There are currently 8,690 real estate properties in Red Oak, TX, with a median automated valuation model (AVM) price of $331,916.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Red Oak, TX, 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 Red Oak, TX, is $344,645.00, with the most expensive house in Red Oak, TX, topping out at $20,763,200.00 and the cheapest home in Red Oak, TX, clocking in at $13,023.00. In other words, there’s something for every potential homebuyer or savvy investor in Red Oak, TX!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Red Oak, TX, is on a rollercoaster ride. The average rent price in Red Oak, TX, is $1,608.00. Indeed, when looking to rent in Red Oak, TX, you can expect to pay as little as $630.00 or as much as $3,820.00, with the average rent median estimated to be $1,580.00. The good news is that finding an affordable and desirable property to rent in Red Oak, TX -- 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.
Red Oak is located in Ellis, Texas, with an estimated municipal population of 13,464 residents. All of the best foreclosed homes for sale in Red Oak are located in the following zip code areas on Foreclosure.com: 75154. The estimated population per square kilometer (.62 miles) in Red Oak is 334.
So, about how much do homes cost in Red Oak? The most recent median value of resident-owned homes in Red Oak is 212,533. An estimated 66.3 percent of households in Red Oak own their homes, with an average family size of 3.5. The median household income in Red Oak is 71,957, with33.9 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Red Oak, the median commute time of resident workers (in minutes) is 36.3. And last, but certainly not least, are you looking for homes to rent in Red Oak? If so, the average rent price paid by renters in Red Oak is 1,136, 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 Red Oak, 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 Red Oak is 34.3, split between 46.8 percent male versus 53.2 female. The percentage of residents who report being married in Red Oak is 54.1, with an average family size of 3.5.
The percentage of residents who report their race in Red Oak is as follows:
| White | 57.2% |
| Black / African American | 32.9% |
| Asian | 0.8% |
| American Indian / Alaskan Native | 0.2% |
| Native Hawaiian / Other Pacifc Islander | 0% |
| Multi-racial | 6.7% |
| Other | 2.3% |
Looking for family-friendly neighborhoods in and/or near Red Oak? Or maybe you are searching for 55+ active adult communities in and/or near Red Oak?
The percentage of residents who report their age in Red Oak is as follows:
| Under 10 | 16% |
| Aged 10-19 | 16.5% |
| 20s | 10.7% |
| 30s | 16.3% |
| 40s | 13.4% |
| 50s | 12.6% |
| 60s | 7.5% |
| 70s | 4.8% |
| 80+ | 2.2% |
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 Red Oak with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Red Oak.
How do you know that living in -- or moving to -- Red Oak is right where you need to be? Perhaps you grew up in Red Oak or already live nearby; therefore, the decision to buy a home in Red Oak is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Red Oak 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 Red Oak:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Red Oak.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Red Oak can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Red Oak, meanwhile, can field multiple offers from more qualified buyers.
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