Best places to buy rental properties in Oklahoma

February 17, 2022
● Written by
Teddy

Oklahoma

Investing in Oklahoma

Oklahoma is located in the Great Plains and became the 46th state after the Oklahoma Territory combined with the Native American Territory. Today, several industries have a huge presence in Oklahoma including oil and gas, aviation, and agriculture. The oil and gas industry represents a huge part of Oklahoma's GDP, totaling more than $57 billion. Oklahoma has one of the lowest cost of living and a growing economy.

If you're looking to buy rental properties in Oklahoma, take a look at what we found. The Nophin team crunched the numbers and found the five best Oklahoma cities to invest in.

Statewide vacancy rates

OK Rental Vacancy Rate via Federal Reserve Bank of St. Louis

Oklahoma City, OK

Oklahoma City is the capital of Oklahoma and is home to the Oklahoma State University.

  • Population: 681,054
  • Median household income: $56,456
  • Median 1-bedroom monthly rent: $843
  • Median listing home price: $280,000

Tulsa, OK

Tulsa, also called the "Oil Capital of the World", is one of the first places where oil was widely discovered in the United States.

  • Population: 413,066
  • Median household income: $49,474
  • Median 1-bedroom monthly rent: $1,029
  • Median listing home price: $239,000

Edmond, OK

Edmond is located north of Oklahoma City and the fifth largest city in Oklahoma.

  • Population: 94,428
  • Median household income: $84,223
  • Median 1-bedroom monthly rent: $1,029
  • Median listing home price: $393,900

Norman, OK

Norman is home to the University of Oklahoma so it has a large student population. The city is also located in Tornado Alley so it'll be good to verify your insurance covers tornadoes, should you choose to invest here.

  • Population: 128,026
  • Median household income: $58,111
  • Median 1-bedroom monthly rent: $749
  • Median listing home price: $279,000

Yukon, OK

Yukon is considered the 17th safest place to live in the US for 2021-2022, according to Time Magazine.

  • Population: 23,630
  • Median household income: $72,065
  • Median 1-bedroom monthly rent: $900
  • Median listing home price: $299,900

Nophin is landlord banking and software for rental properties

With FDIC-insured bank accounts and cards that seamlessly integrate with easy-to-use software, Nophin helps landlords increase returns and automate rental property finances. Check out what we offer on the Nophin homepage!

Methodology

To help us determine the five best cities in all states, the Nophin team used data from several sources including the 2020 United States Census, the Department of Housing & Urban Development, Federal Reserve Economic Data (FRED), the National Association of REALTORS®, Zumper, internal data, and other reputable sources.

More posts

How the Inflation Reduction Act of 2022 impacts landlords

Three Challenges With Multifamily Real Estate

Reasons to Love Multifamily Real Estate

Best places to buy rental properties in Nebraska

Please note: Nothing above should be construed as legal, investment, tax, nor financial advice. This content is for informational purposes only. Consult a lawyer and/or an accountant if the above is right for your personal situation.

Automate your property banking and finances

You're on the list!
Oops, something went wrong! Please try again.