Oakmont, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Oakmont Neighborhoods Since 2000




Oakmont, PA Real Estate Data

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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Oakmont Housing Market Information

With 6,443 people, 3,095 houses or apartments, and a median cost of homes of $192,078, Oakmont real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Oakmont, accounting for 57.34% of the borough's housing units. Other types of housing that are prevalent in Oakmont include large apartment complexes or high rise apartments ( 19.50%), row houses and other attached homes ( 13.39%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.77%).

The most prevalent building size and type in Oakmont are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 62.02% owning and 37.98% renting.

The housing in Oakmont was primarily built before 1939 ( 35.14%), making the housing stock in Oakmont some of the oldest overall in America, although there is a range of ages of homes in Oakmont. The next most important housing age is between 1940-1969 ( 32.89%), followed by between 1970-1999 ( 28.50%). There's also some housing in Oakmont built between 2000 and later ( 3.47%).

Oakmont Home Appreciation Rates

In the last 10 years, Oakmont has experienced some of the highest home appreciation rates of any community in the nation. Oakmont real estate appreciated 18.61% over the last ten years, which is an average annual home appreciation rate of 1.72%, putting Oakmont in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Oakmont definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Oakmont that despite a nationwide downturn in the housing market, Oakmont real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Oakmont appreciation rates continue to be some of the highest in America, at 6.22%, which is higher than appreciation rates in 75.92% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Oakmont. Oakmont appreciation rates in the latest quarter were at -0.41%, which equates to an annual appreciation rate of -1.65%.

Relative to Pennsylvania, our data show that Oakmont's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$192,078

Oakmont, PA HOME PRICES

Value Range
> $1,098,000 0.5
$824,001 - $1,098,000 1.6
$549,001 - $824,000 1.7
$439,001 - $549,000 3.0
$329,001 - $439,000 12.1
$220,001 - $329,000 21.6
$110,001 - $220,000 39.7
$55,001 - $110,000 12.8
$0 - $55,000 7.0

High for PA
High for Nation

Value Relative to Nation Value Relative to State
34.3021211766085 22.3188405797101

Number Of Homes And Apartments:
3,095

Oakmont Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
62.94% 2.87% 9 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,008 / per month

Homeownership Rate

Homeownership
Owners 62.02
Renters 37.98
Vacant 4.94

Housing Market Details

 

Age of Homes

AGE OF Oakmont HOMES
2000 or Newer 3.5
1970 - 1999 28.5
1940 - 1969 32.9
1939 or Older 35.1

Types of Homes

TYPE OF Oakmont HOMES
Single-Family 57.3
Townhomes 13.4
Small Apt. Buildings 9.8
Apt. Complexes 19.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Oakmont HOMES
No Bedroom 0.31
1 Bedroom 9.95
2 Bedrooms 36.46
3 Bedrooms 36.92
4 Bedrooms 12.22
5 or more bedrooms 4.15