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 | Le Flore County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $114,060 | $127,500 | $242,182 |
| Price Trend (Annual %) | 10.6% | 5.5% | 8.2% |
| Median Gross Rent | $773 | $979 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Le Flore County is about 11% lower than in Oklahoma. Rent is about 21% 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 Le Flore County, up about 10.6% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Le Flore County rose about 35.6% between 2015 and 2023, from $570 to $773. Over the same span, rent in Oklahoma rose about 34.7%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Le Flore County.
Buying the median-priced home in Le Flore County costs roughly 12.3 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 Le Flore County. The price-to-rent ratio in Oklahoma is about 10.9.
| Metric | Le Flore County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $114,060 | $127,500 | $242,182 |
| Median Household Income | $50,026 | $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 Le Flore County rose about 118.9%, while median household income rose about 40.2% 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 | Le Flore County | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.3% | 57.6% | 58.2% |
| Rental Rate | 23.5% | 29.9% | 31.3% |
| Vacancy Rate | 16.2% | 12.5% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Le Flore County has a homeownership rate of 60.3%, higher than the Oklahoma average of 57.6%. Its housing vacancy rate is 16.2%, compared with 12.5% in Oklahoma.
Housing Stock
| Metric | Le Flore County | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.65 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1984 | 1980 | 1978 |
| Median Number of Rooms | 5.4 | 5.5 | 5.5 |
The typical housing unit in Le Flore County was built around 1984. On average, 2.7 people live in a home with about 5.4 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Le Flore County, Oklahoma.
What is the median home price in Le Flore County, Oklahoma?
The median home price in Le Flore County, Oklahoma is $114,060, lower than the Oklahoma average of $127,500.
What is the average home price in Le Flore 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 Le Flore County, Oklahoma?
The median gross rent in Le Flore County, Oklahoma is $773 per month, lower than the Oklahoma average of $979.
What was the median gross rent in Le Flore County in 2020?
In 2020, the median gross rent in Le Flore County, Oklahoma was $661 per month.
What is the price-to-rent ratio in Le Flore County, Oklahoma?
The price-to-rent ratio in Le Flore County, Oklahoma is about 12.3, meaning it would take roughly 12.3 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 Le Flore County.
Are home prices or rent rising faster in Le Flore County, Oklahoma?
Both home prices and rent are rising in Le Flore County, up about 10.6% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Le Flore County, Oklahoma?
60.3% of households in Le Flore County, Oklahoma own their home, higher than the Oklahoma average of 57.6%.
What is the vacancy rate in Le Flore County, Oklahoma?
The housing vacancy rate in Le Flore County, Oklahoma is 16.2%, higher than the Oklahoma average of 12.5%.