Best Affordable Places to Live in Oklahoma in 2024
(Last Updated – 12/2023)
Oklahoma is known for its natural beauty, its Native American heritage, and its cowboy culture. And there’s plenty to do in the Sooner State — from cultural offerings (think museums and galleries) to recreational activities such as hiking, fishing, and camping. If you’re a fan of dining out, you’ll definitely want to check out the state’s famous Oklahoma-style barbecue and farm-to-table fare.
Oklahoma is also among the most affordable places to live when you look at rankings of the cost of living by state. (Currently, Oklahoma comes in second in the U.S.) Housing costs in Oklahoma are among the lowest in the country for both buyers and renters.
Best Places to Live in Oklahoma
Whether you long for wide-open spaces, city living, or something in-between, you can find your fit in Oklahoma. Read on for our roundup of some of the best places in Oklahoma to live.
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Best Affordable Places to Live in Oklahoma
1. Edmond
You’ll find Edmond at or near the top of just about every “best of” list for the state of Oklahoma. This suburb of Oklahoma City has its own charming downtown and is known for its plentiful parks and top-notch performing arts venues. Families living there appreciate the well-ranked schools. It’s also home to the University of Central Oklahoma and Oklahoma Christian University.
Population: 96,286
Median Household Income: $87,591
Cost of Living: 89% of U.S. average
Median Rent Price: $1,725
Home Price-to-Income Ratio: 3.82
Average Property Tax: 1.2%
Housing Affordability: Home prices in Edmond have risen sharply in recent years, and on average costs are higher than in many other parts of the state. Still, prices remain reasonable, even for first-time homebuyers. Rental costs in Edmond have dropped $70 a month, year over year, but the rental market is still warm.
2. Jenks
Jenks is a fast-growing suburb of Tulsa, and home to the Oklahoma Aquarium, the Jenks Planetarium, and the popular RiverWalk Crossing Entertainment District, which offers shopping, dining, and entertainment venues. Jenks is also known for its short commute to Tulsa, and families will appreciate its well-regarded schools.
Population: 27,141
Median Household Income: $91,798
Cost of Living: 89% of U.S. average
Median Rent Price: $1,725
Home Price-to-Income Ratio: 3.6
Average Property Tax: 1.2% of home value
Housing Affordability: Home prices in Jenks have risen over the past few years but have started to stabilize — and costs can vary by neighborhood. If you’re looking for a rental in Jenks, you may be in luck: The rental market is cooling, and year-over-year prices have dropped significantly.
3. Stillwater
Photo credit: iStock/DenisTangneyJr
If you like the vibe of a college town, Stillwater — the home of Oklahoma State University — may be the right place for you. Stillwater is known for its hospitality, diversity, and affordability. It has a dynamic downtown area, with live music venues, shopping and dining, and year-round festivals. For those who love art and history, the city also offers the Downtown Stillwater Cultural District. And sports lovers can cheer on the OSU Cowboys.
Population: 49,160
Median Household Income: $37,991
Cost of Living: 82% of U.S. average
Median Rent Price: $1,200
Home Price-to-Income Ratio: 6.15
Average Property Tax: 1.01% of home value
Housing Affordability: Rent prices in Stillwater are much lower than in some other popular Oklahoma cities, but the rental market is hot right now, and prices are up substantially year over year. If you’re a hopeful homebuyer, you’ll find the same thing is true: Home prices have increased steadily over the past few years, but average home value here, at around $233,000, is more than $100,000 under the national average.
4. Norman
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Football fans likely know Norman as the home of the Sooners of the University of Oklahoma. And the university is a big part of life in Norman. The city is also homebase for the National Weather Service. (The area is nicknamed “Tornado Alley” because it’s one of the most tornado-prone places in the world.) When the weather cooperates, there’s plenty to do, whether you’re into museums, music, good food, or festivals.
Population: 129,627
Median Household Income: $59,866
Cost of Living: 84% of U.S. average
Median Rent Price: $1,345
Home Price-to-Income Ratio: 4.04
Average Property Tax: 1.22% of home value
Housing Affordability: Home prices are up in Norman, but are still reasonable compared to other cities in Oklahoma and the U.S. You’ll find prices can vary significantly from one neighborhood to the next, so if you’re hoping to buy in Norman, consider casting a wide net. Rental prices are down year over year, but the rental market is still warm.
5. Alva
If you’re looking for affordable small-town living, Alva has it. Outdoor enthusiasts will find this area near the Salt Fork Arkansas River offers plenty of good views and good fishing. And you may have a hard time finding a less expensive place to live, whether you plan to rent or buy. (Thinking about buying? Property taxes are 0.5% in Woods County, where Alva is located.)
Population: 5,056
Median Household Income: $55,254
Cost of Living: 89% of U.S. average
Median Rent Price: $1,400
Home Price-to-Income Ratio: 1.70
Average Property Tax: 0.5% of home value
Housing Affordability: Rent prices have been up and down this year in Alva, so you may be able to find a bargain. And home prices in Alva can be extremely affordable. Even though prices have been rising, the average home value is below $100,000.
Recommended: Home Loan Help Center
Best Places to Live in Oklahoma for Families
Parents seek out places with a concentration of activities and services for families. Well-rated schools and proximity to a solid job market are also among the priorities. These are the places in Oklahoma that rose to the top of our list.
1. Broken Arrow
Photo credit: iStock/DenisTangneyJr
Broken Arrow is a growing, family-friendly city in Oklahoma’s picturesque Green Country region. It’s about a 14-mile commute to Tulsa, and it has its own downtown business district as well. Families will be drawn to the well-rated schools, and they can find lots of activities to choose from year-round — including several seasonal festivals and a “Tuesdays in the Park” concert series held in June.
Population: 117,911
Median Household Income: $76,733
Cost of Living: 88% of U.S. average
Median Rent Price: $1,700
Home Price-to-Income Ratio: 3.5
Average Property Tax: 1.2% of home value
Housing Affordability: Keep an open mind when house hunting in Broken Arrow; there can be a wide range of home prices depending on the neighborhood you choose. But overall, homes are very affordable. Rental prices held steady at close to $1,700 a month for most of 2023, but the market is cooling.
2. Bixby
Nicknamed “The Garden Spot of Oklahoma” for its agricultural roots, Bixby is a small but growing city near Tulsa. Families are attracted to this community by its good schools, many parks, historic (but updated) downtown district, and small-town feel.
Population: 29,800
Median Household Income: $90,859
Cost of Living: 87% of U.S. average
Median Rent Price: $1,850
Home Price-to-Income Ratio: 3.4
Average Property Tax: 1.2% of home value
Housing Affordability: Home prices can be a little higher in Bixby than some other Oklahoma cities, but average values have remained pretty steady (at around $306,000) for the past year. The rental market is warm, but rent in Bixby is currently 8% lower than the national median.
3. Owasso
Owasso is another Tulsa suburb that’s popular with families. There are parks, playgrounds, and other recreational activities for the kids. And it’s big enough that it has the usual lineup of big box and grocery stores. Another draw for families: The schools are well regarded. Though it’s close to the city, Owasso has its own history and sense of community.
Population: 39,328
Median Household Income: $71,621
Cost of Living: 87% of U.S. average
Median Rent Price: $1,795
Home Price-to-Income Ratio: 4.1
Average Property Tax: 1.2% of home value
Housing Affordability: Home prices in Owasso are up a bit year over year, but still affordable. (Looking in Owasso? Make sure you understand the basics of how to qualify for a mortgage before the search gets serious.) The rental market is cooling, so there may be some good finds there, as well.
4. Choctaw
Choctaw is a city just east of Oklahoma City. While it offers all the amenities of a major metro area — and is a quick commute to the airport — Choctaw has a small-town feel and lots of history. (It was the first chartered town in Oklahoma.) Whether you’re renting or buying, you’ll find a wide range of choices, with neighborhoods that feature preserved and restored historic homes as well as many newer developments.
Population: 14,358
Median Household Income: $38,854
Cost of Living: 88% of U.S. average
Median Rent Price: $1,699
Home Price-to-Income Ratio: 7.24
Average Property Tax: 1.2% of home value
Housing Affordability: Homes in Choctaw are typically more expensive than nearby Oklahoma City and some other parts of the state but they are still well below the U.S. national average. But if you’re looking for a suburban or small-town feel with big-city conveniences nearby, Choctaw could be a good fit for your family. Is this your family’s first home purchase? Consult a first-time homebuyer guide to learn more about the process.
5. Enid
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If you’re seeking an affordable place to settle down with your family, Enid, with one of the lowest cost of living figures in the country, belongs on your list. Whether you’re renting or buying, you should be able to find a low-priced home. And there’s plenty to do there with your kids, including fairs, festivals, concerts, plus a waterpark and skating rink to visit.
Population: 50,499
Median Household Income: $57,772
Cost of Living: 78% of U.S. average
Median Rent Price: $895
Home Price-to-Income Ratio: 2.0
Average Property Tax: 0.91% of home value
Housing Affordability: The cost of buying or renting a home in Enid is lower than the state average — and much lower than the U.S. average. Property taxes are also low. If you haven’t bought a home before (or if it’s been a while), familiarize yourself with the different types of mortgage loans before you start your search.
Best Places to Live in Oklahoma for Young Adults
Young adults crave access to jobs and nightlife as well as proximity to other young adults. These cities would all be a nice location to begin putting down roots.
1. Oklahoma City
Photo credit: iStock/Sean Pavone
Young adults who like the idea of living in a city — but not an expensive and overwhelming metropolis — may find the state capital of Oklahoma City suits their needs. In 2023, Forbes ranked OKC the No. 2 city in the U.S. for young professionals, citing low living expenses, a thriving job market, and a vibrant atmosphere as major factors in its appeal.
Population: 694,800
Median Household Income: $59,679
Cost of Living: 86% of U.S. average
Median Rent Price: $1,300
Home Price-to-Income Ratio: 3.31
Average Property Tax: 1.2% of home value
Housing Affordability: Home values are up 3.8% over the past year in Oklahoma City, and yet the average home price is still less than $200,000. Rents are down a bit from a year ago, but the market is still warm. If you’re thinking about buying a home, understand the difference between mortgage prequalification and preapproval before you get serious about a spot.
2. Tulsa
Photo credit: iStock/Sean Pavone
Tulsa is Oklahoma’s second-largest city by population, but it’s still quite affordable for both renters and homebuyers — and it’s known for its hospitality. There are several walkable and welcoming neighborhoods for those who like the idea of stopping in at a local restaurant, coffee shop, or bar. (There’s also a public bus system and a bike share program.) Residents can enjoy a vibrant arts and entertainment scene with a range of music venues. And for outdoorsy types, there are more than 130 parks around the metro area.
Population: 411,867
Median Household Income: $60,382
Cost of Living: 87% of U.S. average
Median Rent Price: $1,350
Home Price-to-Income Ratio: 3.19
Average Property Tax: 1.2% of home value
Housing Affordability: Average home values and rent costs are both up year over year in Tulsa; still, home costs remain much lower than the U.S. average.
3. Moore
Looking for a suburban setting with a quick commute to Oklahoma City? Moore has a mix of amenities that both young professionals and young families might find appealing. The Station Recreation & Aquatic Center, which is run by the city, offers pickleball and basketball courts as well as an indoor walking track and an outdoor pool. And you may find that home and rent prices are less expensive in Moore than some nearby suburbs.
Population: 63,223
Median Household Income: $68,562
Cost of Living: 84% of U.S. average
Median Rent Price: $1,495
Home Price-to-Income Ratio: 3.0
Average Property Tax: 1.22% of home value
Housing Affordability: Homes in Moore may cost a bit more than in other parts of the state, but with an average home value of $207,548, it’s still a good location for young homebuyers. The rental market is up year over year, but cooling.
4. Altus
Altus is probably best known as the home of Altus Air Force Base, which was established during World War II. It’s also a great place for outdoor enthusiasts who like to hike, bike, fish, and swim. Area parks include Quartz Mountain State Park, which is located on the shores of Lake Altus-Lugert.
Population: 18,556
Median Household Income: $52,085
Cost of Living: 82% of U.S. average
Median Rent Price: $850
Home Price-to-Income Ratio: 1.66
Average Property Tax: 0.760% of home value
Housing Affordability: Home prices in Altus are among the most affordable in the state and property taxes are lower in Jackson County than in most other Oklahoma counties. Rental prices are low here, too.
5. Edmond
Edmond is popular with young professionals and families alike. This suburb of Oklahoma City offers easy access to the big city’s jobs, plus a nice downtown of its own with restaurants and bars young adults find welcoming. The University of Central Oklahoma here helps ensure a younger community.
Population: 96,286
Median Household Income: $87,591
Cost of Living: 89% of U.S. average
Median Rent Price: $1,725
Home Price-to-Income Ratio: 3.82
Average Property Tax: 1.2%
Housing Affordability: Rental costs in Edmond have dropped $70 a month, year over year. Home prices in Edmond are on the rise but the sheer size of the market (500 homes for sale at last count) helps ensure even those with less than $200,000 in the budget will have options.
Recommended: Oklahoma First-time Home Buying Assistance Programs
Best Places to Live in Oklahoma for Retirees
Retirees might want outdoor activities, easily available medical care, and a cost of living that helps a fixed income go farther. Oklahoma offers several options. (If taxes are a consideration, study up on the best states to retire in for tax purposes.
1. The Village
This small city is located just north of the upscale Nichols Hills suburb of Oklahoma City, but home prices in The Village are generally much lower. And it’s close to all that the big city has to offer (including the airport, for those who have grandkids to visit). It’s also a quick drive to lovely Lake Hefner, where retirees can walk, run, kayak, golf, and fish.
Population: 9,401
Median Household Income: $67,656
Cost of Living: 88% of U.S. average
Median Rent Price: $897
Home Price-to-Income Ratio: 3
Average Property Tax: 1.2% of home value
Housing Affordability: Home prices rose significantly over the past year in The Village, but they’re still quite reasonable considering the desirability of this area, and the price-to-income ratio is within the healthy range.
2. Bartlesville
Photo credit: iStock/DenisTangneyJr
Bartlesville has plenty to offer retirees with a wide range of interests, including interesting architecture, a museum packed with Western artifacts, and several scenic parks. And when the grandchildren come to visit, there’s Bartlesville Kiddie Park, with fun rides designed specifically with younger children in mind.
Population: 37,795
Median Household Income: $54,768
Cost of Living: 87% of U.S. average
Median Rent Price: $1,050
Home Price-to-Income Ratio: 3.04
Average Property Tax: 0.97% of home value
Housing Affordability: Whether you decide to rent or buy in Bartlesville, you can expect to find a home with an affordable monthly payment.
3. Lawton
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Ready to try your luck in Lawton? This diverse city in southwest Oklahoma is known for its rich Native American history, and it’s the home of the bustling Comanche Nation Casino, where retirees (and their visitors) can enjoy good food and good times. If you prefer the outdoors, you’ll find there are plenty of parks for picnicking and other activities.
Population: 91,542
Median Household Income: $48,718
Cost of Living: 90.2% of U.S. average
Median Rent Price: $895
Home Price-to-Income Ratio: 2.5
Average Property Tax: 1.210% of home value
Housing Affordability: If affordability is a top factor in your home search, Lawton is worth checking out. Though some neighborhoods are more expensive than others, the typical home value is less than $125,000. Rental costs are also much lower than in other areas in the state.
4. Piedmont
If your goal is to relax in retirement, picturesque Piedmont is known for its small-town charm and natural beauty. If you’re into the outdoors, you can get your fill of fishing, camping, and hiking. There’s plenty of shopping and dining right in Piedmont — or you can head to OKC for more adventures. Because Piedmont can be a bit pricier than other cities, it may be helpful to start the mortgage pre-approval process before you begin your search. That way you’ll have a better idea of how much house you can afford.
Population: 8,445
Median Household Income: $83,413
Cost of Living: 94% of U.S. average
Median Rent Price: $1,595
Home Price-to-Income Ratio: 3.8
Average Property Tax: 1.170% of home value
Housing Affordability: Whether you’re buying or renting, you may have to pay a bit more for a home in Piedmont than in other areas near Oklahoma City. But some Piedmont neighborhoods are less expensive than others, so you might be able to find a bargain out there.
5. Del City
Del City is another OKC suburb that can offer retirees a relaxing, slower-paced place to call home while remaining close to the city’s amenities. Health- and senior-care facilities are abundant here. And you’ll likely find home prices are lower in Del City than some other OKC suburbs.
Population: 21,388
Median Household Income: $45,587
Cost of Living: 82% of U.S. average
Median Rent Price: $1,200
Home Price-to-Income Ratio: 2.9
Average Property Tax: 1.2% of home value
Housing Affordability: Both home and rental prices are up year over year in Del City, but they remain far below the averages for the state and the U.S., and the price-to-income ratio is in the healthy range.
Best Places to Live in Oklahoma Near the Water
Living near the water in Oklahoma usually means living near one of the state’s 200+ lakes, many of which are teeming with fish. Waterside living is never a bargain, but these towns offer the most affordable options in what is, overall, a very affordable state.
1. Grove
If fishing and boating — or a beautiful water view — is a priority in your home search, you may want to put Grove on your house-hunting list. The small town is surrounded by Grand Lake, which is a professional bass fishing tournament lake and a recreational hotspot. There’s also a botanical garden, and lots to explore in Grand Lake State Park. And because Grove is popular with tourists in the summer months, there are plenty of bars and restaurants.
Population: 7,215
Median Household Income: $45,184
Cost of Living: 85% of U.S. average
Median Rent Price: $2,000
Home Price-to-Income Ratio: 5.9
Average Property Tax: 0.64% of home value
Housing Affordability: The home price-to-income ratio is higher in Grove than in many parts of Oklahoma, but you may find the views and lake access make it worth the extra cost.
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2. Ardmore
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There’s a little bit of everything in Ardmore: arts and culture, world-class golf courses, and diverse dining and shopping opportunities. And, of course, there’s beautiful Lake Murray, where you can swim, boat, and fish. Ardmore also is known for its health-care facilities and friendly neighborhoods. And the cost of living in Ardmore is lower than the overall cost of living in Oklahoma, and much lower than the U.S. average.
Population: 24,869
Median Household Income: $45,797
Cost of Living: 82% of U.S. average
Median Rent Price: $1,250
Home Price-to-Income Ratio: 3.1
Average Property Tax: 0.810% of home value
Housing Affordability: Rent and home prices in Ardmore have increased significantly over the past year, but average costs are still among the lowest in the state.
3. Medicine Park
Photo credit: iStock/raksyBH
Medicine Park started out as a resort town, and it’s still known for its beautiful lakes and great fishing. But it also has a vibrant downtown area with plenty of shopping and dining.
Population: 302
Median Household Income: $103,365
Cost of Living: 88.6% of U.S. average
Median Rent Price: $950
Home Price-to-Income Ratio: 2.3
Average Property Tax: 1.21%
Housing Affordability: Rentals can be hard to come by in tiny Medicine Park and the rental market is hot. Home values also rose year over year, but the price-to-income ratio remains in the healthy range.
4. Broken Bow
Photo credit: iStock/loki1982
The city of Broken Bow, in the southeast corner of Oklahoma, has its own 40-acre park with a stocked fishing pond, walking track, and more. It’s also near popular Broken Bow Lake, a thriving tourist destination that benefits businesses in Broken Bow (but can add to the traffic).
Population: 4,228
Median Household Income: $40,464
Cost of Living: 88.4% of U.S. Average
Median Rent Price: $1,000
Home Price-to-Income Ratio: 7.35
Average Property Tax: 0.460% of home value
Housing Affordability: Rentals can be scarce in Broken Bow, and home values are increasing, though they are still well below the U.S. average. You may have to search a bit to find a bargain.
5. West Siloam Springs
West Siloam Springs is known for its tight-knit community. Outdoor enthusiasts will love relaxing near the base of the 77-foot waterfall in Natural Falls State Park and exploring the park’s hiking trails. Or you can try your luck at the Cherokee Casino, where there’s live entertainment three nights a week.
Population: 1,280
Median Household Income: $51,602
Cost of Living: 83.5
Median Rent Price: $743
Home Price-to-Income Ratio: 4.36
Average Property Tax: 0.64% of home value
Housing Affordability: House-hunting may be a challenge in tiny West Siloam Springs, and the price-to-income ratio is a bit higher than in other locations. But if living near a breathtaking waterfall is your dream, you may want to check it out.
The Takeaway
The state of Oklahoma has something for just about everyone — whether you’re hoping to find a scenic place to relax and maybe go fishing, a quiet suburb with good schools and easy access to city amenities, or a home in a vibrant city that still offers a manageable cost of living.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% – 5%) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It’s online, with access to one-on-one help.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
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FAQ
What is the most affordable city in Oklahoma?
Alva, a suburb of Oklahoma City, is among the most affordable cities in Oklahoma, with a cost of living that is 18% lower than the U.S. average and a median home value of $96,744. Property taxes are also low in Alva.
Where is the least expensive place to live in Oklahoma?
Alva, Altus, Del City, Anadarko, and Clinton are among the Oklahoma cities with the lowest cost of living — but there are several affordable cities and towns worth checking out in the Sooner State.
Where is the best place to live near Oklahoma City?
Edmond, Choctaw, and The Village are all affordable OKC suburbs that have a lot to offer residents. Nichols Hills is another popular suburb near Oklahoma City, but home costs there can be significantly higher than other locations.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
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