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 3,807 people, 1,559 houses or apartments, and a median cost of homes of $194,257, house prices in Oneida are solidly below the national average.
Single-family detached homes are the single most common housing type in Oneida, accounting for 58.70% of the town's housing units. Other types of housing that are prevalent in Oneida include large apartment complexes or high rise apartments ( 21.14%), mobile homes or trailers ( 12.85%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.30%).
The most prevalent building size and type in Oneida are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 55.58% owning and 44.42% renting.
There is a lot of housing in Oneida 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 Oneida built between 2000 and later ( 16.20%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.38%). There's also some housing in Oneida built before 1939 ( 12.52%).
Vacant housing appears to be an issue in Oneida. Fully 14.39% of the housing stock is classified as vacant. Left unchecked, vacant Oneida homes and apartments can be a drag on the real estate market, holding Oneida 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.
In the last 10 years, Oneida has experienced some of the highest home appreciation rates of any community in the nation. Oneida real estate appreciated 139.89% over the last ten years, which is an average annual home appreciation rate of 9.14%, putting Oneida in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Oneida definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Oneida's appreciation rate, at 5.92%, has been at or slightly above the national average. In the latest quarter, Oneida's appreciation rate has been 2.75%, which annualizes to a rate of 11.45%.
Relative to Tennessee, our data show that Oneida's latest annual appreciation rate is lower than 50% of the other cities and towns in Tennessee.
$194,257
for Tennessee
for nation
1,559
$1,171 / per month