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 3,247 people, 1,053 houses or apartments, and a median cost of homes of $75,985, house prices in Okemah 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 Okemah, accounting for 70.73% of the city's housing units. Other types of housing that are prevalent in Okemah include duplexes, homes converted to apartments or other small apartment buildings ( 13.80%), large apartment complexes or high rise apartments ( 6.17%), and a few mobile homes or trailers ( 5.52%).
The most prevalent building size and type in Okemah are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 49.18% owning and 50.82% 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. Okemah's housing was primarily built during this period, from the '40s through the '60s. A full 42.12% of the city's housing hails from this era. Other housing ages represented in Okemah include homes built between 1970-1999 ( 33.99%) and housing constructed before 1939 ( 19.32%). There's also some housing in Okemah built between 2000 and later ( 4.58%).
Vacant housing appears to be an issue in Okemah. Fully 23.53% of the housing stock is classified as vacant. Left unchecked, vacant Okemah homes and apartments can be a drag on the real estate market, holding Okemah 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, Okemah has experienced some of the highest home appreciation rates of any community in the nation. Okemah real estate appreciated 20.65% over the last ten years, which is an average annual home appreciation rate of 1.90%, putting Okemah in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Okemah 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, Okemah's appreciation rate, at 3.16%, has been at or slightly above the national average. In the latest quarter, Okemah's appreciation rate has been 2.06%, which annualizes to a rate of 8.51%.
Importantly, this makes Okemah 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 Okemah's latest annual appreciation rate is lower than 50% of the other cities and towns in Oklahoma.
|$822,001 - $1,096,000||0.0|
|$547,001 - $822,000||0.0|
|$438,001 - $547,000||0.0|
|$329,001 - $438,000||1.2|
|$219,001 - $329,000||5.9|
|$110,001 - $219,000||23.5|
|$54,001 - $110,000||34.5|
|$0 - $54,000||34.9|
|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 Okemah HOMES|
|2000 or Newer||4.6|
|1970 - 1999||34.0|
|1940 - 1969||42.1|
|1939 or Older||19.3|
|TYPE OF Okemah HOMES|
|Small Apt. Buildings||13.8|
|SIZE OF Okemah HOMES|
|5 or more bedrooms||2.69|