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 | Stephens County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $81,714 | $127,500 | $242,182 |
| Price Trend (Annual %) | 4.1% | 5.5% | 8.2% |
| Median Gross Rent | $864 | $979 | $1,342 |
| Rent Trend (Annual %) | 4.1% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Stephens County is about 36% lower than in Oklahoma. Rent is about 12% 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 Stephens County, up about 4.1% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Stephens County rose about 33.4% between 2015 and 2023, from $648 to $864. Over the same span, rent in Oklahoma rose about 34.7%.
Affordability
On average, housing unit costs 1.4 yearly household incomes in Stephens County.
Buying the median-priced home in Stephens County costs roughly 7.9 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 Stephens County. The price-to-rent ratio in Oklahoma is about 10.9.
| Metric | Stephens County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $81,714 | $127,500 | $242,182 |
| Median Household Income | $60,237 | $63,953 | $78,145 |
| Price-to-Income Ratio | 1.4 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Stephens County rose about 15.1%, while median household income rose about 42.3% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Stephens County | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.2% | 57.6% | 58.2% |
| Rental Rate | 21.6% | 29.9% | 31.3% |
| Vacancy Rate | 15.2% | 12.5% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Stephens County has a homeownership rate of 63.2%, higher than the Oklahoma average of 57.6%. Its housing vacancy rate is 15.2%, compared with 12.5% in Oklahoma.
Housing Stock
| Metric | Stephens County | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.48 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1974 | 1980 | 1978 |
| Median Number of Rooms | 5.6 | 5.5 | 5.5 |
The typical housing unit in Stephens County was built around 1974. On average, 2.5 people live in a home with about 5.6 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Stephens County, Oklahoma.
What is the median home price in Stephens County, Oklahoma?
The median home price in Stephens County, Oklahoma is $81,714, lower than the Oklahoma average of $127,500.
What is the average home price in Stephens 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 Stephens County, Oklahoma?
The median gross rent in Stephens County, Oklahoma is $864 per month, lower than the Oklahoma average of $979.
What was the median gross rent in Stephens County in 2020?
In 2020, the median gross rent in Stephens County, Oklahoma was $699 per month.
What is the price-to-rent ratio in Stephens County, Oklahoma?
The price-to-rent ratio in Stephens County, Oklahoma is about 7.9, meaning it would take roughly 7.9 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 Stephens County.
Are home prices or rent rising faster in Stephens County, Oklahoma?
Both home prices and rent are rising in Stephens County, up about 4.1% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Stephens County, Oklahoma?
63.2% of households in Stephens County, Oklahoma own their home, higher than the Oklahoma average of 57.6%.
What is the vacancy rate in Stephens County, Oklahoma?
The housing vacancy rate in Stephens County, Oklahoma is 15.2%, higher than the Oklahoma average of 12.5%.