El Reno, OK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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El Reno, 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

El Reno Housing Market Information

With a population of 18,516, 5,664 total housing units (homes and apartments), and a median house value of $124,218, house prices in El Reno are solidly below the national average.

Single-family detached homes are the single most common housing type in El Reno, accounting for 83.19% of the city's housing units. Other types of housing that are prevalent in El Reno include large apartment complexes or high rise apartments ( 6.36%), duplexes, homes converted to apartments or other small apartment buildings ( 5.92%), and a few mobile homes or trailers ( 3.71%).

The most prevalent building size and type in El Reno are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.17% owning and 39.83% 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. El Reno's housing was primarily built during this period, from the '40s through the '60s. A full 38.55% of the city's housing hails from this era. Other housing ages represented in El Reno include homes built between 1970-1999 ( 31.96%) and housing constructed before 1939 ( 20.13%). There's also some housing in El Reno built between 2000 and later ( 9.36%).

Vacant housing appears to be an issue in El Reno. Fully 14.48% of the housing stock is classified as vacant. Left unchecked, vacant El Reno homes and apartments can be a drag on the real estate market, holding El Reno 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.

El Reno Home Appreciation Rates

In the last 10 years, El Reno has experienced some of the highest home appreciation rates of any community in the nation. El Reno real estate appreciated 20.31% over the last ten years, which is an average annual home appreciation rate of 1.87%, putting El Reno in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, El Reno 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, El Reno's appreciation rate, at 4.98%, has been at or slightly above the national average. In the latest quarter, El Reno's appreciation rate has been 0.33%, which annualizes to a rate of 1.34%.

Relative to Oklahoma, our data show that El Reno's latest annual appreciation rate is higher than 80% of the other cities and towns in Oklahoma.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within El Reno differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in El Reno - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best El Reno real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$124,218

El Reno, OK HOME PRICES

Value Range
> $1,122,000 0.2
$841,001 - $1,122,000 0.0
$561,001 - $841,000 0.7
$449,001 - $561,000 1.0
$337,001 - $449,000 2.5
$224,001 - $337,000 8.4
$112,001 - $224,000 32.6
$56,001 - $112,000 38.1
$0 - $56,000 16.6

High for OK
Low for Nation

Value Relative to Nation Value Relative to State
63.0083206375249 24.1691842900302

Number Of Homes And Apartments:
5,664

El Reno 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
59.70% 2.75% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$829 / per month

Homeownership Rate

Homeownership
Owners 60.17
Renters 39.83
Vacant 14.48

Housing Market Details

 

Age of Homes

AGE OF El Reno HOMES
2000 or Newer 9.4
1970 - 1999 32.0
1940 - 1969 38.5
1939 or Older 20.1

Types of Homes

TYPE OF El Reno HOMES
Single-Family 83.2
Townhomes 0.8
Small Apt. Buildings 5.9
Apt. Complexes 6.4
Mobile Homes 3.7
Other 0.0

Home Size

SIZE OF El Reno HOMES
No Bedroom 2.08
1 Bedroom 10.61
2 Bedrooms 29.25
3 Bedrooms 46.35
4 Bedrooms 11.19
5 or more bedrooms 0.51