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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Okemos, MI 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 Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Okemos, MI Housing Market Trends

With 25,121 people, 10,246 houses or apartments, and a median cost of homes of $427,539, Okemos real estate is some of the most expensive in Michigan, although Okemos home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Okemos, accounting for 55.29% of the town's housing units. Other types of housing that are prevalent in Okemos include large apartment complexes or high rise apartments ( 37.47%), duplexes, homes converted to apartments or other small apartment buildings ( 3.67%), and a few row houses and other attached homes ( 3.35%).

The most prevalent building size and type in Okemos are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 55.93% owning and 44.07% renting.

There is a lot of housing in Okemos 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 Okemos built between 1940-1969 ( 22.23%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.06%). There's also some housing in Okemos built before 1939 ( 4.84%).

Okemos Home Appreciation Rates

Real estate appreciation rates in Okemos's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.40% during the period.

NeighborhoodScout's data show that during the latest twelve months, Okemos's appreciation rate, at 6.20%, has been at or slightly above the national average. In the latest quarter, Okemos's appreciation rate has been 0.71%, which annualizes to a rate of 2.85%.

Relative to Michigan, our data show that Okemos's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.

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

Average Home Values

Median Home Value

$427,539

Okemos, MI Home Prices
> $1,354,000
$1,016,001 - $1,354,000
$677,001 - $1,016,000
$542,001 - $677,000
$406,001 - $542,000
$271,001 - $406,000
$135,001 - $271,000
$68,001 - $135,000
$0 - $68,000
0.7%
0.7%
2.1%
2.1%
11.8%
11.8%
14.1%
14.1%
24.6%
24.6%
34.7%
34.7%
8.8%
8.8%
1.2%
1.2%
2.0%
2.0%
0% 100.0%
% of Homes
Very High

for Michigan

High

for nation

Number of Homes And Apartments:

10,246

Okemos Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,876 / per month

Homeownership Rate

Owners
Renters
55.9%
55.9%
44.1%
44.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.6%
7.6%
92.4%
92.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
22.1%
22.1%
50.9%
50.9%
22.2%
22.2%
4.8%
4.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
55.3%
55.3%
3.3%
3.3%
3.7%
3.7%
37.5%
37.5%
0.2%
0.2%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.1%
4.1%
10.7%
10.7%
23.5%
23.5%
28.3%
28.3%
25.9%
25.9%
7.5%
7.5%
0% 100.0%
% of Homes