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 | Mayes County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $180,769 | $127,500 | $242,182 |
| Price Trend (Annual %) | 17.3% | 5.5% | 8.2% |
| Median Gross Rent | $845 | $979 | $1,342 |
| Rent Trend (Annual %) | 3.6% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mayes County is about 42% higher than in Oklahoma. Rent is about 14% 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 Mayes County, up about 17.3% and 3.6% a year respectively. Home prices are changing faster.
Median rent in Mayes County rose about 34.5% between 2015 and 2023, from $628 to $845. Over the same span, rent in Oklahoma rose about 34.7%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Mayes County.
Buying the median-priced home in Mayes County costs roughly 17.8 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 Mayes County. The price-to-rent ratio in Oklahoma is about 10.9.
| Metric | Mayes County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $180,769 | $127,500 | $242,182 |
| Median Household Income | $57,259 | $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 Mayes County rose about 139.3%, while median household income rose about 45.4% 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 | Mayes County | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.7% | 57.6% | 58.2% |
| Rental Rate | 21.4% | 29.9% | 31.3% |
| Vacancy Rate | 16.9% | 12.5% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Mayes County has a homeownership rate of 61.7%, higher than the Oklahoma average of 57.6%. Its housing vacancy rate is 16.9%, compared with 12.5% in Oklahoma.
Housing Stock
| Metric | Mayes County | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.55 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1983 | 1980 | 1978 |
| Median Number of Rooms | 5.6 | 5.5 | 5.5 |
The typical housing unit in Mayes County was built around 1983. On average, 2.6 people live in a home with about 5.6 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Mayes County, Oklahoma.
What is the median home price in Mayes County, Oklahoma?
The median home price in Mayes County, Oklahoma is $180,769, higher than the Oklahoma average of $127,500.
What is the average home price in Mayes 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 Mayes County, Oklahoma?
The median gross rent in Mayes County, Oklahoma is $845 per month, lower than the Oklahoma average of $979.
What was the median gross rent in Mayes County in 2020?
In 2020, the median gross rent in Mayes County, Oklahoma was $734 per month.
What is the price-to-rent ratio in Mayes County, Oklahoma?
The price-to-rent ratio in Mayes County, Oklahoma is about 17.8, meaning it would take roughly 17.8 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 Mayes County.
Are home prices or rent rising faster in Mayes County, Oklahoma?
Both home prices and rent are rising in Mayes County, up about 17.3% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Mayes County, Oklahoma?
61.7% of households in Mayes County, Oklahoma own their home, higher than the Oklahoma average of 57.6%.
What is the vacancy rate in Mayes County, Oklahoma?
The housing vacancy rate in Mayes County, Oklahoma is 16.9%, higher than the Oklahoma average of 12.5%.