When people think of Oklahoma, thoughts of Casinos, Bull Riding, legendary Oklahoma University Football, and dirt track racing come to mind. If topics like these sound exciting and you have ideas of moving, you will be thrilled to know that Oklahoma’s real estate prices are much lower than the national average.
Once known as the Indian Territory, Native Americans and their culture heavily influence Oklahoma. This give the state a unique relaxed atmosphere with even Oklahoma City feeling less hectic than most cities. As to the geography, plains make up much of the state, but rolling hills can be found around the northern areas of Tulsa. Lakes can be found throughout the state, which provide plenty of opportunities for fishing, hiking and outdoor activities. All and all, Oklahoma offers a relaxed, inexpensive relocation option for potential homebuyers.
Oklahoma City is the largest city in the state and is typical of a Midwestern city. The city has seen a revitalization effort, but still maintains a certain relaxed atmosphere that is unique to the state. Unfortunately, Oklahoma City was also the location of the terrorist bombing of the Alfred P. Murrah Federal Building in 1995. Museums and memorials have been set up in remembrance for the loss of life.
Tulsa is an odd city because of two contrasting influences. On one hand, Tulsa has a pretty impressive art movement involving building architecture, museums and art galleries. On the other hand, Tulsa is an extremely conservative Christian town and is often considered to be the heart of the Bible belt. Despite these apparent contrasts, everything meshes incredibly well.
Oklahoma Real Estate
Oklahoma real estate prices are universally on the low end of national prices. A single-family home in Oklahoma City and the suburbs will cost $185,000 on average. The same home will set you back roughly $145,000 in Tulsa.
With such low prices, one can’t expect to see a soaring appreciation rate for Oklahoma real estate. In 2005, property appreciated at a little over five percent.