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 | Canadian County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $202,778 | $127,500 | $242,182 |
| Price Trend (Annual %) | 9.2% | 5.5% | 8.2% |
| Median Gross Rent | $1,208 | $979 | $1,342 |
| Rent Trend (Annual %) | 4.0% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Canadian County is about 59% higher than in Oklahoma. Rent is about 23% higher 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 Canadian County, up about 9.2% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Canadian County rose about 36.4% between 2015 and 2023, from $885 to $1,208. Over the same span, rent in Oklahoma rose about 34.7%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Canadian County.
Buying the median-priced home in Canadian County costs roughly 14.0 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 Canadian County. The price-to-rent ratio in Oklahoma is about 10.9.
| Metric | Canadian County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $202,778 | $127,500 | $242,182 |
| Median Household Income | $86,653 | $63,953 | $78,145 |
| Price-to-Income Ratio | 2.3 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Canadian County rose about 87.8%, while median household income rose about 46.6% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Canadian County | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.4% | 57.6% | 58.2% |
| Rental Rate | 23.8% | 29.9% | 31.3% |
| Vacancy Rate | 5.8% | 12.5% | 10.6% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Canadian County has a homeownership rate of 70.4%, higher than the Oklahoma average of 57.6%. Its housing vacancy rate is 5.8%, compared with 12.5% in Oklahoma.
Housing Stock
| Metric | Canadian County | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.79 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1989 | 1980 | 1978 |
| Median Number of Rooms | 5.8 | 5.5 | 5.5 |
The typical housing unit in Canadian County was built around 1989. On average, 2.8 people live in a home with about 5.8 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Canadian County, Oklahoma.
What is the median home price in Canadian County, Oklahoma?
The median home price in Canadian County, Oklahoma is $202,778, higher than the Oklahoma average of $127,500.
What is the average home price in Canadian 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 Canadian County, Oklahoma?
The median gross rent in Canadian County, Oklahoma is $1,208 per month, higher than the Oklahoma average of $979.
What was the median gross rent in Canadian County in 2020?
In 2020, the median gross rent in Canadian County, Oklahoma was $965 per month.
What is the price-to-rent ratio in Canadian County, Oklahoma?
The price-to-rent ratio in Canadian County, Oklahoma is about 14.0, meaning it would take roughly 14.0 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 Canadian County.
Are home prices or rent rising faster in Canadian County, Oklahoma?
Both home prices and rent are rising in Canadian County, up about 9.2% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Canadian County, Oklahoma?
70.4% of households in Canadian County, Oklahoma own their home, higher than the Oklahoma average of 57.6%.
What is the vacancy rate in Canadian County, Oklahoma?
The housing vacancy rate in Canadian County, Oklahoma is 5.8%, lower than the Oklahoma average of 12.5%.