Oklahoma City real estate market overview
- Average Monthly Rent: $960
- Home Price/Value Percentage Change: 7.70%
- Median Home Value: $195,119
- Best Time To Sell a Home: August
- Affordability Index: Moderate
- Days To Sell a House: 46
- Job Market: Weak
- Public School Ranking: 45
Location and weather
Oklahoma City is the capital of Oklahoma and is near the center of the state. It lies on the North Canadian River, in a valley, about 100 miles southwest of Tulsa. Home of the National Cowboy & Western Heritage Museum and the National Softball Hall of Fame & Museum, Oklahoma is rich in culture, aviation and sports.
Oklahoma City's climate is typical of the southern Great Plains with long, warm summers and short winters. The warm season is from early June through mid-September with high temperatures above 85 degrees and lows in the mid-70's. The cold season is from late November through February with high temperatures below 58 degrees and lows in the 30's.
Population, job market and cost of living
Oklahoma City's population in 2023 is 711,372 with an annual growth rate of 1.44%.
The job market has decreased -3.37% over the last year. 10-year future predicted job growth is 32.36%. A major transportation center for the marketing and distribution of livestock, cotton and wheat, Oklahoma City also has a history of oil production which continues to this day. The largest businesses in Oklahoma City are Health Care & Social Assistance, Retail Trade, Accommodations & Food Services.
The cost of living is moderate due to Oklahoma's real estate market with mid-range home prices. With a variety of cultural activities and events, long, warm summers, a growing job market and moderate cost of living, Oklahoma will continue to attract those to work and live in this growing city.
Oklahoma City real estate market details
- Lincoln Terrace
- Deep Deuce
- Mesta Park
- Quail Creek
- Downtown Oklahoma City
There has been a 7.7% increase in median home value over the last year. As of 2023, the median home value is $195,119.
The best time to sell a home for the highest valued sale is during May. For the quickest sale, homeowners should sell in July.
The affordability index in Oklahoma City is 84. This number indicates moderate affordability in this city.
The top ranked public schools are Schwartz Elementary School, South Lake Elementary School, Earlywine Elementary School, Oakridge Elementary School and Wayland Bonds Elementary School. This information is based on data measuring academic performance and equity.