Checotah, OK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Checotah, OK 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

Checotah Housing Market Information

With 3,261 people, 1,201 houses or apartments, and a median cost of homes of $103,111, house prices in Checotah are solidly below the national average.

Single-family detached homes are the single most common housing type in Checotah, accounting for 75.92% of the city's housing units. Other types of housing that are prevalent in Checotah include mobile homes or trailers ( 10.27%), duplexes, homes converted to apartments or other small apartment buildings ( 8.40%), and a few large apartment complexes or high rise apartments ( 4.16%).

The most prevalent building size and type in Checotah are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.38% owning and 39.62% renting.

There is a lot of housing in Checotah 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 Checotah built between 1940-1969 ( 35.95%). A lesser amount of the housing stock also hails from between 2000 and later ( 5.14%). There's also some housing in Checotah built before 1939 ( 4.93%).

Vacant housing appears to be an issue in Checotah. Fully 16.66% of the housing stock is classified as vacant. Left unchecked, vacant Checotah homes and apartments can be a drag on the real estate market, holding Checotah 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.

Checotah Home Appreciation Rates

In the last 10 years, Checotah has experienced some of the highest home appreciation rates of any community in the nation. Checotah real estate appreciated 27.30% over the last ten years, which is an average annual home appreciation rate of 2.44%, putting Checotah in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Checotah definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Checotah's appreciation rate, at 3.88%, has been at or slightly above the national average. In the latest quarter, Checotah's appreciation rate has been 2.06%, which annualizes to a rate of 8.51%.

Importantly, this makes Checotah one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Oklahoma, our data show that Checotah's latest annual appreciation rate is higher than 60% of the other cities and towns in Oklahoma.

Average Home Values

 

Median Home Value:
$103,111

Checotah, OK HOME PRICES

Value Range
> $1,103,000 0.0
$827,001 - $1,103,000 0.0
$551,001 - $827,000 0.0
$441,001 - $551,000 0.0
$331,001 - $441,000 3.7
$221,001 - $331,000 5.4
$110,001 - $221,000 32.5
$55,001 - $110,000 39.2
$0 - $55,000 19.1

Average for OK
Low for Nation

Value Relative to Nation Value Relative to State
75.5713113793508 41.3897280966767

Number Of Homes And Apartments:
1,201

Checotah Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OK*
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
56.72% 2.64% 5 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$777 / per month

Homeownership Rate

Homeownership
Owners 60.38
Renters 39.62
Vacant 16.66

Housing Market Details

 

Age of Homes

AGE OF Checotah HOMES
2000 or Newer 5.1
1970 - 1999 54.0
1940 - 1969 35.9
1939 or Older 4.9

Types of Homes

TYPE OF Checotah HOMES
Single-Family 75.9
Townhomes 1.2
Small Apt. Buildings 8.4
Apt. Complexes 4.2
Mobile Homes 10.3
Other 0.0

Home Size

SIZE OF Checotah HOMES
No Bedroom 8.05
1 Bedroom 3.61
2 Bedrooms 35.74
3 Bedrooms 45.66
4 Bedrooms 6.32
5 or more bedrooms 0.62

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Zip Codes in Checotah, OK