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OLATHE HOUSING MARKET INFORMATION
With 137,472 people, 46,526 houses or apartments, and a median cost of homes of $252,804, Olathe real estate is some of the most expensive in Kansas, although Olathe home values aren’t among America’s most expensive.
Single-family detached homes are the single most common housing type in Olathe, accounting for 69.53% of the city’s housing units. Other types of housing that are prevalent in Olathe include large apartment complexes or high rise apartments ( 15.09%), row houses and other attached homes ( 11.00%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.39%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Olathe. Owner-occupied housing accounts for 70.67% of Olathe’s homes, and 69.64% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Olathe 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 Olathe built between 2000 and later ( 28.39%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.33%). There’s also some housing in Olathe built before 1939 ( 2.44%).
OLATHE HOME APPRECIATION RATES
Appreciation rates for homes in Olathe have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 28.96%, which ranks in the top 30% nationwide. This equates to an annual average Olathe house appreciation rate of 2.58%.
Appreciation rates are so strong in Olathe that despite a nationwide downturn in the housing market, Olathe real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Olathe appreciation rates continue to be some of the highest in America, at 7.05%, which is higher than appreciation rates in 75.65% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Olathe. Olathe appreciation rates in the latest quarter were at 1.69%, which equates to an annual appreciation rate of 6.92%.
Importantly, this makes Olathe 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 Kansas, our data show that Olathe’s latest annual appreciation rate is higher than 80% of the other cities and towns in Kansas.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Olathe differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Olathe – 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 Olathe real estate investment or home purchase decisions.
Information provided by: https://www.neighborhoodscout.com/ks/olathe/real-estate