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 1,406 people, 583 houses or apartments, and a median cost of homes of $107,418, house prices in Locust Grove are solidly below the national average.
Single-family detached homes are the single most common housing type in Locust Grove, accounting for 79.82% of the town's housing units. Other types of housing that are prevalent in Locust Grove include duplexes, homes converted to apartments or other small apartment buildings ( 7.32%), mobile homes or trailers ( 5.98%), and a few large apartment complexes or high rise apartments ( 5.23%).
The most prevalent building size and type in Locust Grove are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 59.18% owning and 40.82% 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. Locust Grove's housing was primarily built during this period, from the '40s through the '60s. A full 43.65% of the town's housing hails from this era. Other housing ages represented in Locust Grove include homes built between 1970-1999 ( 40.36%) and housing constructed before 1939 ( 10.61%). There's also some housing in Locust Grove built between 2000 and later ( 5.38%).
Vacant housing appears to be an issue in Locust Grove. Fully 12.86% of the housing stock is classified as vacant. Left unchecked, vacant Locust Grove homes and apartments can be a drag on the real estate market, holding Locust Grove 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, Locust Grove has experienced some of the highest home appreciation rates of any community in the nation. Locust Grove real estate appreciated 18.69% over the last ten years, which is an average annual home appreciation rate of 1.73%, putting Locust Grove in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Locust Grove 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, Locust Grove's appreciation rate, at 3.27%, has been at or slightly above the national average. In the latest quarter, Locust Grove's appreciation rate has been 2.06%, which annualizes to a rate of 8.51%.
Importantly, this makes Locust Grove one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Oklahoma, our data show that Locust Grove's latest annual appreciation rate is lower than 50% of the other cities and towns in Oklahoma.
|$819,001 - $1,092,000||0.2|
|$546,001 - $819,000||1.9|
|$437,001 - $546,000||1.8|
|$328,001 - $437,000||0.0|
|$218,001 - $328,000||9.9|
|$109,001 - $218,000||33.0|
|$54,001 - $109,000||29.8|
|$0 - $54,000||22.5|
|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 Locust Grove HOMES|
|2000 or Newer||5.4|
|1970 - 1999||40.4|
|1940 - 1969||43.6|
|1939 or Older||10.6|
|TYPE OF Locust Grove HOMES|
|Small Apt. Buildings||7.3|
|SIZE OF Locust Grove HOMES|
|5 or more bedrooms||0.45|