There are currently 11,328 real estate properties in Ottumwa, IA, with a median automated valuation model (AVM) price of $102,731.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Ottumwa, IA, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Ottumwa, IA, is $134,738.00, with the most expensive house in Ottumwa, IA, topping out at $47,852,800.00 and the cheapest home in Ottumwa, IA, clocking in at $13,359.00. In other words, there’s something for every potential homebuyer or savvy investor in Ottumwa, IA!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Ottumwa, IA, is on a rollercoaster ride. The average rent price in Ottumwa, IA, is $1,037.00. Indeed, when looking to rent in Ottumwa, IA, you can expect to pay as little as $450.00 or as much as $2,000.00, with the average rent median estimated to be $1,000.00. The good news is that finding an affordable and desirable property to rent in Ottumwa, IA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Ottumwa is located in Wapello, Iowa, with an estimated municipal population of 24,368 residents. All of the best foreclosed homes for sale in Ottumwa are located in the following zip code areas on Foreclosure.com: 52501. The estimated population per square kilometer (.62 miles) in Ottumwa is 593.
So, about how much do homes cost in Ottumwa? The most recent median value of resident-owned homes in Ottumwa is 73,727. An estimated 66.7 percent of households in Ottumwa own their homes, with an average family size of 2.93. The median household income in Ottumwa is 41,722, with13.3 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Ottumwa, the median commute time of resident workers (in minutes) is 16. And last, but certainly not least, are you looking for homes to rent in Ottumwa? If so, the average rent price paid by renters in Ottumwa is 727, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Ottumwa, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Ottumwa is 37.3, split between 49.9 percent male versus 50.1 female. The percentage of residents who report being married in Ottumwa is 47.1, with an average family size of 2.93.
The percentage of residents who report their race in Ottumwa is as follows:
| White | 83.2% |
| Black / African American | 5% |
| Asian | 1.5% |
| American Indian / Alaskan Native | 0.1% |
| Native Hawaiian / Other Pacifc Islander | 0.7% |
| Multi-racial | 2.2% |
| Other | 7.3% |
Looking for family-friendly neighborhoods in and/or near Ottumwa? Or maybe you are searching for 55+ active adult communities in and/or near Ottumwa?
The percentage of residents who report their age in Ottumwa is as follows:
| Under 10 | 12.9% |
| Aged 10-19 | 13.3% |
| 20s | 14.1% |
| 30s | 13.2% |
| 40s | 11.3% |
| 50s | 12.6% |
| 60s | 11% |
| 70s | 6.9% |
| 80+ | 4.5% |
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Ottumwa with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Ottumwa.
How do you know that living in -- or moving to -- Ottumwa is right where you need to be? Perhaps you grew up in Ottumwa or already live nearby; therefore, the decision to buy a home in Ottumwa is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Ottumwa for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Ottumwa:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Ottumwa.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Ottumwa can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Ottumwa, meanwhile, can field multiple offers from more qualified buyers.
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