Oklahoma remains a sought-after housing destination
Published: Tuesday, October 6, 2020 By: Chamber Staff Source: VeloCityOklahoma continues as one of the hottest housing markets in the United States and is a sought-after destination for first-time home ownership or those looking to downsize in retirement, according to a survey released by a personal financial service.
The Accent, a subsidiary of Motley Fool, compared a state’s median housing price to the median family income and mortgage interest rates.
Oklahoma ranked as the 4th most affordable state with an average home value of $134,289. Only Arkansas ($131,837), Mississippi ($126,511) and West Virginia ($107,064) have lower home values. A medium home value in Oklahoma City is $142,220.
A combination of low interest rates and high demand has seen prices rise by 5% this year alone, according to a mortgage analyst.
The table below represents the top 10 most affordable states. The complete rankings can be found at www.fool.com.
Top 10 States with most affordable housing |
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Rank |
State |
Home Value |
1 |
West Virginia |
$107,064 |
2 |
Mississippi |
$126,511 |
3 |
Arkansas |
$131,837 |
4 |
Oklahoma |
$134,289 |
5 |
Alabama |
$147,539 |
6 |
Kentucky |
$150,918 |
7 |
Kansas |
$154,531 |
8 |
Iowa |
$155,781 |
9 |
Ohio |
$156,343 |
10 |
Indiana |
$161,106 |