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STOCKTON HOUSING MARKET INFORMATION
With 1,886 people, 806 houses or apartments, and a median cost of homes of $120,253, house prices in Stockton are solidly below the national average.
Single-family detached homes are the single most common housing type in Stockton, accounting for 72.14% of the city’s housing units. Other types of housing that are prevalent in Stockton include large apartment complexes or high rise apartments ( 9.40%), mobile homes or trailers ( 8.10%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.70%).
The most prevalent building size and type in Stockton are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.88% owning and 47.12% renting.
There is a lot of housing in Stockton 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 Stockton built between 1940-1969 ( 19.65%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.79%). There’s also some housing in Stockton built before 1939 ( 11.88%).
Vacant housing appears to be an issue in Stockton. Fully 12.96% of the housing stock is classified as vacant. Left unchecked, vacant Stockton homes and apartments can be a drag on the real estate market, holding Stockton 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.
STOCKTON HOME APPRECIATION RATES
Appreciation rates for homes in Stockton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 14.91%, which ranks in the top 50% nationwide. This equates to an annual average Stockton house appreciation rate of 1.40%.
Appreciation rates are so strong in Stockton that despite a nationwide downturn in the housing market, Stockton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Stockton appreciation rates continue to be some of the highest in America, at 7.92%, which is higher than appreciation rates in 81.69% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Stockton. Stockton appreciation rates in the latest quarter were at 3.27%, which equates to an annual appreciation rate of 13.74%.
Importantly, this makes Stockton 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 Missouri, our data show that Stockton’s latest annual appreciation rate is higher than 50% of the other cities and towns in Missouri.
Information provided by: https://www.neighborhoodscout.com/mo/stockton/real-estate