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 17,396, 4,655 total housing units (homes and apartments), and a median house value of $365,509, Red Oak real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Red Oak, accounting for 81.72% of the city's housing units. Other types of housing that are prevalent in Red Oak include large apartment complexes or high rise apartments ( 10.22%), duplexes, homes converted to apartments or other small apartment buildings ( 4.07%), and a few row houses and other attached homes ( 3.69%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Red Oak. Owner-occupied housing accounts for 77.44% of Red Oak's homes, and 71.48% have either three or four bedrooms, which is average sized relative to America.
Red Oak homes and real estate are some of the newest in America. 60.28% of Red Oak's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Red Oak real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 32.73%), and between 1940-1969 ( 5.69%). There's also some housing in Red Oak built before 1939 ( 1.30%).
In the last 10 years, Red Oak has experienced some of the highest home appreciation rates of any community in the nation. Red Oak real estate appreciated 140.59% over the last ten years, which is an average annual home appreciation rate of 9.18%, putting Red Oak in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Red Oak 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, Red Oak appreciation rates have trailed the rest of the nation. In the last twelve months, Red Oak's appreciation rate has been 2.26%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Red Oak were at 1.89%, which equates to an annual appreciation rate of 7.76%.
Relative to Texas, our data show that Red Oak's latest annual appreciation rate is lower than 70% of the other cities and towns in Texas.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Red Oak differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Red Oak - 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 Red Oak real estate investment or home purchase decisions.
$365,509
for Texas
for nation
4,655
$2,119 / per month