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 2,131 people, 835 houses or apartments, and a median cost of homes of $134,529, house prices in Spiro are solidly below the national average.
Single-family detached homes are the single most common housing type in Spiro, accounting for 68.89% of the town's housing units. Other types of housing that are prevalent in Spiro include mobile homes or trailers ( 15.45%), duplexes, homes converted to apartments or other small apartment buildings ( 11.31%), and a few large apartment complexes or high rise apartments ( 3.74%).
The most prevalent building size and type in Spiro are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 50.40% owning and 49.60% renting.
There is a lot of housing in Spiro 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 Spiro built between 2000 and later ( 28.99%). A lesser amount of the housing stock also hails from between 1940-1969 ( 25.35%). There's also some housing in Spiro built before 1939 ( 5.76%).
Vacant housing appears to be an issue in Spiro. Fully 15.66% of the housing stock is classified as vacant. Left unchecked, vacant Spiro homes and apartments can be a drag on the real estate market, holding Spiro 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.
Spiro's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Spiro during the period has been just 5.44%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Spiro's appreciation rate, at 7.65%, has been at or slightly above the national average. In the latest quarter, Spiro's appreciation rate has been 3.65%, which annualizes to a rate of 15.41%.
Relative to Oklahoma, our data show that Spiro's latest annual appreciation rate is lower than 50% of the other cities and towns in Oklahoma.
$134,529
for Oklahoma
for nation
835
$1,146 / per month