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 | Caddo County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $77,499 | $127,500 | $242,182 |
| Price Trend (Annual %) | 0.4% | 5.5% | 8.2% |
| Median Gross Rent | $715 | $979 | $1,342 |
| Rent Trend (Annual %) | 4.0% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Caddo County is about 39% lower than in Oklahoma. Rent is about 27% 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 Caddo County, up about 0.4% and 4.0% a year respectively. Rent is changing faster.
Median rent in Caddo County rose about 31.5% between 2015 and 2023, from $544 to $715. Over the same span, rent in Oklahoma rose about 34.7%.
Affordability
On average, housing unit costs 1.5 yearly household incomes in Caddo County.
Buying the median-priced home in Caddo County costs roughly 9.0 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 Caddo County. The price-to-rent ratio in Oklahoma is about 10.9.
| Metric | Caddo County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $77,499 | $127,500 | $242,182 |
| Median Household Income | $52,633 | $63,953 | $78,145 |
| Price-to-Income Ratio | 1.5 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Caddo County rose about 30.7%, while median household income rose about 43.0% 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 | Caddo County | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.3% | 57.6% | 58.2% |
| Rental Rate | 23.3% | 29.9% | 31.3% |
| Vacancy Rate | 21.3% | 12.5% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Caddo County has a homeownership rate of 55.3%, lower than the Oklahoma average of 57.6%. Its housing vacancy rate is 21.3%, compared with 12.5% in Oklahoma.
Housing Stock
| Metric | Caddo County | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.77 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1976 | 1980 | 1978 |
| Median Number of Rooms | 5.4 | 5.5 | 5.5 |
The typical housing unit in Caddo County was built around 1976. On average, 2.8 people live in a home with about 5.4 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Caddo County, Oklahoma.
What is the median home price in Caddo County, Oklahoma?
The median home price in Caddo County, Oklahoma is $77,499, lower than the Oklahoma average of $127,500.
What is the average home price in Caddo 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 Caddo County, Oklahoma?
The median gross rent in Caddo County, Oklahoma is $715 per month, lower than the Oklahoma average of $979.
What was the median gross rent in Caddo County in 2020?
In 2020, the median gross rent in Caddo County, Oklahoma was $593 per month.
What is the price-to-rent ratio in Caddo County, Oklahoma?
The price-to-rent ratio in Caddo County, Oklahoma is about 9.0, meaning it would take roughly 9.0 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 Caddo County.
Are home prices or rent rising faster in Caddo County, Oklahoma?
Both home prices and rent are rising in Caddo County, up about 0.4% and 4.0% a year respectively. Rent is changing faster.
What is the homeownership rate in Caddo County, Oklahoma?
55.3% of households in Caddo County, Oklahoma own their home, lower than the Oklahoma average of 57.6%.
What is the vacancy rate in Caddo County, Oklahoma?
The housing vacancy rate in Caddo County, Oklahoma is 21.3%, higher than the Oklahoma average of 12.5%.