Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Beckham County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $100,325 | $127,500 | $242,182 |
| Price Trend (Annual %) | 2.9% | 5.5% | 8.2% |
| Median Gross Rent | $821 | $979 | $1,342 |
| Rent Trend (Annual %) | 1.9% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Beckham County is about 21% lower than in Oklahoma. Rent is about 16% lower than the Oklahoma average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Beckham County, up about 2.9% and 1.9% a year respectively. Home prices are changing faster.
Median rent in Beckham County rose about 17.0% between 2015 and 2023, from $702 to $821. Over the same span, rent in Oklahoma rose about 34.7%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Beckham County.
Buying the median-priced home in Beckham County costs roughly 10.2 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Beckham County. The price-to-rent ratio in Oklahoma is about 10.9.
| Metric | Beckham County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $100,325 | $127,500 | $242,182 |
| Median Household Income | $53,700 | $63,953 | $78,145 |
| Price-to-Income Ratio | 1.9 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Beckham County rose about 6.1%, while median household income rose about 29.0% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Beckham County | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.7% | 57.6% | 58.2% |
| Rental Rate | 27.2% | 29.9% | 31.3% |
| Vacancy Rate | 19.1% | 12.5% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Beckham County has a homeownership rate of 53.7%, lower than the Oklahoma average of 57.6%. Its housing vacancy rate is 19.1%, compared with 12.5% in Oklahoma.
Housing Stock
| Metric | Beckham County | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.30 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1979 | 1980 | 1978 |
| Median Number of Rooms | 5.2 | 5.5 | 5.5 |
The typical housing unit in Beckham County was built around 1979. On average, 2.3 people live in a home with about 5.2 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Beckham County, Oklahoma.
What is the median home price in Beckham County, Oklahoma?
The median home price in Beckham County, Oklahoma is $100,325, lower than the Oklahoma average of $127,500.
What is the average home price in Beckham County, Oklahoma?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Beckham County, Oklahoma?
The median gross rent in Beckham County, Oklahoma is $821 per month, lower than the Oklahoma average of $979.
What was the median gross rent in Beckham County in 2020?
In 2020, the median gross rent in Beckham County, Oklahoma was $748 per month.
What is the price-to-rent ratio in Beckham County, Oklahoma?
The price-to-rent ratio in Beckham County, Oklahoma is about 10.2, meaning it would take roughly 10.2 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Beckham County.
Are home prices or rent rising faster in Beckham County, Oklahoma?
Both home prices and rent are rising in Beckham County, up about 2.9% and 1.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Beckham County, Oklahoma?
53.7% of households in Beckham County, Oklahoma own their home, lower than the Oklahoma average of 57.6%.
What is the vacancy rate in Beckham County, Oklahoma?
The housing vacancy rate in Beckham County, Oklahoma is 19.1%, higher than the Oklahoma average of 12.5%.