How resilient is the Oklahoma City, OK housing market?
While the US residential housing market is recovering on a steady trajectory, the market still has not recovered to its pre-recession highs. The median home value in US is still only 86% of the nation's pre-recession high, and only 34% of homes have had their values surpass their pre-recession peak values, according to Trulia.
The Oklahoma City, OK metro seems to be an exception to the rule, with median home values reaching 110% of pre-recession peaks.
As a company providing lawn service to homes in Oklahoma City, OK, it is in our best interest to fully understand and track all changes within the region's housing market. So we decided to publish some of our research so those interested can better understand the Oklahoma City, OK housing market.
Methodology
We took historical data of Zillow's Housing Value Index - a measure for median home value - and adjusted the index for inflation using the Consumer Price Index (All Items Less Shelter), as recommended by the FHFA. We collected data at nationwide, state, metro and city levels.
From there, we compared current home values to their pre-recession peaks to understand how resilient the Oklahoma City, OK area is relative to Oklahoma, the US, and other metro areas. We summarized the findings in an interactive data visualization, found at the bottom of the page.
Key Findings
- The median home value in Oklahoma City, OK has reached $136k - 110% of the area's pre-recession peak of $124k.
- In terms of recovery, the region is ahead of the US and behind Oklahoma. Home values in these regions have reached 86% and 114% of peak values, respectively.
- Oklahoma City ranks #9 among top 100 metro areas in the country in terms of recovery, and #39 across all metros.
- Of metro areas in Oklahoma, Oklahoma City ranks #7 in terms of recovery.
Most Resilient Cities in the Oklahoma City, OK Metro Area
- Meeker
- Prague
- Purcell
- Goldsby
- Ninnekah
- Blanchard
- Luther
- Tuttle
- Newcastle
- Chickasha
Most Resilient Metros in OK
- Ada, OK
- Ardmore, OK
- Durant, OK
- McAlester, OK
- Bartlesville, OK
- Tahlequah, OK
- Oklahoma City, OK
- Tulsa, OK
- Elk City, OK
- Miami, OK
Areas we service near Oklahoma City