Oklahoma Housing Market: Home Prices, Rent and Affordability
The typical Oklahoma home is worth $223,261, up 2.8% over the past year and up 26.5% over five years, 39.4% below the national $368,697 (Zillow, latest release). That ranks #47 of 50 on price. A 20%-down mortgage runs $1,149 a month and takes about $65,093 of income; the median Oklahoma household earns $60,528, $4,565 short.
In Oklahoma City, the state's largest metro, typical rent is $1,388 a month against a $1,262 principal-and-interest payment on the typical home, so buying is $126 a month cheaper before taxes, insurance and maintenance. The market is cold: 26.7% of listings cut their price (national 26.4%), homes go pending in 66 days (national 53), and for-sale inventory is up 4.6% from a year ago.
All figures are Zillow Research's published numbers for August; median household income is from the Census Bureau. How the data works → · Home prices in all 50 states →
Oklahoma Housing by the Numbers
How much does a house cost in Oklahoma? The typical home is worth $223,261, the median sale price is $245,500 and the median list price $293,000. The six figures below describe the market this month, each with the national comparison.
How Have Oklahoma Home Prices Changed?
The typical Oklahoma home value every month since 2000, with the national typical home as a dashed line. Values rose 2.8% over the past year, are up 26.5% over five years, up 73.1% over ten, and up 164% since January 2000.
Is It Cheaper to Rent or Buy in Oklahoma?
Two direct answers from the Zillow data. Rent versus buy sets typical asking rent in Oklahoma City, the state's largest metro, against the mortgage payment on the typical home there, since Zillow publishes rents by metro rather than by state. The affordability gap is the income needed to buy the typical Oklahoma home minus what the median household actually earns.
Rent vs. buy · Oklahoma City, OK
The payment excludes property tax (0.85% of value in Oklahoma), insurance and maintenance, all of which push the cost of owning higher; renting builds no equity. If values kept rising at the past five years' pace (26.5%), equity would narrow that gap over a long stay.
Affordability gap · #8 of 50
A $1,149 monthly payment takes 22.8% of the median Oklahoma household's income before property tax and insurance; lenders generally cap total housing costs near 28–31%. Full budget for your household →
Is Oklahoma a Buyer's or a Seller's Market?
Market temperature is our label from three Zillow signals compared with the national market: the share of listings with a price cut, days from listing to pending (days on market), and whether homes for sale are up from a year ago. Oklahoma is cold: it buyers hold the leverage: more price cuts, slower sales and rising inventory compared with the national market.
Median sale price $245,500 against a median list price of $293,000, so the typical home closes 16.2% below asking.
Where the Oklahoma market is heading
Compared with a year ago, all three signals point looser, in buyers' favor: the share of listings with a price cut is up 0.4 points from a year ago to 26.7%, homes take 8 days longer to go pending than a year ago (66 now), and the number of homes for sale is up 4.6%. The typical home value rose 2.8% over the same period and is at an all-time high. We publish no forecasts: these are Zillow's current-month readings, not a prediction of where Oklahoma home prices go next.
Home Values and Rents in Oklahoma Cities
Zillow publishes a city-level home value or rent for 20 of the Oklahoma cities we track. The most expensive is Edmond ($355,447) and the cheapest Enid ($136,865). Click a city for its full profile.
| City | Population | Home value | 1 yr | 5 yr | Rent | Rent 1 yr | Value ÷ income |
|---|---|---|---|---|---|---|---|
| Oklahoma City | 702,654 | $207,421 | +0.2% | ||||
| Tulsa | 410,915 | $220,221 | +3.1% | ||||
| Norman | 130,052 | $263,046 | +0.9% | ||||
| Broken Arrow | 119,666 | $288,709 | +2.2% | ||||
| Edmond | 98,113 | $355,447 | +0.8% | ||||
| Lawton | 90,226 | $146,805 | +6.5% | ||||
| Moore | 63,045 | $222,111 | +0.3% | ||||
| Midwest City | 58,170 | $170,640 | +0.7% | ||||
| Enid | 50,821 | $136,865 | +3.1% | ||||
| Stillwater | 48,818 | $269,266 | +4.7% | ||||
| Owasso | 39,013 | $319,339 | +2.1% | ||||
| Bartlesville | 37,559 | $189,391 | +5.3% | ||||
| Muskogee | 36,819 | $144,901 | +3.8% | ||||
| Shawnee | 31,511 | $179,174 | +2.5% | ||||
| Bixby | 29,402 | $333,727 | +1.7% | ||||
| Jenks | 26,519 | $355,103 | +3.1% | ||||
| Yukon | 24,802 | $273,039 | +1.1% | ||||
| Ardmore | 24,757 | $157,231 | -0.4% | ||||
| Ponca City | 24,377 | $138,580 | +6.2% | ||||
| Duncan | 22,872 | $137,240 | +3.8% |
Home value and rent are Zillow's city-level indexes; population and median household income are Census ACS. Cities without a Zillow index are omitted. All Oklahoma cities ranked →
How Oklahoma Compares With Nearby States
The South states closest to Oklahoma on price. Each card links to that state's housing page; the compare link puts the two states side by side on every category.
More on Oklahoma
Oklahoma dashboard
→Overall rank and grade, every category score, taxes, utilities, safety, schools and all tracked cities.
What you'd keep in Oklahoma
→Take-home after housing, taxes, childcare, utilities and groceries for your household and income.
Who is moving to Oklahoma
→IRS migration data: where new residents come from, where leavers go, and what both groups earn.
Oklahoma Housing Market FAQ
What is the average house price in Oklahoma?
$223,261 is the typical Oklahoma home value according to the latest Zillow Research release of the Zillow Home Value Index, which tracks homes in the middle third of the market. The median sale price was $245,500 and the median list price $293,000. That makes Oklahoma the #47 most expensive state; the national typical home is worth $368,697.
Are home prices dropping in Oklahoma?
No. The typical Oklahoma home value rose 2.8% over the past year and is at an all-time high. Over five years it is up 26.5% and over ten years up 73.1%. Nationally, values rose 1.2% over the year.
How have Oklahoma home prices changed over the past 1, 5 and 10 years?
+2.8% over one year, +26.5% over five years and +73.1% over ten years for the typical Oklahoma home value, per the latest Zillow Research release; the national figures are +1.2%, +20.3% and +77.9%. Since January 2000 the typical Oklahoma home is up 164%. The monthly chart above shows the full series against the national line.
Will the Oklahoma housing market crash?
We publish no forecasts, so this page cannot answer that; it can show the current readings and the historical worst case. Right now the typical Oklahoma home value is at an all-time high after it rose 2.8% over the past year; 26.7% of listings have cut their price (national 26.4%), homes go pending in 66 days (national 53), and inventory is up 4.6% from a year ago, per Zillow Research. The largest decline in Zillow's monthly series for Oklahoma was 4.0% from June 2010 to February 2012, and values took 20 months to regain that peak.
Is it a good time to buy a house in Oklahoma?
The Oklahoma market is cold right now, which means it buyers hold the leverage: more price cuts, slower sales and rising inventory compared with the national market. 26.7% of listings cut their price (national 26.4%), homes go pending in 66 days (national 53), and for-sale inventory is up 4.6% from a year ago. Affordability is the constraint: buying the typical home takes $65,093 of income, $4,565 more than the median household earns. Whether the timing is right also depends on mortgage rates and how long you plan to stay.
Is Oklahoma a buyer's or seller's market?
Oklahoma leans toward buyers. More listings are cutting prices than the national average (26.7% vs. 26.4%), homes take 66 days to go pending (national 53), and the number of homes for sale is up 4.6% from a year ago at 22K listings. Three of those three signals point toward buyers.
What is the average rent in Oklahoma?
In Oklahoma City, Oklahoma's largest metro, the typical asking rent is $1,388 a month, up 2.3% over the past year and up 20.3% over five years, per the Zillow Observed Rent Index. The national typical rent is $1,948. Among Oklahoma cities we track, rents range from $720 to $1,951 a month.
Is it cheaper to rent or buy in Oklahoma?
Buying is cheaper month to month in Oklahoma City, Oklahoma's largest metro. Typical rent is $1,388 and the principal-and-interest payment on the typical home with 20% down is $1,262, a difference of $126 a month in favor of buying. The payment excludes property tax (0.85% of value in Oklahoma), insurance and maintenance, and renting builds no equity, so the full answer depends on how long you stay.
How much income do you need to buy a house in Oklahoma?
About $65,093 a year, using Zillow's assumptions of 20% down at current mortgage rates and a payment of no more than 30% of income. The median Oklahoma household earns $60,528, so the typical household is $4,565 short. That is the #8 smallest affordability gap of the 50 states. The monthly payment of $1,149 equals 22.8% of the median household's income.
Where are homes cheapest and most expensive in Oklahoma?
Among the Oklahoma cities we track with Zillow data, the most expensive typical home is in Edmond ($355,447) and the cheapest in Enid ($136,865). Also at the top: Jenks ($355,103), Bixby ($333,727), and Owasso ($319,339). The city table above lists every tracked Oklahoma city with its value, one-year change and rent.
How does Oklahoma compare with nearby states?
In the South, the closest comparisons on price are Arkansas ($227,264, up 3.6% in a year), Louisiana ($217,039, up 2.1% in a year), and Kentucky ($232,577, down 0.4% in a year). Oklahoma's typical home is $223,261, up 2.8%. On affordability, Oklahoma ranks #8 of 50 versus Arkansas at #10, Louisiana at #17, and Kentucky at #3.
How current is the Oklahoma housing data?
Every figure on this page comes from Zillow Research, which publishes state, metro and city data free each month for the prior month; the latest month shown is August. Median household income is from the Census Bureau's American Community Survey. We rebuild the page from the newest Zillow files as they are released.
Home values, rents, mortgage payments, income needed, inventory, price cuts, days to pending and sale and list prices are published by Zillow Research and shown as released, with attribution. Median household income and city populations are from the Census Bureau's American Community Survey. Home prices and housing markets in all 50 states →