McAlester, OK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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McAlester, OK Real Estate Data


McAlester Housing Market Information

With a population of 18,310, 6,900 total housing units (homes and apartments), and a median house value of $83,663, house prices in McAlester are solidly below the national average.

Single-family detached homes are the single most common housing type in McAlester, accounting for 84.02% of the city's housing units. Other types of housing that are prevalent in McAlester include duplexes, homes converted to apartments or other small apartment buildings ( 7.20%), large apartment complexes or high rise apartments ( 6.41%), and a few row houses and other attached homes ( 1.69%).

The most prevalent building size and type in McAlester are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.99% owning and 45.01% 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. McAlester's housing was primarily built during this period, from the '40s through the '60s. A full 39.56% of the city's housing hails from this era. Other housing ages represented in McAlester include homes built between 1970-1999 ( 35.74%) and housing constructed before 1939 ( 13.46%). There's also some housing in McAlester built between 2000 and later ( 11.24%).

Vacant housing appears to be an issue in McAlester. Fully 15.13% of the housing stock is classified as vacant. Left unchecked, vacant McAlester homes and apartments can be a drag on the real estate market, holding McAlester 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.

McAlester Home Appreciation Rates

Appreciation rates for homes in McAlester have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.12%, which ranks in the top 40% nationwide. This equates to an annual average McAlester house appreciation rate of 0.50%.

Over the last year, McAlester appreciation rates have trailed the rest of the nation. In the last twelve months, McAlester's appreciation rate has been 3.03%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in McAlester were at 0.02%, which equates to an annual appreciation rate of 0.06%.

Relative to Oklahoma, our data show that McAlester'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 McAlester differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in McAlester - 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 McAlester real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$83,663

McAlester, OK HOME PRICES

Value Range
> $1,053,000 0.0
$790,001 - $1,053,000 0.2
$527,001 - $790,000 0.4
$421,001 - $527,000 0.2
$316,001 - $421,000 2.5
$211,001 - $316,000 8.9
$105,001 - $211,000 34.7
$53,001 - $105,000 35.6
$0 - $53,000 17.5

Low for OK
Very Low for Nation

Value Relative to Nation Value Relative to State
88.1167233095043 68.2779456193353

Number Of Homes And Apartments:
6,900

Rent & Ownership

 

Average Market Rent:
$860 / per month

Homeownership Rate

Homeownership
Owners 54.99
Renters 45.01
Vacant 15.13

Housing Market Details

 

Age of Homes

AGE OF McAlester HOMES
2000 or Newer 11.2
1970 - 1999 35.7
1940 - 1969 39.6
1939 or Older 13.5

Types of Homes

TYPE OF McAlester HOMES
Single-Family 84.0
Townhomes 1.7
Small Apt. Buildings 7.2
Apt. Complexes 6.4
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF McAlester HOMES
No Bedroom 1.02
1 Bedroom 8.35
2 Bedrooms 29.10
3 Bedrooms 49.30
4 Bedrooms 10.84
5 or more bedrooms 1.39

McAlester Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OK*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
34.23% 1.72% 2 4
* 10 is highest