Okemah, OK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Okemah, OK Real Estate Data


Okemah Housing Market Information

With 3,247 people, 1,088 houses or apartments, and a median cost of homes of $71,785, 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 68.32% 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 ( 13.39%), mobile homes or trailers ( 8.43%), and a few large apartment complexes or high rise apartments ( 6.47%).

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 47.25% owning and 52.75% 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 38.07% of the city's housing hails from this era. Other housing ages represented in Okemah include homes built between 1970-1999 ( 37.77%) and housing constructed before 1939 ( 19.79%). There's also some housing in Okemah built between 2000 and later ( 4.36%).

Vacant housing appears to be an issue in Okemah. Fully 18.13% 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.

Okemah Home Appreciation Rates

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 19.30% over the last ten years, which is an average annual home appreciation rate of 1.78%, 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 4.90%, has been at or slightly above the national average. In the latest quarter, Okemah's appreciation rate has been 1.16%, which annualizes to a rate of 4.72%.

Relative to Oklahoma, our data show that Okemah's latest annual appreciation rate is higher than 60% of the other cities and towns in Oklahoma.

Average Home Values

 

Median Home Value:
$71,785

Okemah, OK HOME PRICES

Value Range
> $1,123,000 0.0
$843,001 - $1,123,000 0.0
$561,001 - $843,000 0.0
$450,001 - $561,000 0.0
$337,001 - $450,000 1.8
$224,001 - $337,000 3.5
$113,001 - $224,000 22.1
$56,001 - $113,000 33.0
$0 - $56,000 39.7

Very Low for OK
Very Low for Nation

Value Relative to Nation Value Relative to State
94.9815541371435 90.3323262839879

Number Of Homes And Apartments:
1,088

Rent & Ownership

 

Average Market Rent:
$805 / per month

Homeownership Rate

Homeownership
Owners 47.25
Renters 52.75
Vacant 18.13

Housing Market Details

 

Age of Homes

AGE OF Okemah HOMES
2000 or Newer 4.4
1970 - 1999 37.8
1940 - 1969 38.1
1939 or Older 19.8

Types of Homes

TYPE OF Okemah HOMES
Single-Family 68.3
Townhomes 3.4
Small Apt. Buildings 13.4
Apt. Complexes 6.5
Mobile Homes 8.4
Other 0.0

Home Size

SIZE OF Okemah HOMES
No Bedroom 0.00
1 Bedroom 10.91
2 Bedrooms 34.39
3 Bedrooms 43.57
4 Bedrooms 7.90
5 or more bedrooms 3.24

Okemah Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OK*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
55.94% 2.65% 5 7
* 10 is highest

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