Red Oak, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Red Oak, TX 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

Red Oak Housing Market Information

With a population of 12,022, 3,726 total housing units (homes and apartments), and a median house value of $126,695, house prices in Red Oak are solidly below the national average.

Single-family detached homes are the single most common housing type in Red Oak, accounting for 75.84% of the city's housing units. Other types of housing that are prevalent in Red Oak include large apartment complexes or high rise apartments ( 13.99%), duplexes, homes converted to apartments or other small apartment buildings ( 6.89%), and a few mobile homes or trailers ( 2.60%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Red Oak. Owner-occupied housing accounts for 67.94% of Red Oak's homes, and 63.87% have either three or four bedrooms, which is average sized relative to America.

Red Oak homes and real estate are some of the newest in America. 49.34% of Red Oak'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 Red Oak real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 40.55%), and before 1939 ( 5.26%). There's also some housing in Red Oak built between 1940-1969 ( 4.85%).

Red Oak Home Appreciation Rates

In the last 10 years, Red Oak has experienced some of the highest home appreciation rates of any community in the nation. Red Oak real estate appreciated 20.36% over the last ten years, which is an average annual home appreciation rate of 1.87%, putting Red Oak in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Red Oak 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 Red Oak that despite a nationwide downturn in the housing market, Red Oak real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Red Oak appreciation rates continue to be some of the highest in America, at 11.75%, which is higher than appreciation rates in 97.14% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Red Oak. Red Oak appreciation rates in the latest quarter were at 2.35%, which equates to an annual appreciation rate of 9.75%.

Importantly, this makes Red Oak 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 Texas, our data show that Red Oak's latest annual appreciation rate is higher than 90% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$126,695

Red Oak, TX HOME PRICES

Value Range
> $1,292,000 0.3
$969,001 - $1,292,000 0.0
$646,001 - $969,000 0.1
$517,001 - $646,000 0.8
$387,001 - $517,000 2.4
$259,001 - $387,000 11.0
$129,001 - $259,000 58.1
$65,001 - $129,000 16.1
$0 - $65,000 11.3

Average for TX
Low for Nation

Value Relative to Nation Value Relative to State
61.5932262979023 45.4280155642023

Number Of Homes And Apartments:
3,726

Red Oak Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
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
48.31% 2.31% 2 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,188 / per month

Homeownership Rate

Homeownership
Owners 67.94
Renters 32.06
Vacant 4.85

Housing Market Details

 

Age of Homes

AGE OF Red Oak HOMES
2000 or Newer 49.3
1970 - 1999 40.6
1940 - 1969 4.9
1939 or Older 5.3

Types of Homes

TYPE OF Red Oak HOMES
Single-Family 75.8
Townhomes 0.7
Small Apt. Buildings 6.9
Apt. Complexes 14.0
Mobile Homes 2.6
Other 0.0

Home Size

SIZE OF Red Oak HOMES
No Bedroom 0.59
1 Bedroom 11.75
2 Bedrooms 16.78
3 Bedrooms 44.94
4 Bedrooms 18.92
5 or more bedrooms 7.02

Popular Neighborhoods in Red Oak

Zip Codes in Red Oak, TX