Cherokee, OK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Cherokee Neighborhoods Since 2000




Cherokee, 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

Cherokee Housing Market Information

With a population of 1,560, 684 total housing units (homes and apartments), and a median house value of $74,949, house prices in Cherokee 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 Cherokee, accounting for 91.74% of the city's housing units. Other types of housing that are prevalent in Cherokee include mobile homes or trailers ( 4.58%), duplexes, homes converted to apartments or other small apartment buildings ( 2.23%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cherokee. Owner-occupied housing accounts for 75.74% of Cherokee's homes, and 49.33% have either three or four bedrooms, which is average sized relative to America.

The housing in Cherokee was primarily built before 1939 ( 50.45%), making the housing stock in Cherokee some of the oldest overall in America, although there is a range of ages of homes in Cherokee. The next most important housing age is between 1940-1969 ( 30.58%), followed by between 1970-1999 ( 17.75%). There's also some housing in Cherokee built between 2000 and later ( 1.23%).

Vacant housing appears to be an issue in Cherokee. Fully 23.66% of the housing stock is classified as vacant. Left unchecked, vacant Cherokee homes and apartments can be a drag on the real estate market, holding Cherokee 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.

Cherokee Home Appreciation Rates

In the last 10 years, Cherokee has experienced some of the highest home appreciation rates of any community in the nation. Cherokee real estate appreciated 25.90% over the last ten years, which is an average annual home appreciation rate of 2.33%, putting Cherokee in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Cherokee 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, Cherokee's appreciation rate, at 3.44%, has been at or slightly above the national average. In the latest quarter, Cherokee's appreciation rate has been 2.06%, which annualizes to a rate of 8.51%.

Importantly, this makes Cherokee 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 Cherokee's latest annual appreciation rate is higher than 50% of the other cities and towns in Oklahoma.

Average Home Values

 

Median Home Value:
$74,949

Cherokee, OK HOME PRICES

Value Range
> $1,097,000 0.3
$823,001 - $1,097,000 0.0
$549,001 - $823,000 3.4
$439,001 - $549,000 1.1
$329,001 - $439,000 1.6
$219,001 - $329,000 6.0
$110,001 - $219,000 16.8
$55,001 - $110,000 38.6
$0 - $55,000 32.1

Very Low for OK
Very Low for Nation

Value Relative to Nation Value Relative to State
93.1735614672448 86.1027190332326

Number Of Homes And Apartments:
684

Cherokee 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
74.39% 3.28% 9 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$899 / per month

Homeownership Rate

Homeownership
Owners 75.74
Renters 24.26
Vacant 23.66

Housing Market Details

 

Age of Homes

AGE OF Cherokee HOMES
2000 or Newer 1.2
1970 - 1999 17.7
1940 - 1969 30.6
1939 or Older 50.4

Types of Homes

TYPE OF Cherokee HOMES
Single-Family 91.7
Townhomes 0.2
Small Apt. Buildings 2.2
Apt. Complexes 0.8
Mobile Homes 4.6
Other 0.4

Home Size

SIZE OF Cherokee HOMES
No Bedroom 0.78
1 Bedroom 11.38
2 Bedrooms 35.71
3 Bedrooms 41.52
4 Bedrooms 7.81
5 or more bedrooms 2.79

Popular Neighborhoods in Cherokee

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Zip Codes in Cherokee, OK