Oklahoma City, Oklahoma Housing Market Prices
Oklahoma City Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 51% above the Oklahoma median$201,473
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Median rent 11% above the Oklahoma median$1,129
Housing Market Overview
| Metric | Oklahoma City | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $201,473 | $133,462 | $248,835 |
| Price Trend (Annual %) | 6.9% | 5.4% | 7.5% |
| Median Gross Rent | $1,129 | $1,014 | $1,407 |
| Rent Trend (Annual %) | 4.6% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Oklahoma City is about 51% higher than in Oklahoma. Rent is about 11% higher than the Oklahoma average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Oklahoma City, up about 6.9% and 4.6% a year respectively. Home prices are changing faster.
Median rent in Oklahoma City rose about 45.4% between 2015 and 2024, from $777 to $1,129. Over the same span, rent in Oklahoma rose about 39.6%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Oklahoma City.
Buying the median-priced home in Oklahoma City costs roughly 14.9 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 Oklahoma City. The price-to-rent ratio in Oklahoma is about 11.0.
| Metric | Oklahoma City | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $201,473 | $133,462 | $248,835 |
| Median Household Income | $69,088 | $65,606 | $80,455 |
| Price-to-Income Ratio | 2.9 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Oklahoma City rose about 109.5%, while median household income rose about 57.7% between 2009 and 2025 — 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 | Oklahoma City | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.7% | 57.9% | 58.5% |
| Rental Rate | 37.6% | 30.1% | 31.2% |
| Vacancy Rate | 8.6% | 12.0% | 10.2% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
Oklahoma City has a homeownership rate of 53.7%, lower than the Oklahoma average of 57.9%. Its housing vacancy rate is 8.6%, compared with 12.0% in Oklahoma.
Housing Stock
| Metric | Oklahoma City | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1983 | 1981 | 1978 |
| Median Number of Rooms | 5.4 | 5.5 | 5.5 |
The typical housing unit in Oklahoma City was built around 1983. On average, 2.5 people live in a home with about 5.4 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Oklahoma City, Oklahoma.
What is the median home price in Oklahoma City, Oklahoma?
The median home price in Oklahoma City, Oklahoma is $201,473, higher than the Oklahoma average of $133,462.
What is the average home price in Oklahoma City, Oklahoma?
The typical home price in Oklahoma City, Oklahoma, reported as the median sale price, is $201,473. 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 Oklahoma City, Oklahoma?
The median gross rent in Oklahoma City, Oklahoma is $1,129 per month, higher than the Oklahoma average of $1,014.
What was the median gross rent in Oklahoma City in 2020?
In 2020, the median gross rent in Oklahoma City, Oklahoma was $882 per month.
What is the price-to-rent ratio in Oklahoma City, Oklahoma?
The price-to-rent ratio in Oklahoma City, Oklahoma is about 14.9, meaning it would take roughly 14.9 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 Oklahoma City.
Are home prices or rent rising faster in Oklahoma City, Oklahoma?
Both home prices and rent are rising in Oklahoma City, up about 6.9% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Oklahoma City, Oklahoma?
53.7% of households in Oklahoma City, Oklahoma own their home, lower than the Oklahoma average of 57.9%.
What is the vacancy rate in Oklahoma City, Oklahoma?
The housing vacancy rate in Oklahoma City, Oklahoma is 8.6%, lower than the Oklahoma average of 12.0%.
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