Income needed to buy a house in Oklahoma
A median-priced home in Oklahoma costs $222,100. With 20% down you'd need about $65,813 a year, within reach of the state's median household income of $66,148. Oklahoma ranks #7 of 51 for the lowest income needed.
Income needed: $65,813 a year
Defaults: state median home value and property tax (Census ACS 2024), median homeowners insurance paid by owners with a mortgage (Census ACS 2024; quotes vary by home and ZIP code), 30-year rate 7.24% (Freddie Mac, week of 2026-10-29).
Estimated household income: about $65,813 a year for a $222,100 home in Oklahoma with $44,420 down.
Uses a 28/36 planning rule: modeled housing costs at 28% of gross income, housing plus other debt payments at 36%. Mortgage approval depends on the lender, loan program, credit and other circumstances. Excludes maintenance, repairs and utilities.
| Monthly cost | Amount |
|---|---|
| Principal & interest | $1,211 |
| Property tax | $139 |
| Homeowners insurance | $185 |
| Total | $1,536 |
Monthly cost by down payment
| Down payment | Cash down | Monthly cost | Income needed |
|---|---|---|---|
| 5% | $11,105 | $1,851 | $79,311 |
| 10% | $22,210 | $1,770 | $75,869 |
| 20% | $44,420 | $1,536 | $65,813 |
Income benchmarks use the 28/36 planning rule with no HOA or other debt payments. Mortgage approval depends on the lender and loan program. Monthly costs exclude maintenance, repairs and utilities. Under 20% down includes estimated private mortgage insurance of 0.5% of the loan per year.
Buying in Oklahoma: what's different
- Transfer tax
- 0.15% documentary stamps
- On the median home
- $330
- Homestead break
- $1,000 off assessed value
- First-time buyer help
- Oklahoma Housing Finance Agency
- Transfer and recording taxes. The documentary stamp tax is 75 cents per $500 of the price (0.15%), paid when the deed is recorded. On the median Oklahoma home ($222,100), that's about $330 in documentary stamp tax.
- Property tax breaks for your home. The homestead exemption takes $1,000 off assessed value, and lower-income households can claim a second $1,000. You must own and live in the home on January 1 and apply with the county assessor by March 15.
- First-time buyer help. The Oklahoma Housing Finance Agency offers the Homebuyer Down Payment Assistance program through participating lenders. Check its site for income and price limits.
Checked against official sources on September 25, 2026. Local transfer taxes and exemptions vary, so confirm with the county before you close.
Home prices in the Oklahoma metro areas we cover
| Metro area | Income needed | Median home value | Median household income |
|---|---|---|---|
| Oklahoma City, OK | $75,244 | $253,200 | $72,930 |
| Tulsa, OK | $72,916 | $247,500 | $69,658 |
With 20% down, the median home takes about $72,916 a year in the Tulsa area and $75,244 in the Oklahoma City area, compared with $65,813 for the statewide median.
Metro medians from Census ACS 2024 cover the whole metro area, including any part in a neighboring state. Income needed: 20% down at 7.24%, the metro's median property tax and its main state's median homeowners insurance for homes with a mortgage (Census ACS 2024), under the 28% rule.
What makes owning in Oklahoma less expensive than most states
- Home prices: the median value of $222,100 is 38% below the U.S. median of $360,600.
- Property tax: about 0.75% of value a year ($139 a month on the median home).
- Insurance: owners with a mortgage paid a median $2,225 a year for homeowners insurance in 2024 (Census ACS). Premiums have risen in most states since then, and they vary a lot by home and ZIP code, so get quotes.
- Mortgage rate: each 1-point rise in rates adds roughly $123 a month on this loan.
1 state needs at least 20% less income to buy its median home. States with a similar income requirement:
Frequently asked questions
How much do you need to make to buy a house in Oklahoma?
About $65,813 a year for the median home of $222,100 with 20% down at 7.24%. With 10% down it's about $75,869.
What is the property tax rate in Oklahoma?
The median Oklahoma homeowner pays $1,672 a year, about 0.75% of the median home value (Census ACS 2024). Rates vary by county and city.
Is it cheaper to rent or buy in Oklahoma?
Median rent is $1,044 a month, while owning the median home costs about $1,536 a month with 20% down, before maintenance. Renting affordably takes about $41,760 a year under the 30% rule.