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1) Oklahoma City boasts an impressive livability score of 81, highlighting its excellent quality of life
Signal strength: strong
The livability score of 81 in Oklahoma City is considered excellent because it reflects a high quality of life for residents.
One reason for this high score is the affordable cost of living, which is significantly lower than the national average, making it attractive for potential homeowners. Additionally, Oklahoma City boasts a strong job market with diverse employment opportunities, particularly in sectors like energy, aviation, and healthcare.
Another contributing factor is the vibrant cultural scene, with numerous museums, theaters, and music venues that enhance the city's appeal. These characteristics make Oklahoma City a desirable place to live, which in turn supports the assumption that buying property here is a good investment.
However, if the livability score were to drop significantly, it might indicate potential issues that could affect property values negatively.
Source: AreaVibes
2) Oklahoma City's "vacancy rate" of 9.5% shows a bustling and competitive market with most spaces filled
Signal strength: strong
The vacancy rate of 9.5% in Oklahoma City is a clear indicator of a market where properties are in high demand. This low vacancy rate suggests that most properties are occupied, making it a competitive environment for renters.
In such a market, investing in real estate can be a wise decision because properties are likely to be rented out quickly. Specifically, well-maintained single-family homes in areas like the Edmond neighborhood are particularly attractive to renters.
These homes often appeal to families looking for good schools and community amenities. As an investor, this means you can expect a steady stream of potential tenants.
If the vacancy rate were to rise above 15%, it might indicate an oversupply of rental properties, which could make it harder to find tenants.
Sources: NeighborhoodScout, DataUSA, USCensus
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3) In just about 3 years, a local can afford a house in Oklahoma City, which is quite reasonable
Signal strength: moderate
In Oklahoma City, it would take around 3.0 years for a local to be able to buy a house, which is relatively short compared to many other places.
This is a strong indicator that buying a property is a good investment in this market. The median household income in Oklahoma City is about $67,015, which is quite reasonable for the cost of living in the area.
Meanwhile, the median home price is approximately $199,271, making it affordable for many potential buyers. This affordability means that more people can enter the housing market, increasing demand and potentially driving up property values over time.
If it took significantly longer, say over 5 years for a local to buy a house, it might suggest that the market is less accessible and not as favorable for investment.
Source: USCensus
4) By 2026, the Crossroads of America project in Oklahoma City plans to improve infrastructure and increase real estate development
Signal strength: moderate
The Crossroads of America project in Oklahoma City is a significant infrastructure initiative aimed at enhancing the city's connectivity and real estate potential.
This project focuses on replacing outdated infrastructure at the I-35/I-240 interchange with a safer, multilevel interchange. It includes dedicated interstate ramps, frontage road turnaround lanes, and service roads, all designed to improve access to city streets. By addressing safety issues and alleviating congestion, the project aims to enhance mobility and operational efficiency in the area.
One of the key benefits of this project is its potential to boost real estate values in the surrounding areas. Improved infrastructure often leads to increased demand for properties, as it enhances the overall quality of life and provides better connections to job opportunities. This is particularly important for disadvantaged communities facing high transportation cost burdens, as it can lead to economic growth and development.
With a completion date set for 2026 and full buildout anticipated by 2028, the Crossroads of America project represents a strategic investment in Oklahoma City's future. The expected improvements in infrastructure and real estate value make buying property in the area a potentially lucrative investment opportunity.
Sources: Oklahoma.gov, ACPPubs
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5) Oklahoma City's population is on the rise, experiencing a 0.88% growth
Signal strength: moderate
The population growth in Oklahoma City is a key indicator of economic vitality and potential for property investment. A steady increase in population, such as the 0.88% rise from 2023 to 2024, suggests a growing demand for housing and infrastructure.
As more people move to the area, the demand for real estate typically increases, which can lead to higher property values over time. This trend is supported by the consistent population growth observed over the past few years, including a 0.99% increase from 2022 to 2023 and a 1% increase from 2021 to 2022.
Investing in property in a growing city like Oklahoma City can be seen as a strategic financial decision. The projected population growth, with forecasts indicating a rise to over two million people by 2040, further underscores the potential for long-term appreciation in property values.
Moreover, a growing population often leads to economic development, including new businesses, improved infrastructure, and enhanced public services, all of which can contribute to a higher quality of life and increased property desirability.
Sources: Macrotrends, Synergos Tech, Velocity OKC, A Better Life OKC
6) In Oklahoma City, the "median home price" is significantly lower, standing at 54% below the national average
Signal strength: minimal
The fact that Oklahoma City has a median home price that is 54% below the national average suggests that there is significant room for property value appreciation. This makes it an attractive market for potential investors looking for affordable entry points into real estate.
In Oklahoma City, the most expensive properties are likely to be luxury homes in areas like Nichols Hills, where affluent buyers seek high-end amenities and exclusivity. On the other hand, the cheapest properties are probably small single-family homes in neighborhoods such as the southwest part of the city, where prices are more accessible.
Investors might find these lower-priced properties appealing for rental income opportunities or future resale value. The combination of affordable prices and potential growth makes Oklahoma City a compelling market for real estate investment.
If the median home price were to rise to closer to the national average, it might indicate that the market is becoming less of a bargain and potentially less attractive for new investors.
Source: Zillow
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So, is it worth buying property in Oklahoma City? Absolutely, it is.
Oklahoma City offers a compelling case for real estate investment, thanks to its excellent livability score of 81, which highlights a high quality of life.
The city's affordable cost of living and strong job market make it an attractive option for potential homeowners. With a vacancy rate of 9.5%, the market is competitive, ensuring properties are in high demand and likely to be rented out quickly.
Moreover, the median home price is 54% below the national average, providing affordable entry points for investors. The ongoing Crossroads of America project promises to boost infrastructure, further boosting real estate values.