Average home values in Greater OKC significantly lower than nation 

If you are currently a homeowner in the Greater Oklahoma City region, or if you are looking to purchase a home sometime soon, you will be glad to know that the average home values here are a lot lower than those in other cities across the U.S. 

According to data derived from several sources, including Zillow, Redfin and the U.S. Census Bureau, the 2023 average home value in Greater Oklahoma City is $217,493. Compare that to the rest of the nation where the average home value is $349,770 – more than a $130,000 difference. 

The data also revealed that over the past 10 years, the Greater OKC average home value has increased by $100,000 but is still significantly lower than the rest of the nation, which saw an average increase of about $177,000. 

If you drill down into the data even further, county by county, within Greater OKC’s 10-county region, you find that Logan County has the highest average home values of $274,232. McClain County is second at $263,706, followed by Canadian County at $249,553. Rounding out the list are Cleveland County ($235,875), Oklahoma County ($210,241), Grady County ($208,535), Kingfisher County ($205,015), Payne County ($203,934), Pottawatomie County ($162,289) and Lincoln County ($161,549). 

Researchers also found that just 15.3% of homeowners in Oklahoma are considered housing burdened when compared to the nation (17.6%). A homeowner is considered housing burdened when more than 30% of household income is spent on a mortgage. 

To see more detailed information, please visit the Chamber's Economic Indicators section in the November 2023 issue of the VeloCity newsletter.