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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Cherokee HOMES|
|2000 or Newer||1.2|
|1970 - 1999||17.7|
|1940 - 1969||30.6|
|1939 or Older||50.4|
|TYPE OF Cherokee HOMES|
|Small Apt. Buildings||2.2|
|SIZE OF Cherokee HOMES|
|5 or more bedrooms||2.79|