OAK GROVE HOUSING MARKET INFORMATION With 7,973 people, 3,186 houses or apartments, and a median cost of homes of $198,036, house prices in Oak Grove are solidly below the national average. Single-family detached homes are the single most common housing type in Oak Grove, accounting for 70.33% of the city's housing units. Other types of housing that are prevalent in Oak Grove include mobile homes or trailers ( 11.18%), duplexes, homes converted to apartments or other small apartment buildings ( 11.13%), and a few large apartment complexes or high rise apartments ( 6.84%). The most prevalent building size and type in Oak Grove are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 42.62% owning and 57.38% renting. Oak Grove homes and real estate are some of the newest in America. 48.02% of Oak Grove'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 Oak Grove real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 43.60%), and between 1940-1969 ( 7.66%). Vacant housing appears to be an issue in Oak Grove. Fully 12.47% of the housing stock is classified as vacant. Left unchecked, vacant Oak Grove homes and apartments can be a drag on the real estate market, holding Oak Grove 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. OAK GROVE HOME APPRECIATION RATES Appreciation rates for homes in Oak Grove have been tracking above average for the last ten years, according to 蘑菇视频 data. The cumulative appreciation rate over the ten years has been 104.22%, which ranks in the top 40% nationwide. This equates to an annual average Oak Grove house appreciation rate of 7.40%. Over the last year, Oak Grove appreciation rates have trailed the rest of the nation. In the last twelve months, Oak Grove's appreciation rate has been 5.10%, which is lower than appreciation rates in most communities in America. In the latest quarter, 蘑菇视频's data show that house appreciation rates in Oak Grove were at 1.02%, which equates to an annual appreciation rate of 4.16%. Relative to Kentucky, our data show that Oak Grove's latest annual appreciation rate is lower than 90% of the other cities and towns in Kentucky.