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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 25,121, 10,246 total housing units (homes and apartments), and a median house value 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%).
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.
$427,539
for Michigan
for nation
10,246
$1,876 / per month