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 | Seminole County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $130,415 | $127,500 | $242,182 |
| Price Trend (Annual %) | 13.8% | 5.5% | 8.2% |
| Median Gross Rent | $730 | $979 | $1,342 |
| Rent Trend (Annual %) | 3.3% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Seminole County is about 2% higher than in Oklahoma. Rent is about 25% 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 Seminole County, up about 13.8% and 3.3% a year respectively. Home prices are changing faster.
Median rent in Seminole County rose about 32.5% between 2015 and 2023, from $551 to $730. Over the same span, rent in Oklahoma rose about 34.7%.
Affordability
On average, housing unit costs 2.8 yearly household incomes in Seminole County.
Buying the median-priced home in Seminole County 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 Seminole County. The price-to-rent ratio in Oklahoma is about 10.9.
| Metric | Seminole County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $130,415 | $127,500 | $242,182 |
| Median Household Income | $46,308 | $63,953 | $78,145 |
| Price-to-Income Ratio | 2.8 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Seminole County rose about 110.0%, while median household income rose about 46.2% 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 | Seminole County | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.1% | 57.6% | 58.2% |
| Rental Rate | 24.5% | 29.9% | 31.3% |
| Vacancy Rate | 19.4% | 12.5% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Seminole County has a homeownership rate of 56.1%, lower than the Oklahoma average of 57.6%. Its housing vacancy rate is 19.4%, compared with 12.5% in Oklahoma.
Housing Stock
| Metric | Seminole County | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.62 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1977 | 1980 | 1978 |
| Median Number of Rooms | 5.6 | 5.5 | 5.5 |
The typical housing unit in Seminole County was built around 1977. 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 Seminole County, Oklahoma.
What is the median home price in Seminole County, Oklahoma?
The median home price in Seminole County, Oklahoma is $130,415, higher than the Oklahoma average of $127,500.
What is the average home price in Seminole 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 Seminole County, Oklahoma?
The median gross rent in Seminole County, Oklahoma is $730 per month, lower than the Oklahoma average of $979.
What was the median gross rent in Seminole County in 2020?
In 2020, the median gross rent in Seminole County, Oklahoma was $630 per month.
What is the price-to-rent ratio in Seminole County, Oklahoma?
The price-to-rent ratio in Seminole County, 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 Seminole County.
Are home prices or rent rising faster in Seminole County, Oklahoma?
Both home prices and rent are rising in Seminole County, up about 13.8% and 3.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Seminole County, Oklahoma?
56.1% of households in Seminole County, Oklahoma own their home, lower than the Oklahoma average of 57.6%.
What is the vacancy rate in Seminole County, Oklahoma?
The housing vacancy rate in Seminole County, Oklahoma is 19.4%, higher than the Oklahoma average of 12.5%.