Owasso, OK Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Owasso, OK Housing Market Trends

With a population of 36,957, 13,342 total housing units (homes and apartments), and a median house value of $224,244, Owasso real estate is some of the most expensive in Oklahoma, although Owasso home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Owasso, accounting for 75.28% of the city's housing units. Other types of housing that are prevalent in Owasso include large apartment complexes or high rise apartments ( 18.87%), duplexes, homes converted to apartments or other small apartment buildings ( 3.40%), and a few row houses and other attached homes ( 1.58%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Owasso. Owner-occupied housing accounts for 67.85% of Owasso's homes, and 72.49% have either three or four bedrooms, which is average sized relative to America.

Owasso homes and real estate are some of the newest in America. 46.42% of Owasso's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Owasso real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 45.79%), and between 1940-1969 ( 7.50%).

Owasso Home Appreciation Rates

Real estate appreciation rates in Owasso's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.61% during the period.

Over the last year, Owasso appreciation rates have trailed the rest of the nation. In the last twelve months, Owasso's appreciation rate has been 3.55%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Owasso were at 1.51%, which equates to an annual appreciation rate of 6.18%.

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

Average Home Values

 

Median Home Value:
$224,244

Owasso, OK HOME PRICES

> $1,154,000
0.0%
0.0%
$865,001 - $1,154,000
0.7%
0.7%
$577,001 - $865,000
1.1%
1.1%
$462,001 - $577,000
0.8%
0.8%
$347,001 - $462,000
4.9%
4.9%
$231,001 - $347,000
27.4%
27.4%
$115,001 - $231,000
56.9%
56.9%
$58,001 - $115,000
5.8%
5.8%
$0 - $58,000
2.4%
2.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for OK

Value Relative To Nation

Number Of Homes And Apartments:
13,342

Owasso Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OK*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
55.28% 2.09%
2
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,237 / per month

Homeownership Rate

Owners
67.9%
67.9%
Renters
32.1%
32.1%
Vacant
4.4%
4.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
46.4%
46.4%
1970 - 1999
45.8%
45.8%
1940 - 1969
7.5%
7.5%
1939 or Older
0.3%
0.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
75.3%
75.3%
Townhomes
1.6%
1.6%
Small Apt. Buildings
3.4%
3.4%
Apt. Complexes
18.9%
18.9%
Mobile Homes
0.9%
0.9%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.9%
0.9%
1 Bedroom
9.6%
9.6%
2 Bedrooms
13.9%
13.9%
3 Bedrooms
51.6%
51.6%
4 Bedrooms
20.8%
20.8%
5 or more bedrooms
3.1%
3.1%
0.0% 100.0%
% OF HOMES