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 | Greer County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $99,161 | $127,500 | $242,182 |
| Price Trend (Annual %) | 10.9% | 5.5% | 8.2% |
| Median Gross Rent | $624 | $979 | $1,342 |
| Rent Trend (Annual %) | 1.1% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Greer County is about 22% lower than in Oklahoma. Rent is about 36% 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 Greer County, up about 10.9% and 1.1% a year respectively. Home prices are changing faster.
Median rent in Greer County fell about 6.0% between 2015 and 2023, from $663 to $624. Over the same span, rent in Oklahoma rose about 34.7%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Greer County.
Buying the median-priced home in Greer County costs roughly 13.2 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 Greer County. The price-to-rent ratio in Oklahoma is about 10.9.
| Metric | Greer County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $99,161 | $127,500 | $242,182 |
| Median Household Income | $60,168 | $63,953 | $78,145 |
| Price-to-Income Ratio | 1.6 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Greer County rose about 67.4%, while median household income rose about 72.4% 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 | Greer County | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.4% | 57.6% | 58.2% |
| Rental Rate | 17.3% | 29.9% | 31.3% |
| Vacancy Rate | 22.3% | 12.5% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Greer County has a homeownership rate of 60.4%, higher than the Oklahoma average of 57.6%. Its housing vacancy rate is 22.3%, compared with 12.5% in Oklahoma.
Housing Stock
| Metric | Greer County | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.24 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1968 | 1980 | 1978 |
| Median Number of Rooms | 5.8 | 5.5 | 5.5 |
The typical housing unit in Greer County was built around 1968. On average, 2.2 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Greer County, Oklahoma.
What is the median home price in Greer County, Oklahoma?
The median home price in Greer County, Oklahoma is $99,161, lower than the Oklahoma average of $127,500.
What is the average home price in Greer 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 Greer County, Oklahoma?
The median gross rent in Greer County, Oklahoma is $624 per month, lower than the Oklahoma average of $979.
What was the median gross rent in Greer County in 2020?
In 2020, the median gross rent in Greer County, Oklahoma was $582 per month.
What is the price-to-rent ratio in Greer County, Oklahoma?
The price-to-rent ratio in Greer County, Oklahoma is about 13.2, meaning it would take roughly 13.2 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 Greer County.
Are home prices or rent rising faster in Greer County, Oklahoma?
Both home prices and rent are rising in Greer County, up about 10.9% and 1.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Greer County, Oklahoma?
60.4% of households in Greer County, Oklahoma own their home, higher than the Oklahoma average of 57.6%.
What is the vacancy rate in Greer County, Oklahoma?
The housing vacancy rate in Greer County, Oklahoma is 22.3%, higher than the Oklahoma average of 12.5%.