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 a population of 13,611, 5,197 total housing units (homes and apartments), and a median house value of $76,479, house prices in Miami are some of the most affordable in Oklahoma as well as the nation.
Single-family detached homes are the single most common housing type in Miami, accounting for 81.86% of the city's housing units. Other types of housing that are prevalent in Miami include large apartment complexes or high rise apartments ( 9.81%), duplexes, homes converted to apartments or other small apartment buildings ( 4.49%), and a few mobile homes or trailers ( 2.36%).
The most prevalent building size and type in Miami are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.98% owning and 44.02% 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. Miami's housing was primarily built during this period, from the '40s through the '60s. A full 45.26% of the city's housing hails from this era. Other housing ages represented in Miami include homes built between 1970-1999 ( 34.90%) and housing constructed before 1939 ( 14.00%). There's also some housing in Miami built between 2000 and later ( 5.83%).
Vacant housing appears to be an issue in Miami. Fully 12.88% of the housing stock is classified as vacant. Left unchecked, vacant Miami homes and apartments can be a drag on the real estate market, holding Miami 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.
Appreciation rates for homes in Miami have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.80%, which ranks in the top 50% nationwide. This equates to an annual average Miami house appreciation rate of 0.28%.
Over the last year, Miami appreciation rates have trailed the rest of the nation. In the last twelve months, Miami's appreciation rate has been -2.59%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Miami were at 2.06%, which equates to an annual appreciation rate of 8.51%.
Importantly, this makes Miami one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Oklahoma, our data show that Miami's latest annual appreciation rate is lower than 90% 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 Miami differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Miami - 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 Miami real estate investment or home purchase decisions.
|$789,001 - $1,052,000||0.0|
|$526,001 - $789,000||0.7|
|$421,001 - $526,000||0.2|
|$316,001 - $421,000||1.1|
|$210,001 - $316,000||4.3|
|$105,001 - $210,000||25.3|
|$53,001 - $105,000||43.9|
|$0 - $53,000||24.3|
|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 Miami HOMES|
|2000 or Newer||5.8|
|1970 - 1999||34.9|
|1940 - 1969||45.3|
|1939 or Older||14.0|
|TYPE OF Miami HOMES|
|Small Apt. Buildings||4.5|
|SIZE OF Miami HOMES|
|5 or more bedrooms||1.64|