Luther, OK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Luther Neighborhoods Since 2000




Luther, 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

Luther Housing Market Information

With 1,541 people, 423 houses or apartments, and a median cost of homes of $163,906, Luther real estate is some of the most expensive in Oklahoma, although Luther home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Luther, accounting for 82.79% of the town's housing units. Other types of housing that are prevalent in Luther include mobile homes or trailers ( 17.21%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Luther. Owner-occupied housing accounts for 70.92% of Luther's homes, and 63.25% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Luther 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 Luther built between 2000 and later ( 28.63%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.86%). There's also some housing in Luther built before 1939 ( 14.89%).

Vacant housing appears to be an issue in Luther. Fully 18.18% of the housing stock is classified as vacant. Left unchecked, vacant Luther homes and apartments can be a drag on the real estate market, holding Luther 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.

Luther Home Appreciation Rates

In the last 10 years, Luther has experienced some of the highest home appreciation rates of any community in the nation. Luther real estate appreciated 22.51% over the last ten years, which is an average annual home appreciation rate of 2.05%, putting Luther in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Luther 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, Luther's appreciation rate, at 3.32%, has been at or slightly above the national average. In the latest quarter, Luther's appreciation rate has been 0.33%, which annualizes to a rate of 1.34%.

Relative to Oklahoma, our data show that Luther's latest annual appreciation rate is lower than 50% of the other cities and towns in Oklahoma.

Average Home Values

 

Median Home Value:
$163,906

Luther, OK HOME PRICES

Value Range
> $1,107,000 5.0
$830,001 - $1,107,000 0.2
$553,001 - $830,000 4.0
$442,001 - $553,000 6.0
$332,001 - $442,000 3.7
$221,001 - $332,000 18.2
$111,001 - $221,000 32.3
$55,001 - $111,000 20.8
$0 - $55,000 9.6

Very High for OK
Average for Nation

Value Relative to Nation Value Relative to State
44.0993788819876 6.64652567975831

Number Of Homes And Apartments:
423

Luther 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
43.53% 2.12% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$858 / per month

Homeownership Rate

Homeownership
Owners 70.92
Renters 29.08
Vacant 18.18

Housing Market Details

 

Age of Homes

AGE OF Luther HOMES
2000 or Newer 28.6
1970 - 1999 34.6
1940 - 1969 21.9
1939 or Older 14.9

Types of Homes

TYPE OF Luther HOMES
Single-Family 82.8
Townhomes 0.0
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 17.2
Other 0.0

Home Size

SIZE OF Luther HOMES
No Bedroom 0.00
1 Bedroom 4.06
2 Bedrooms 29.79
3 Bedrooms 54.55
4 Bedrooms 8.70
5 or more bedrooms 2.90

Popular Neighborhoods in Luther

Zip Codes in Luther, OK