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 | Oklahoma County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $200,911 | $127,500 | $242,182 |
| Price Trend (Annual %) | 8.1% | 5.5% | 8.2% |
| Median Gross Rent | $1,073 | $979 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Oklahoma County is about 58% higher than in Oklahoma. Rent is about 10% higher 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 Oklahoma County, up about 8.1% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Oklahoma County rose about 37.7% between 2015 and 2023, from $779 to $1,073. Over the same span, rent in Oklahoma rose about 34.7%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Oklahoma County.
Buying the median-priced home in Oklahoma County costs roughly 15.6 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 Oklahoma County. The price-to-rent ratio in Oklahoma is about 10.9.
| Metric | Oklahoma County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $200,911 | $127,500 | $242,182 |
| Median Household Income | $65,670 | $63,953 | $78,145 |
| Price-to-Income Ratio | 3.1 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Oklahoma County rose about 103.5%, while median household income rose about 56.6% 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 | Oklahoma County | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.0% | 57.6% | 58.2% |
| Rental Rate | 37.5% | 29.9% | 31.3% |
| Vacancy Rate | 9.5% | 12.5% | 10.6% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Oklahoma County has a homeownership rate of 53.0%, lower than the Oklahoma average of 57.6%. Its housing vacancy rate is 9.5%, compared with 12.5% in Oklahoma.
Housing Stock
| Metric | Oklahoma County | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.43 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1979 | 1980 | 1978 |
| Median Number of Rooms | 5.4 | 5.5 | 5.5 |
The typical housing unit in Oklahoma County was built around 1979. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Oklahoma County, Oklahoma.
What is the median home price in Oklahoma County, Oklahoma?
The median home price in Oklahoma County, Oklahoma is $200,911, higher than the Oklahoma average of $127,500.
What is the average home price in Oklahoma 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 Oklahoma County, Oklahoma?
The median gross rent in Oklahoma County, Oklahoma is $1,073 per month, higher than the Oklahoma average of $979.
What was the median gross rent in Oklahoma County in 2020?
In 2020, the median gross rent in Oklahoma County, Oklahoma was $881 per month.
What is the price-to-rent ratio in Oklahoma County, Oklahoma?
The price-to-rent ratio in Oklahoma County, Oklahoma is about 15.6, meaning it would take roughly 15.6 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 Oklahoma County.
Are home prices or rent rising faster in Oklahoma County, Oklahoma?
Both home prices and rent are rising in Oklahoma County, up about 8.1% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Oklahoma County, Oklahoma?
53.0% of households in Oklahoma County, Oklahoma own their home, lower than the Oklahoma average of 57.6%.
What is the vacancy rate in Oklahoma County, Oklahoma?
The housing vacancy rate in Oklahoma County, Oklahoma is 9.5%, lower than the Oklahoma average of 12.5%.