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 | Love County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $204,166 | $127,500 | $242,182 |
| Price Trend (Annual %) | 22.4% | 5.5% | 8.2% |
| Median Gross Rent | $903 | $979 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Love County is about 60% higher than in Oklahoma. Rent is about 8% 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 Love County, up about 22.4% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Love County rose about 38.3% between 2015 and 2023, from $653 to $903. Over the same span, rent in Oklahoma rose about 34.7%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Love County.
Buying the median-priced home in Love County costs roughly 18.8 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Love County. The price-to-rent ratio in Oklahoma is about 10.9.
| Metric | Love County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $204,166 | $127,500 | $242,182 |
| Median Household Income | $63,489 | $63,953 | $78,145 |
| Price-to-Income Ratio | 3.2 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Love County rose about 252.9%, while median household income rose about 58.8% 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 | Love County | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.2% | 57.6% | 58.2% |
| Rental Rate | 21.6% | 29.9% | 31.3% |
| Vacancy Rate | 20.3% | 12.5% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Love County has a homeownership rate of 58.2%, higher than the Oklahoma average of 57.6%. Its housing vacancy rate is 20.3%, compared with 12.5% in Oklahoma.
Housing Stock
| Metric | Love County | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.68 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1985 | 1980 | 1978 |
| Median Number of Rooms | 5.2 | 5.5 | 5.5 |
The typical housing unit in Love County was built around 1985. On average, 2.7 people live in a home with about 5.2 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Love County, Oklahoma.
What is the median home price in Love County, Oklahoma?
The median home price in Love County, Oklahoma is $204,166, higher than the Oklahoma average of $127,500.
What is the average home price in Love 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 Love County, Oklahoma?
The median gross rent in Love County, Oklahoma is $903 per month, lower than the Oklahoma average of $979.
What was the median gross rent in Love County in 2020?
In 2020, the median gross rent in Love County, Oklahoma was $709 per month.
What is the price-to-rent ratio in Love County, Oklahoma?
The price-to-rent ratio in Love County, Oklahoma is about 18.8, meaning it would take roughly 18.8 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Love County.
Are home prices or rent rising faster in Love County, Oklahoma?
Both home prices and rent are rising in Love County, up about 22.4% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Love County, Oklahoma?
58.2% of households in Love County, Oklahoma own their home, higher than the Oklahoma average of 57.6%.
What is the vacancy rate in Love County, Oklahoma?
The housing vacancy rate in Love County, Oklahoma is 20.3%, higher than the Oklahoma average of 12.5%.