Brookings, OR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Brookings, OR Real Estate Data


Brookings Housing Market Information

With 6,476 people, 3,043 houses or apartments, and a median cost of homes of $309,845, Brookings real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Brookings, accounting for 51.60% of the city's housing units. Other types of housing that are prevalent in Brookings include large apartment complexes or high rise apartments ( 16.20%), duplexes, homes converted to apartments or other small apartment buildings ( 16.20%), and a few row houses and other attached homes ( 13.97%).

The most prevalent building size and type in Brookings are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 43.34% owning and 56.66% renting.

There is a lot of housing in Brookings built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Brookings built between 1940-1969 ( 24.00%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.37%). There's also some housing in Brookings built before 1939 ( 3.37%).

Vacant housing appears to be an issue in Brookings. Fully 15.17% of the housing stock is classified as vacant. Left unchecked, vacant Brookings homes and apartments can be a drag on the real estate market, holding Brookings 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.

Brookings Home Appreciation Rates

Brookings's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Brookings during the period has been just -1.97%, which is lower than 80% of US communities.

Appreciation rates are so strong in Brookings that despite a nationwide downturn in the housing market, Brookings real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Brookings appreciation rates continue to be some of the highest in America, at 11.28%, which is higher than appreciation rates in 95.68% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Brookings. Brookings appreciation rates in the latest quarter were at 3.09%, which equates to an annual appreciation rate of 12.95%.

Importantly, this makes Brookings 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 Oregon, our data show that Brookings's latest annual appreciation rate is higher than 70% of the other cities and towns in Oregon.

Average Home Values

 

Median Home Value:
$309,845

Brookings, OR HOME PRICES

Value Range
> $1,208,000 1.4
$906,001 - $1,208,000 4.1
$604,001 - $906,000 6.6
$483,001 - $604,000 7.4
$363,001 - $483,000 13.3
$241,001 - $363,000 38.3
$121,001 - $241,000 21.1
$60,001 - $121,000 0.2
$0 - $60,000 7.6

High for OR
Very High for Nation

Value Relative to Nation Value Relative to State
15.2466893238017 30.9178743961353

Number Of Homes And Apartments:
3,043

Rent & Ownership

 

Average Market Rent:
$978 / per month

Homeownership Rate

Homeownership
Owners 43.34
Renters 56.66
Vacant 15.17

Housing Market Details

 

Age of Homes

AGE OF Brookings HOMES
2000 or Newer 18.4
1970 - 1999 54.3
1940 - 1969 24.0
1939 or Older 3.4

Types of Homes

TYPE OF Brookings HOMES
Single-Family 51.6
Townhomes 14.0
Small Apt. Buildings 16.2
Apt. Complexes 16.2
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF Brookings HOMES
No Bedroom 2.06
1 Bedroom 12.04
2 Bedrooms 25.87
3 Bedrooms 55.65
4 Bedrooms 3.88
5 or more bedrooms 0.50

Brookings Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OR*
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
86.86% 3.69% 9 10
* 10 is highest

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Zip Codes in Brookings, OR