Lexington, OK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lexington, 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

Lexington Housing Market Information

With 2,161 people, 802 houses or apartments, and a median cost of homes of $94,040, the cost of homes in Lexington is among some of the lowest in the nation. Compared to Oklahoma, however, Lexington real state is not on the lower end of the price spectrum.

Single-family detached homes are the single most common housing type in Lexington, accounting for 71.16% of the city's housing units. Other types of housing that are prevalent in Lexington include mobile homes or trailers ( 24.92%), duplexes, homes converted to apartments or other small apartment buildings ( 1.85%), and a few large apartment complexes or high rise apartments ( 1.24%).

The most prevalent building size and type in Lexington are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.37% owning and 35.63% renting.

There is a lot of housing in Lexington 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 Lexington built between 1940-1969 ( 34.60%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.32%). There's also some housing in Lexington built before 1939 ( 10.50%).

Vacant housing appears to be an issue in Lexington. Fully 17.40% of the housing stock is classified as vacant. Left unchecked, vacant Lexington homes and apartments can be a drag on the real estate market, holding Lexington 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.

Lexington Home Appreciation Rates

Appreciation rates for homes in Lexington have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.93%, which ranks in the top 50% nationwide. This equates to an annual average Lexington house appreciation rate of 0.39%.

Appreciation rates are so strong in Lexington that despite a nationwide downturn in the housing market, Lexington real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lexington appreciation rates continue to be some of the highest in America, at 10.84%, which is higher than appreciation rates in 95.75% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lexington. Lexington appreciation rates in the latest quarter were at 0.33%, which equates to an annual appreciation rate of 1.34%.

Relative to Oklahoma, our data show that Lexington's latest annual appreciation rate is higher than 90% of the other cities and towns in Oklahoma.

Average Home Values

 

Median Home Value:
$94,040

Lexington, OK HOME PRICES

Value Range
> $1,165,000 0.0
$873,001 - $1,165,000 0.0
$582,001 - $873,000 1.0
$466,001 - $582,000 1.0
$349,001 - $466,000 0.0
$233,001 - $349,000 4.0
$116,001 - $233,000 30.6
$58,001 - $116,000 31.8
$0 - $58,000 31.6

Average for OK
Very Low for Nation

Value Relative to Nation Value Relative to State
81.3371616078753 55.5891238670695

Number Of Homes And Apartments:
802

Lexington 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
32.57% 1.65% 1 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$827 / per month

Homeownership Rate

Homeownership
Owners 64.37
Renters 35.63
Vacant 17.40

Housing Market Details

 

Age of Homes

AGE OF Lexington HOMES
2000 or Newer 14.3
1970 - 1999 40.6
1940 - 1969 34.6
1939 or Older 10.5

Types of Homes

TYPE OF Lexington HOMES
Single-Family 71.2
Townhomes 0.8
Small Apt. Buildings 1.9
Apt. Complexes 1.2
Mobile Homes 24.9
Other 0.0

Home Size

SIZE OF Lexington HOMES
No Bedroom 0.31
1 Bedroom 3.19
2 Bedrooms 32.85
3 Bedrooms 55.61
4 Bedrooms 8.03
5 or more bedrooms 0.00

Popular Neighborhoods in Lexington

Zip Codes in Lexington, OK