Cushing, OK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Cushing Neighborhoods Since 2000




Cushing, 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

Cushing Housing Market Information

With a population of 7,867, 2,811 total housing units (homes and apartments), and a median house value of $110,258, house prices in Cushing are solidly below the national average.

Single-family detached homes are the single most common housing type in Cushing, accounting for 82.72% of the city's housing units. Other types of housing that are prevalent in Cushing include duplexes, homes converted to apartments or other small apartment buildings ( 7.08%), large apartment complexes or high rise apartments ( 4.31%), and a few mobile homes or trailers ( 2.94%).

The most prevalent building size and type in Cushing are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.68% owning and 46.32% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Cushing's housing was primarily built during this period, from the '40s through the '60s. A full 38.10% of the city's housing hails from this era. Other housing ages represented in Cushing include homes built between 1970-1999 ( 29.88%) and housing constructed before 1939 ( 24.05%). There's also some housing in Cushing built between 2000 and later ( 7.97%).

Vacant housing appears to be an issue in Cushing. Fully 19.71% of the housing stock is classified as vacant. Left unchecked, vacant Cushing homes and apartments can be a drag on the real estate market, holding Cushing 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.

Cushing Home Appreciation Rates

Appreciation rates for homes in Cushing have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.51%, which ranks in the top 30% nationwide. This equates to an annual average Cushing house appreciation rate of 1.00%.

Over the last year, Cushing appreciation rates have trailed the rest of the nation. In the last twelve months, Cushing's appreciation rate has been 0.98%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cushing were at 2.06%, which equates to an annual appreciation rate of 8.51%.

Importantly, this makes Cushing 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 Cushing's latest annual appreciation rate is lower than 90% of the other cities and towns in Oklahoma.

Average Home Values

 

Median Home Value:
$110,258

Cushing, OK HOME PRICES

Value Range
> $1,099,000 0.0
$824,001 - $1,099,000 0.8
$550,001 - $824,000 0.1
$440,001 - $550,000 1.1
$330,001 - $440,000 1.2
$220,001 - $330,000 9.8
$110,001 - $220,000 29.5
$55,001 - $110,000 35.8
$0 - $55,000 21.7

High for OK
Low for Nation

Value Relative to Nation Value Relative to State
71.2703621235204 36.2537764350453

Number Of Homes And Apartments:
2,811

Cushing 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
45.57% 2.20% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$921 / per month

Homeownership Rate

Homeownership
Owners 53.68
Renters 46.32
Vacant 19.71

Housing Market Details

 

Age of Homes

AGE OF Cushing HOMES
2000 or Newer 8.0
1970 - 1999 29.9
1940 - 1969 38.1
1939 or Older 24.1

Types of Homes

TYPE OF Cushing HOMES
Single-Family 82.7
Townhomes 1.2
Small Apt. Buildings 7.1
Apt. Complexes 4.3
Mobile Homes 2.9
Other 1.7

Home Size

SIZE OF Cushing HOMES
No Bedroom 1.63
1 Bedroom 11.54
2 Bedrooms 34.05
3 Bedrooms 43.96
4 Bedrooms 6.77
5 or more bedrooms 2.06

Popular Neighborhoods in Cushing

Zip Codes in Cushing, OK