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Oklahoma real estate

Oklahoma – Better Bang for Your Buck?

With only the Red River sitting between it and Texas, you would think that some of Texas’ economic success would have rubbed off on Oklahoma.

But, unfortunately, that’s not the case – at least, it wasn’t during the recession.

After the housing bubble burst, Oklahoma went on to lose more than 94,000 jobs. The biggest chunk came from the construction industry. And if you lose thousands of construction workers, you can’t have a bunch of new homes going up!

So, what’s the story with homes for sale in Oklahoma today?

Oklahomans are ready for better days in 2013!

Perhaps the best measure of Oklahoma’s housing market can be found in Oklahoma City. After all, that’s the state’s capital and biggest city. There, you’ll find an inventory at 5.1 months. Realtors in Oklahoma generally consider an inventory of about six months – or the time it would take to sell all of the houses on the market, without adding any new ones – to be healthy. So, the inventory here is much better than it is in other parts of the country. In fact, some areas of the country only have an inventory of a month or two!

And, remember, Oklahoma’s economy revolves around oil, livestock, and natural gas – things that people have to buy, regardless of what the economy is doing. So, the economy here should be able to remain stable, meaning that the people here should be able to go out and buy homes if they want to.

If they decide to head out and buy, they’ll have new homes to choose from, too. Despite the hit that Oklahoma’s construction sector took during the recession, builders are still building. In fact, by the end of 2012, the number of permits applied for in Oklahoma City was up almost 30%.

One thing that could make a big difference? Dollars and cents. A recent study found that it’s actually cheaper to buy a home in Oklahoma City than it is to rent one!

Realtors in Tulsa, on the other hand, are keeping their eyes peeled on a local business deal. If AMR Corp. – the parent company of American Airlines – merges with US Airways Group Inc., it could mean big changes for the Tulsa operation. If jobs are lost in the deal, it could have a big impact on the local housing market.

Down in Norman, where college students play a much larger role in the housing market, thanks to the University of Oklahoma, rent prices are also much higher. Here, apartments for rent will cost you, on average, $767. That’s quite a bit for a college town! In fact, that’s actually a little higher than Oklahoma City!

Bottom line – if you plan on settling down in Oklahoma, take a long look at the homes for sale here. Your wallet may breathe a big sigh of relief!

Living in Oklahoma

If you’re looking for a place where the culture is as diverse as the weather, then you’re looking for Oklahoma!

Oklahomans come from all over, with German, Irish, Scottish, English, Mexican, and Native American family trees being the most prevalent. In fact, over two dozen Native American languages are spoken here!

As for the weather, it is some of the most varied – and most severe – in the country. Oklahoma lies right in the middle of “Tornado Alley”, and on average, more than 54 tornadoes hit this state every year. That’s due in large part to the extreme hot and cold temperatures that are ripe for severe weather.

But before you pack your tornado supplies, here are Oklahoma’s fast facts:

  • What is the population of Oklahoma?
  • The population of Oklahoma is 3,814,820
  • What is the capital of Oklahoma?
  • The capital of Oklahoma is Oklahoma City
  • What is the largest city in Oklahoma?
  • The largest city in Oklahoma is Oklahoma City

Oklahoma is a major oil producer, and some of the country’s biggest oil companies are headquartered in Oklahoma City. This state also has a major agriculture industry. Because Interstates 35, 40, and 44 all pass through it, Oklahoma is a major thoroughfare for products that are manufactured all over the country.

Away from work, Oklahomans love watching sports – with the Oklahoma Sooners and Oklahoma State Cowboys typically getting top billing. The Oklahoma City Thunder have also become incredibly popular in recent years.

If you’re not a sports fan, there is plenty to do, like heading to one of the many festivals. Oklahoma City plays host to the Oklahoma State Fair every year, and Tulsa hosts the Tulsa State Fair and Tulsa Oktoberfest every year. If you’re a music lover, you won’t want to miss the Norman Music Festival, which highlights local bands.

Want to learn more about Oklahoma’s history? You can spend days wandering around all 18-acres of the Oklahoma History Center and still not see everything!

If you want to get out and about, spend some time in one of Oklahoma’s four mountain ranges. There are also enough lakes here to create more shoreline than the Gulf and east coasts combined!

This is the Census data for Oklahoma

Population

Total population estimate for Oklahoma (July 1) 2012
3,814,820
Total population change for Oklahoma- April 1, 2010 to July 1, 2012
1.7%

Age

Percentage of the population that's under 5 years old in Oklahoma, 2011
7.0%
Percentage of the population that's under 18 years years old in Oklahoma, 2011
24.7%
Percentage of the population that's 65 years and over Oklahoma, 2011
13.7%

Gender

Percentage of the population that are females in Oklahoma, 2011
50.5%

Race breakdown for Oklahoma in percentages

White alone, 2011
75.8%
Black alone, 2011
7.7%
American Indian and Alaska Native alone,2011
8.9%
Asian alone, percent, 2011
1.8%
Native Hawaiian and Other Pacific Islander alone, 2011
0.1%
Two or more races, 2011
5.7%
Hispanic or Latino Origin, 2011
9.2%
Not Hispanic, White alone, 2011
68.2%

A little more about the residents of Oklahoma

Percentage of residents who lived in the same house 1 year ago, 2007-2011
81.6%
Percent of residents who are foreign born 2007-2011
5.4%
Percent speaking a language other than English at home, 2007-2011
9.0%

Education

Percent high school graduates or higher for residents 25 years old and over in Oklahoma, 2007-2011
85.9%
Percent with a bachelor's degree or higher for residents 25 years old and over in Oklahoma, 2007-2011
23.0%

Veterans

Total number of Veterans living in Oklahoma 2007-2011
324,143

Communting

The average travel time to work for workers in Oklahoma (16 years and over not working at home), 2007-2011
20.9 mins

Real estate stats in Oklahoma

Housing unit estimates, 2011
1,674,685
Owner-occupied housing units - percent of total occupied housing units, 2007-2011
67.8%
Housing units by units in structure - multi-dwelling structure, percent, 2007-2011
15.2%
Median value of specified owner-occupied housing units, 2007-2011
$108,400.00
Households, 2007-2011
1,432,735
Average household size, 2007-2011
2.52

Income

Per capita income for Oklahoma in the past 12 months (in 2011 inflation-adjusted dollars), 2007-2011
$23,770.00
Median household income in Oklahoma, 2007-2011
$44,287.00
Percentage of people living in poverty in Oklahoma 2007-2011
16.3%

Business and commerce info for Oklahoma

Private nonfarm establishments, 2010
90,050
Private nonfarm employment for pay period including March 12, 2010
1,241,168
Private nonfarm employment for pay period including March 12, 2010, percent change, 2000-2010
3.3%
Total number of businesses in Oklahoma, 2007
333,797
Percentage of Black-owned businesses in Oklahoma, 2007
3.1%
Percentage of American Indian- and Alaska Native-owned businesses in Oklahoma , 2007
6.3%
Percentage of Asian-owned businesses in Oklahoma, 2007
2.0%
Percentage of Native Hawaiian- and Other Pacific Islander-owned businesses in Oklahoma, 2007
NA
Percentage of Hispanic-owned businesses in Oklahoma, 2007
2.3%
Percentage of Women-owned businesses in Oklahoma, 2007
25.3%

Land size and population

Size of Oklahoma in Square Miles, 2010
68,594.92 mi²
Population per square mile in Oklahoma, 2010
54.7

Oklahoma real estate

Nichols Hills

Other City - Not In The State Of Florida

Outside Area (Outside Ca)

Pauls Valley

Proctor