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 | Washita County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $60,625 | $127,500 | $242,182 |
| Price Trend (Annual %) | -2.4% | 5.5% | 8.2% |
| Median Gross Rent | $775 | $979 | $1,342 |
| Rent Trend (Annual %) | 2.6% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Washita County is about 52% lower than in Oklahoma. Rent is about 21% 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 Washita County: home prices fell about 2.4% a year while rent rose about 2.6% a year. That is an unusual pattern worth watching.
Median rent in Washita County rose about 20.4% between 2015 and 2023, from $643 to $775. Over the same span, rent in Oklahoma rose about 34.7%.
Affordability
On average, housing unit costs 0.9 yearly household incomes in Washita County.
Buying the median-priced home in Washita County costs roughly 6.5 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 Washita County. The price-to-rent ratio in Oklahoma is about 10.9.
| Metric | Washita County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $60,625 | $127,500 | $242,182 |
| Median Household Income | $63,839 | $63,953 | $78,145 |
| Price-to-Income Ratio | 0.9 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Washita County fell about 35.3%, while median household income rose about 53.1% 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 | Washita County | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.9% | 57.6% | 58.2% |
| Rental Rate | 20.0% | 29.9% | 31.3% |
| Vacancy Rate | 20.1% | 12.5% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Washita County has a homeownership rate of 59.9%, higher than the Oklahoma average of 57.6%. Its housing vacancy rate is 20.1%, compared with 12.5% in Oklahoma.
Housing Stock
| Metric | Washita County | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.59 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1973 | 1980 | 1978 |
| Median Number of Rooms | 5.6 | 5.5 | 5.5 |
The typical housing unit in Washita County was built around 1973. On average, 2.6 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 Washita County, Oklahoma.
What is the median home price in Washita County, Oklahoma?
The median home price in Washita County, Oklahoma is $60,625, lower than the Oklahoma average of $127,500.
What is the average home price in Washita 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 Washita County, Oklahoma?
The median gross rent in Washita County, Oklahoma is $775 per month, lower than the Oklahoma average of $979.
What was the median gross rent in Washita County in 2020?
In 2020, the median gross rent in Washita County, Oklahoma was $690 per month.
What is the price-to-rent ratio in Washita County, Oklahoma?
The price-to-rent ratio in Washita County, Oklahoma is about 6.5, meaning it would take roughly 6.5 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 Washita County.
Are home prices or rent rising faster in Washita County, Oklahoma?
Home prices and rent are moving in opposite directions in Washita County: home prices fell about 2.4% a year while rent rose about 2.6% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Washita County, Oklahoma?
59.9% of households in Washita County, Oklahoma own their home, higher than the Oklahoma average of 57.6%.
What is the vacancy rate in Washita County, Oklahoma?
The housing vacancy rate in Washita County, Oklahoma is 20.1%, higher than the Oklahoma average of 12.5%.