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 | Tillman County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $25,000 | $127,500 | $242,182 |
| Price Trend (Annual %) | -6.4% | 5.5% | 8.2% |
| Median Gross Rent | $704 | $979 | $1,342 |
| Rent Trend (Annual %) | 2.0% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Tillman County is about 80% lower than in Oklahoma. Rent is about 28% lower than the Oklahoma average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Tillman County: home prices fell about 6.4% a year while rent rose about 2.0% a year. That is an unusual pattern worth watching.
Median rent in Tillman County rose about 16.2% between 2015 and 2023, from $606 to $704. Over the same span, rent in Oklahoma rose about 34.7%.
Affordability
On average, housing unit costs 0.5 yearly household incomes in Tillman County.
Buying the median-priced home in Tillman County costs roughly 3.0 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 Tillman County. The price-to-rent ratio in Oklahoma is about 10.9.
| Metric | Tillman County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $25,000 | $127,500 | $242,182 |
| Median Household Income | $48,528 | $63,953 | $78,145 |
| Price-to-Income Ratio | 0.5 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Tillman County rose about 8.9%, while median household income rose about 71.9% 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 | Tillman County | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.6% | 57.6% | 58.2% |
| Rental Rate | 17.7% | 29.9% | 31.3% |
| Vacancy Rate | 29.7% | 12.5% | 10.6% |
| Median Tenure (years) | 20.0 | 14.0 | 15.0 |
| Median Year Moved In | 2006 | 2012 | 2011 |
Tillman County has a homeownership rate of 52.6%, lower than the Oklahoma average of 57.6%. Its housing vacancy rate is 29.7%, compared with 12.5% in Oklahoma.
Housing Stock
| Metric | Tillman County | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.53 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1966 | 1980 | 1978 |
| Median Number of Rooms | 5.5 | 5.5 | 5.5 |
The typical housing unit in Tillman County was built around 1966. On average, 2.5 people live in a home with about 5.5 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Tillman County, Oklahoma.
What is the median home price in Tillman County, Oklahoma?
The median home price in Tillman County, Oklahoma is $25,000, lower than the Oklahoma average of $127,500.
What is the average home price in Tillman 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 Tillman County, Oklahoma?
The median gross rent in Tillman County, Oklahoma is $704 per month, lower than the Oklahoma average of $979.
What was the median gross rent in Tillman County in 2020?
In 2020, the median gross rent in Tillman County, Oklahoma was $625 per month.
What is the price-to-rent ratio in Tillman County, Oklahoma?
The price-to-rent ratio in Tillman County, Oklahoma is about 3.0, meaning it would take roughly 3.0 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 Tillman County.
Are home prices or rent rising faster in Tillman County, Oklahoma?
Home prices and rent are moving in opposite directions in Tillman County: home prices fell about 6.4% a year while rent rose about 2.0% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Tillman County, Oklahoma?
52.6% of households in Tillman County, Oklahoma own their home, lower than the Oklahoma average of 57.6%.
What is the vacancy rate in Tillman County, Oklahoma?
The housing vacancy rate in Tillman County, Oklahoma is 29.7%, higher than the Oklahoma average of 12.5%.