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 | Sequoyah County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $136,373 | $127,500 | $242,182 |
| Price Trend (Annual %) | 16.4% | 5.5% | 8.2% |
| Median Gross Rent | $795 | $979 | $1,342 |
| Rent Trend (Annual %) | 3.2% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sequoyah County is about 7% higher than in Oklahoma. Rent is about 19% 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 Sequoyah County, up about 16.4% and 3.2% a year respectively. Home prices are changing faster.
Median rent in Sequoyah County rose about 31.7% between 2015 and 2023, from $604 to $795. Over the same span, rent in Oklahoma rose about 34.7%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Sequoyah County.
Buying the median-priced home in Sequoyah County costs roughly 14.3 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 Sequoyah County. The price-to-rent ratio in Oklahoma is about 10.9.
| Metric | Sequoyah County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $136,373 | $127,500 | $242,182 |
| Median Household Income | $49,798 | $63,953 | $78,145 |
| Price-to-Income Ratio | 2.7 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Sequoyah County rose about 135.1%, while median household income rose about 48.3% 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 | Sequoyah County | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.1% | 57.6% | 58.2% |
| Rental Rate | 24.1% | 29.9% | 31.3% |
| Vacancy Rate | 16.8% | 12.5% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Sequoyah County has a homeownership rate of 59.1%, higher than the Oklahoma average of 57.6%. Its housing vacancy rate is 16.8%, compared with 12.5% in Oklahoma.
Housing Stock
| Metric | Sequoyah County | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.59 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1981 | 1980 | 1978 |
| Median Number of Rooms | 5.3 | 5.5 | 5.5 |
The typical housing unit in Sequoyah County was built around 1981. On average, 2.6 people live in a home with about 5.3 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Sequoyah County, Oklahoma.
What is the median home price in Sequoyah County, Oklahoma?
The median home price in Sequoyah County, Oklahoma is $136,373, higher than the Oklahoma average of $127,500.
What is the average home price in Sequoyah 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 Sequoyah County, Oklahoma?
The median gross rent in Sequoyah County, Oklahoma is $795 per month, lower than the Oklahoma average of $979.
What was the median gross rent in Sequoyah County in 2020?
In 2020, the median gross rent in Sequoyah County, Oklahoma was $690 per month.
What is the price-to-rent ratio in Sequoyah County, Oklahoma?
The price-to-rent ratio in Sequoyah County, Oklahoma is about 14.3, meaning it would take roughly 14.3 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 Sequoyah County.
Are home prices or rent rising faster in Sequoyah County, Oklahoma?
Both home prices and rent are rising in Sequoyah County, up about 16.4% and 3.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Sequoyah County, Oklahoma?
59.1% of households in Sequoyah County, Oklahoma own their home, higher than the Oklahoma average of 57.6%.
What is the vacancy rate in Sequoyah County, Oklahoma?
The housing vacancy rate in Sequoyah County, Oklahoma is 16.8%, higher than the Oklahoma average of 12.5%.