homes And Apartments:
39,770

Broken Arrow Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OK*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
55.10% 2.11%
2
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,473 / per month

Homeownership Rate

Owners
73.3%
73.3%
Renters
26.7%
26.7%
Vacant
5.7%
5.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
33.4%
33.4%
1970 - 1999
58.2%
58.2%
1940 - 1969
7.5%
7.5%
1939 or Older
0.9%
0.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
81.3%
81.3%
Townhomes
2.4%
2.4%
Small Apt. Buildings
2.8%
2.8%
Apt. Complexes
10.7%
10.7%
Mobile Homes
2.8%
2.8%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.0%
1.0%
1 Bedroom
5.6%
5.6%
2 Bedrooms
12.2%
12.2%
3 Bedrooms
52.3%
52.3%
4 Bedrooms
24.1%
24.1%
5 or more bedrooms
4.8%
4.8%
0.0% 100.0%
% OF HOMES