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Commonly Asked Questions about Oklahoma Real Estate

Oklahomas cost of living is low in two primary areas: housing and transportation. Real estate is at a surplus within Oklahoma, making it easier for families to afford larger homes for less. Further, gas prices are exceptionally low in Oklahoma, now more than ever.
The cost of living in Oklahoma is 12% lower than the national average. Housing is 28% lower than the national average, while utilities are 4% lower. When it comes to basic necessities such as food and clothing, groceries are around 7% lower than in the rest of the country, while clothing costs 7% lower.
When comparing Texas and Oklahoma, the good news is that a relocation to Oklahoma is likely to save you money. The state as a whole is 10.2 percent less expensive than Texas. Plan to save on everything from food to housing and transportation.
New research published this week shows Oklahoma has the lowest overall cost of living among the 50 states. Total annual expenditures for the average family in Oklahoma is $62,900 or 14.8% lower than the national average, ing to the report from GOBankingRate.
In Oklahoma, the study found that the annual cost of living for the average family is $62,898. Thats 14.8% lower than the national average of $72,967. Annually, housing costs are 32% lower than the national average in the Sooner State, grocery costs are 6% lower and utility costs are 2% lower, ing to the study.
How Much Money Do You Need to Live Comfortably in Oklahoma? MITs Living Wage Calculator lists the living wage for a single individual in Oklahoma as $32,219 per year, or $15.49 per hour.
Home values in Oklahoma increased around 50% in the last 5 years, so this is a strong market. Mortgage rates also continue to decline as experts predicted going from almost 8% in October 2023 to around 7% in todays market. More stabilization appears to be in the cards for the future as well.