Estimated Monthly Payment — Median Oklahoma Home
$1,422
Based on $205,000 home · 20% down · 6.7% APR · 30-year fixed · taxes & insurance included
Median Price
$205,000
Property Tax
0.9%
Avg. HOA
$125/mo
Median Rent
$950/mo
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Estimate only. Not a loan offer, approval, pre-approval, or financial advice. Actual payments and terms may vary. Consult a licensed mortgage professional before making real estate decisions.
Market Insights
About the Oklahoma housing market
Oklahoma's housing market is among the most affordable in the country, with a median home price around $205,000. Oklahoma City is the largest metro, with Tulsa a close second. Oklahoma offers some of the lowest home prices and total cost of ownership in the country, with energy-sector employment supporting Oklahoma City and Tulsa. Oklahoma's effective property tax rate of 0.9% is near the national average.
The median Oklahoma home costs $205,000. At today's average 30-year fixed rate (6.7%) with 20% down, principal & interest works out to roughly $1,058, and the total monthly payment including taxes, insurance, and average HOA comes to approximately $1,422. First-time buyers in Oklahoma can explore programs through Oklahoma HFA.
Photo by Gerson Repreza on Unsplash
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FAQ
Oklahoma mortgage FAQs
What's the property tax rate in Oklahoma?
Oklahoma's effective property tax rate averages about 0.9% — near the national average. On a $205,000 home, that's roughly $154/month or $1,845/year.
How much do I need to earn to afford a typical Oklahoma home?
Using the 28/36 rule, a buyer would need roughly $53,000–$68,000 in gross annual income to comfortably afford Oklahoma's $205,000 median home with 20% down at current rates.
What first-time buyer programs are available in Oklahoma?
OHFA offers the Advantage and 4Teachers programs providing down payment assistance up to 3.5%, plus the HOME (Homebuyer Loan) Program with below-market rates. Eligibility typically requires being a first-time buyer with income within program limits and completing homebuyer education.
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