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 a population of 1,993, 743 total housing units (homes and apartments), and a median house value of $125,567, house prices in Chelsea are some of the most affordable in Oklahoma as well as the nation.
Single-family detached homes are the single most common housing type in Chelsea, accounting for 74.55% of the town's housing units. Other types of housing that are prevalent in Chelsea include mobile homes or trailers ( 16.58%), duplexes, homes converted to apartments or other small apartment buildings ( 4.54%), and a few large apartment complexes or high rise apartments ( 3.17%).
The most prevalent building size and type in Chelsea are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 58.41% owning and 41.59% renting.
There is a lot of housing in Chelsea 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 Chelsea built between 1940-1969 ( 32.10%). A lesser amount of the housing stock also hails from before 1939 ( 13.52%). There's also some housing in Chelsea built between 2000 and later ( 12.25%).
Vacant housing appears to be an issue in Chelsea. Fully 21.54% of the housing stock is classified as vacant. Left unchecked, vacant Chelsea homes and apartments can be a drag on the real estate market, holding Chelsea 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.
Real estate appreciation rates in Chelsea's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.09% during the period.
Over the last year, Chelsea appreciation rates have trailed the rest of the nation. In the last twelve months, Chelsea's appreciation rate has been 3.81%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Chelsea were at 0.66%, which equates to an annual appreciation rate of 2.67%.
Relative to Oklahoma, our data show that Chelsea's latest annual appreciation rate is lower than 80% of the other cities and towns in Oklahoma.
$125,567
for Oklahoma
for nation
743
$1,131 / per month