Current home values in Oklahoma

Home values have been rising throughout Oklahoma and are up 5.5% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $288,130, Realtor says.

Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today's bargain mortgage rates and the low monthly house payments they provide.

Here's how that works in Oklahoma: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

A 30-year mortgage for a $288,130 home at 3.33% would give a typical Oklahoma homebuyer a monthly payment of $1,013, assuming a 20% down payment.

How the Oklahoma housing market stacks up

Mother and kids petting a cow
WorldStockPhoto / Shutterstock
Families can spend time visiting dairy farms in Oklahoma

The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in Oklahoma, they're predicted to rise 4.5%.

Homes right now are going on the market in Oklahoma at a median price of $109 per square foot, versus $134 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

Oklahoma home prices over the last 10 years

Year Avg. Price
2020* $131,773
2019 $124,913
2018 $120,567
2017 $114,583
2016 $106,367
2015 $98,775
2014 $95,767
2013 $94,192
2012 $93,517
2011 $94,483
2010 $96,992
2009 $96,383

*2020 price average through March 31, 2020.

How much for an average-sized home?

Here's what a 2,500-square-foot home in Oklahoma is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2020* $272,321
2019 $205,000
2018 $197,500
2017 $192,500
2016 $177,500
2015 $165,000
2014 $160,000
2013 $157,500
2012 $155,000
2011 $155,000
2010 $162,500
2009 $162,500

*2020 price average through March 31, 2020.

About the Author

Doug Whiteman

Doug Whiteman

Editor-in-Chief

Doug Whiteman is the editor-in-chief of MoneyWise. He has been quoted by The Wall Street Journal, USA Today and CNBC.com and has been interviewed on Fox Business, CBS Radio and the syndicated TV show "First Business."