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 57,950 people, 24,206 houses or apartments, and a median cost of homes of $172,603, house prices in Midwest City are solidly below the national average.
Single-family detached homes are the single most common housing type in Midwest City, accounting for 74.65% of the city's housing units. Other types of housing that are prevalent in Midwest City include large apartment complexes or high rise apartments ( 16.47%), duplexes, homes converted to apartments or other small apartment buildings ( 3.36%), and a few row houses and other attached homes ( 3.33%).
The most prevalent building size and type in Midwest City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.53% owning and 44.47% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Midwest City's housing was primarily built during this period, from the '40s through the '60s. A full 42.18% of the city's housing hails from this era. Other housing ages represented in Midwest City include homes built between 1970-1999 ( 39.77%) and housing constructed between 2000 and later ( 16.95%). There's also some housing in Midwest City built before 1939 ( 1.09%).
Real estate appreciation rates in Midwest City's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.26% during the period.
Over the last year, Midwest City appreciation rates have trailed the rest of the nation. In the last twelve months, Midwest City's appreciation rate has been 4.83%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Midwest City were at 1.78%, which equates to an annual appreciation rate of 7.32%.
Relative to Oklahoma, our data show that Midwest City's latest annual appreciation rate is lower than 70% of the other cities and towns in Oklahoma.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Midwest City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Midwest City - 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 Midwest City real estate investment or home purchase decisions.
$172,603
for Oklahoma
for nation
24,206
$1,488 / per month