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 | Woods County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $65,833 | $127,500 | $242,182 |
| Price Trend (Annual %) | 36.4% | 5.5% | 8.2% |
| Median Gross Rent | $806 | $979 | $1,342 |
| Rent Trend (Annual %) | 3.3% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Woods County is about 48% lower than in Oklahoma. Rent is about 18% 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 Woods County, up about 36.4% and 3.3% a year respectively. Home prices are changing faster.
Median rent in Woods County rose about 29.4% between 2015 and 2023, from $623 to $806. Over the same span, rent in Oklahoma rose about 34.7%.
Affordability
On average, housing unit costs 1.3 yearly household incomes in Woods County.
Buying the median-priced home in Woods County costs roughly 6.8 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 Woods County. The price-to-rent ratio in Oklahoma is about 10.9.
| Metric | Woods County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $65,833 | $127,500 | $242,182 |
| Median Household Income | $50,616 | $63,953 | $78,145 |
| Price-to-Income Ratio | 1.3 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Woods County rose about 348.3%, while median household income rose about 9.3% 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 | Woods County | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.3% | 57.6% | 58.2% |
| Rental Rate | 27.8% | 29.9% | 31.3% |
| Vacancy Rate | 21.8% | 12.5% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Woods County has a homeownership rate of 50.3%, lower than the Oklahoma average of 57.6%. Its housing vacancy rate is 21.8%, compared with 12.5% in Oklahoma.
Housing Stock
| Metric | Woods County | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.20 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1968 | 1980 | 1978 |
| Median Number of Rooms | 5.9 | 5.5 | 5.5 |
The typical housing unit in Woods County was built around 1968. On average, 2.2 people live in a home with about 5.9 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Woods County, Oklahoma.
What is the median home price in Woods County, Oklahoma?
The median home price in Woods County, Oklahoma is $65,833, lower than the Oklahoma average of $127,500.
What is the average home price in Woods 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 Woods County, Oklahoma?
The median gross rent in Woods County, Oklahoma is $806 per month, lower than the Oklahoma average of $979.
What was the median gross rent in Woods County in 2020?
In 2020, the median gross rent in Woods County, Oklahoma was $726 per month.
What is the price-to-rent ratio in Woods County, Oklahoma?
The price-to-rent ratio in Woods County, Oklahoma is about 6.8, meaning it would take roughly 6.8 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 Woods County.
Are home prices or rent rising faster in Woods County, Oklahoma?
Both home prices and rent are rising in Woods County, up about 36.4% and 3.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Woods County, Oklahoma?
50.3% of households in Woods County, Oklahoma own their home, lower than the Oklahoma average of 57.6%.
What is the vacancy rate in Woods County, Oklahoma?
The housing vacancy rate in Woods County, Oklahoma is 21.8%, higher than the Oklahoma average of 12.5%.