Home Affordability in Oklahoma City, OK
The median home price in Oklahoma City is $210,000 with a median household income of $54,689. Housing is moderately affordable relative to local incomes.
Median Home Price
$210,000
Median Income
$54,689
Price-to-Income Ratio
3.8x
Est. Affordable Home
$213,000
Property Tax Rate
0.90%
Annual Property Tax
$1,890
Sales Tax Rate
8.63%
Cost of Living Index
87
Buying a Home in Oklahoma City
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $54,689 in Oklahoma City can afford a monthly housing payment of approximately $1,276. This translates to a home price of roughly $213,000, which is at or above the median home price — the typical home is within reach for a median-income household.
Property taxes on a median-priced home in Oklahoma City would be approximately $1,890 per year ($157/month) at the effective rate of 0.90%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $6,300 | $203,700 | Yes |
| 5% | $10,500 | $199,500 | Yes |
| 10% | $21,000 | $189,000 | Yes |
| 20% | $42,000 | $168,000 | No |
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