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 11,725 people, 4,380 houses or apartments, and a median cost of homes of $393,907, Otis Orchards real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Otis Orchards, accounting for 79.71% of the town's housing units. Other types of housing that are prevalent in Otis Orchards include mobile homes or trailers ( 18.23%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Otis Orchards. Owner-occupied housing accounts for 92.71% of Otis Orchards's homes, and 69.49% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Otis Orchards 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 Otis Orchards built between 2000 and later ( 16.86%). A lesser amount of the housing stock also hails from between 1940-1969 ( 6.48%). There's also some housing in Otis Orchards built before 1939 ( 2.83%).
In the last 10 years, Otis Orchards has experienced some of the highest home appreciation rates of any community in the nation. Otis Orchards real estate appreciated 125.05% over the last ten years, which is an average annual home appreciation rate of 8.45%, putting Otis Orchards in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Otis Orchards definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Otis Orchards appreciation rates have trailed the rest of the nation. In the last twelve months, Otis Orchards's appreciation rate has been -1.60%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Otis Orchards were at 0.85%, which equates to an annual appreciation rate of 3.46%.
Relative to Washington, our data show that Otis Orchards's latest annual appreciation rate is lower than 80% of the other cities and towns in Washington.
$393,907
for Washington
for nation
4,380
$1,719 / per month