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 | Lincoln County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $127,943 | $127,500 | $242,182 |
| Price Trend (Annual %) | 9.6% | 5.5% | 8.2% |
| Median Gross Rent | $760 | $979 | $1,342 |
| Rent Trend (Annual %) | 2.6% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lincoln County is about the same as in Oklahoma. Rent is about 22% 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 Lincoln County, up about 9.6% and 2.6% a year respectively. Home prices are changing faster.
Median rent in Lincoln County rose about 22.5% between 2015 and 2023, from $620 to $760. Over the same span, rent in Oklahoma rose about 34.7%.
Affordability
On average, housing unit costs 2.2 yearly household incomes in Lincoln County.
Buying the median-priced home in Lincoln 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 Lincoln County. The price-to-rent ratio in Oklahoma is about 10.9.
| Metric | Lincoln County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $127,943 | $127,500 | $242,182 |
| Median Household Income | $59,223 | $63,953 | $78,145 |
| Price-to-Income Ratio | 2.2 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Lincoln County rose about 115.6%, while median household income rose about 45.7% 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 | Lincoln County | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.7% | 57.6% | 58.2% |
| Rental Rate | 17.6% | 29.9% | 31.3% |
| Vacancy Rate | 10.6% | 12.5% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Lincoln County has a homeownership rate of 71.7%, higher than the Oklahoma average of 57.6%. Its housing vacancy rate is 10.6%, compared with 12.5% in Oklahoma.
Housing Stock
| Metric | Lincoln County | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.58 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1984 | 1980 | 1978 |
| Median Number of Rooms | 5.7 | 5.5 | 5.5 |
The typical housing unit in Lincoln County was built around 1984. On average, 2.6 people live in a home with about 5.7 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lincoln County, Oklahoma.
What is the median home price in Lincoln County, Oklahoma?
The median home price in Lincoln County, Oklahoma is $127,943, about the same as the Oklahoma average.
What is the average home price in Lincoln 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 Lincoln County, Oklahoma?
The median gross rent in Lincoln County, Oklahoma is $760 per month, lower than the Oklahoma average of $979.
What was the median gross rent in Lincoln County in 2020?
In 2020, the median gross rent in Lincoln County, Oklahoma was $624 per month.
What is the price-to-rent ratio in Lincoln County, Oklahoma?
The price-to-rent ratio in Lincoln 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 Lincoln County.
Are home prices or rent rising faster in Lincoln County, Oklahoma?
Both home prices and rent are rising in Lincoln County, up about 9.6% and 2.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lincoln County, Oklahoma?
71.7% of households in Lincoln County, Oklahoma own their home, higher than the Oklahoma average of 57.6%.
What is the vacancy rate in Lincoln County, Oklahoma?
The housing vacancy rate in Lincoln County, Oklahoma is 10.6%, lower than the Oklahoma average of 12.5%.