Broken Bow, OK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Broken Bow, OK Real Estate Data


Broken Bow Housing Market Information

With a population of 4,131, 1,496 total housing units (homes and apartments), and a median house value of $75,510, house prices in Broken Bow are some of the most affordable in Oklahoma as well as the nation.

Single-family detached homes are the single most common housing type in Broken Bow, accounting for 74.17% of the city's housing units. Other types of housing that are prevalent in Broken Bow include duplexes, homes converted to apartments or other small apartment buildings ( 17.49%), large apartment complexes or high rise apartments ( 6.01%), and a few mobile homes or trailers ( 2.33%).

The most prevalent building size and type in Broken Bow are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 46.01% owning and 53.99% renting.

There is a lot of housing in Broken Bow 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 Bow built between 1940-1969 ( 26.71%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.04%). There's also some housing in Broken Bow built before 1939 ( 6.41%).

Vacant housing appears to be an issue in Broken Bow. Fully 12.77% of the housing stock is classified as vacant. Left unchecked, vacant Broken Bow homes and apartments can be a drag on the real estate market, holding Broken Bow 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.

Broken Bow Home Appreciation Rates

Appreciation rates for homes in Broken Bow have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.33%, which ranks in the top 50% nationwide. This equates to an annual average Broken Bow house appreciation rate of 0.33%.

Over the last year, Broken Bow appreciation rates have trailed the rest of the nation. In the last twelve months, Broken Bow's appreciation rate has been 1.42%, 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 Bow were at -0.59%, which equates to an annual appreciation rate of -2.33%.

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

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

Average Home Values

 

Median Home Value:
$75,510

Broken Bow, OK HOME PRICES

Value Range
> $1,039,000 0.0
$779,001 - $1,039,000 0.0
$520,001 - $779,000 0.0
$416,001 - $520,000 1.5
$312,001 - $416,000 1.3
$208,001 - $312,000 3.2
$104,001 - $208,000 21.1
$52,001 - $104,000 47.8
$0 - $52,000 25.1

Very Low for OK
Very Low for Nation

Value Relative to Nation Value Relative to State
92.8395640454705 83.3836858006042

Number Of Homes And Apartments:
1,496

Rent & Ownership

 

Average Market Rent:
$701 / per month

Homeownership Rate

Homeownership
Owners 46.01
Renters 53.99
Vacant 12.77

Housing Market Details

 

Age of Homes

AGE OF Broken Bow HOMES
2000 or Newer 9.0
1970 - 1999 57.8
1940 - 1969 26.7
1939 or Older 6.4

Types of Homes

TYPE OF Broken Bow HOMES
Single-Family 74.2
Townhomes 0.0
Small Apt. Buildings 17.5
Apt. Complexes 6.0
Mobile Homes 2.3
Other 0.0

Home Size

SIZE OF Broken Bow HOMES
No Bedroom 4.84
1 Bedroom 6.71
2 Bedrooms 26.12
3 Bedrooms 48.57
4 Bedrooms 12.42
5 or more bedrooms 1.34

Broken Bow Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OK*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
49.72% 2.37% 4 6
* 10 is highest

Popular Neighborhoods in Broken Bow

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Zip Codes in Broken Bow, OK