Oklahoma City, OK Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Oklahoma City, OK Housing Market Trends

With a population of 655,057, 242,748 total housing units (homes and apartments), and a median house value of $168,175, house prices in Oklahoma City are solidly below the national average.

Single-family detached homes are the single most common housing type in Oklahoma City, accounting for 68.06% of the city's housing units. Other types of housing that are prevalent in Oklahoma City include large apartment complexes or high rise apartments ( 20.02%), duplexes, homes converted to apartments or other small apartment buildings ( 5.79%), and a few mobile homes or trailers ( 3.03%).

The most prevalent building size and type in Oklahoma City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.67% owning and 42.33% renting.

There is a lot of housing in Oklahoma City built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Oklahoma City built between 1940-1969 ( 28.65%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.52%). There's also some housing in Oklahoma City built before 1939 ( 8.37%).

Vacant housing appears to be an issue in Oklahoma City. Fully 11.14% of the housing stock is classified as vacant. Left unchecked, vacant Oklahoma City homes and apartments can be a drag on the real estate market, holding Oklahoma City real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Oklahoma City Home Appreciation Rates

Appreciation rates for homes in Oklahoma City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 43.98%, which ranks in the top 50% nationwide. This equates to an annual average Oklahoma City house appreciation rate of 3.71%.

Over the last year, Oklahoma City appreciation rates have trailed the rest of the nation. In the last twelve months, Oklahoma City's appreciation rate has been 6.74%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Oklahoma City were at 2.28%, which equates to an annual appreciation rate of 9.42%.

Relative to Oklahoma, our data show that Oklahoma City's latest annual appreciation rate is higher than 50% of the other cities and towns in Oklahoma.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Oklahoma City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Oklahoma City - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Oklahoma City real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$168,175

Oklahoma City, OK HOME PRICES

> $1,191,000
0.7%
0.7%
$893,001 - $1,191,000
0.7%
0.7%
$596,001 - $893,000
1.8%
1.8%
$476,001 - $596,000
2.2%
2.2%
$357,001 - $476,000
4.8%
4.8%
$238,001 - $357,000
14.7%
14.7%
$119,001 - $238,000
40.4%
40.4%
$60,001 - $119,000
24.4%
24.4%
$0 - $60,000
10.4%
10.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very High for OK

Value Relative To Nation

Number Of Homes And Apartments:
242,748

Oklahoma City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OK*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
94.82% 3.15%
7
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,189 / per month

Homeownership Rate

Owners
57.7%
57.7%
Renters
42.3%
42.3%
Vacant
11.1%
11.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
22.5%
22.5%
1970 - 1999
40.5%
40.5%
1940 - 1969
28.6%
28.6%
1939 or Older
8.4%
8.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
68.1%
68.1%
Townhomes
3.0%
3.0%
Small Apt. Buildings
5.8%
5.8%
Apt. Complexes
20.0%
20.0%
Mobile Homes
3.0%
3.0%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.5%
2.5%
1 Bedroom
12.8%
12.8%
2 Bedrooms
25.4%
25.4%
3 Bedrooms
43.4%
43.4%
4 Bedrooms
14.3%
14.3%
5 or more bedrooms
1.6%
1.6%
0.0% 100.0%
% OF HOMES