Oak Harbor, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Oak Harbor, WA 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

Oak Harbor Housing Market Information

With 22,693 people, 9,277 houses or apartments, and a median cost of homes of $272,504, Oak Harbor real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Oak Harbor, accounting for 51.33% of the city's housing units. Other types of housing that are prevalent in Oak Harbor include large apartment complexes or high rise apartments ( 19.43%), duplexes, homes converted to apartments or other small apartment buildings ( 14.98%), and a few row houses and other attached homes ( 7.37%).

The most prevalent building size and type in Oak Harbor are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 39.34% owning and 60.66% renting.

There is a lot of housing in Oak Harbor 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 Oak Harbor built between 2000 and later ( 23.47%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.98%). There's also some housing in Oak Harbor built before 1939 ( 1.59%).

Oak Harbor Home Appreciation Rates

Real estate appreciation rates in Oak Harbor's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.67% during the period.

Appreciation rates are so strong in Oak Harbor that despite a nationwide downturn in the housing market, Oak Harbor real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Oak Harbor appreciation rates continue to be some of the highest in America, at 11.26%, which is higher than appreciation rates in 96.43% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Oak Harbor. Oak Harbor appreciation rates in the latest quarter were at 1.50%, which equates to an annual appreciation rate of 6.14%.

Relative to Washington, our data show that Oak Harbor's latest annual appreciation rate is higher than 70% of the other cities and towns in Washington.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Oak Harbor differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Oak Harbor - 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 Oak Harbor real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$272,504

Oak Harbor, WA HOME PRICES

Value Range
> $1,255,000 1.4
$941,001 - $1,255,000 1.0
$627,001 - $941,000 1.8
$502,001 - $627,000 2.1
$376,001 - $502,000 7.8
$251,001 - $376,000 42.7
$126,001 - $251,000 37.0
$63,001 - $126,000 1.3
$0 - $63,000 4.9

Average for WA
Very High for Nation

Value Relative to Nation Value Relative to State
19.4714637290519 48.936170212766

Number Of Homes And Apartments:
9,277

Oak Harbor Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
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
60.01% 2.76% 3 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,259 / per month

Homeownership Rate

Homeownership
Owners 39.34
Renters 60.66
Vacant 6.90

Housing Market Details

 

Age of Homes

AGE OF Oak Harbor HOMES
2000 or Newer 23.5
1970 - 1999 58.0
1940 - 1969 17.0
1939 or Older 1.6

Types of Homes

TYPE OF Oak Harbor HOMES
Single-Family 51.3
Townhomes 7.4
Small Apt. Buildings 15.0
Apt. Complexes 19.4
Mobile Homes 6.9
Other 0.0

Home Size

SIZE OF Oak Harbor HOMES
No Bedroom 2.30
1 Bedroom 8.72
2 Bedrooms 30.85
3 Bedrooms 40.41
4 Bedrooms 15.31
5 or more bedrooms 2.41