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While nearly 41.20% of residents own their homes outright in Oklahoma City, 31.92% rent. Housing affordability isn’t just about home prices, though. The average household income in Oklahoma City is $6,253 per month.
Sep 14, 2023 · So, let’s dive into the top 10 most affordable neighborhoods in Oklahoma City for first-time homebuyers. 1. Midwest City. Midwest City is a suburb of Oklahoma City and is known for its low cost of living. The median home price here is significantly lower than the national average, making it an ideal spot for first-time homebuyers.
With a median home price of $54,995 and a median rent of $806, Stockyards City Main Street is the most affordable neighborhood on our list. Based on the growth in home prices in Stockyards City Main Street over the last 3 years, it ranks No. 237 among all the neighborhoods in Oklahoma City.
Aug 1, 2024 · The best neighborhoods in Oklahoma City have something to offer for everyone, including places to live at affordable prices! Whether it be family-friendly activities, outdoor recreation, entertainment, or unique places to eat that you’re after, the best Oklahoma City neighborhoods can deliver.
Aug 2, 2022 · #1: Spencer. Median home price: $88,000. Driving distance from Oklahoma City: 20 minutes. Spencer, OK homes for sale. Spencer, OK apartments for rent. Spencer, with a median home sale price of $88,000, comes in at number one on our list of most affordable Oklahoma City suburbs.
A substantial proportion of Oklahoma City households—42% of renter households and 19% of owner households—are housing cost-burdened, meaning they spend more than 30% of their gross income on rent or mortgage and have limited income remaining to take care of other life needs.