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
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
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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.