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 8,959 people, 3,141 houses or apartments, and a median cost of homes of $198,201, house prices in Poteau are solidly below the national average.
Single-family detached homes are the single most common housing type in Poteau, accounting for 78.64% of the city's housing units. Other types of housing that are prevalent in Poteau include mobile homes or trailers ( 8.91%), large apartment complexes or high rise apartments ( 7.62%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.24%).
The most prevalent building size and type in Poteau are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.54% owning and 43.46% renting.
There is a lot of housing in Poteau 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 Poteau built between 1940-1969 ( 27.30%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.91%). There's also some housing in Poteau built before 1939 ( 8.29%).
Vacant housing appears to be an issue in Poteau. Fully 12.31% of the housing stock is classified as vacant. Left unchecked, vacant Poteau homes and apartments can be a drag on the real estate market, holding Poteau real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Poteau's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Poteau during the period has been just 5.58%, which is lower than 70% of US communities.
Over the last year, Poteau appreciation rates have trailed the rest of the nation. In the last twelve months, Poteau's appreciation rate has been 2.94%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Poteau were at 3.30%, which equates to an annual appreciation rate of 13.85%.
Importantly, this makes Poteau one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Oklahoma, our data show that Poteau's latest annual appreciation rate is lower than 80% of the other cities and towns in Oklahoma.
$198,201
for Oklahoma
for nation
3,141
$1,174 / per month