CALCMONEY // HOME AFFORDABILITY // OK // OKLAHOMA CITY
How much house can you afford in Oklahoma City? Based on local median home prices, current OK mortgage rates, and Oklahoma City property tax data.
$215,000
$1,434/mo
$61,465/yr
$199,734
Monthly housing costs of $1,434 represent 29.7% of Oklahoma City's median gross monthly income ($4,833/mo). At 29.7%, this slightly exceeds the 28% rule. Buyers need above-median income or a 25%+ down payment to qualify comfortably.
| Median Home Price | $215,000 |
| Down Payment (20%) | $43,000 |
| Loan Amount | $172,000 |
| Monthly PI Payment | $1,139 |
| Monthly Property Tax | $206 |
| Monthly Insurance Est. | $90 |
| Total Monthly PITI | $1,434 |
| Housing Cost % of Income | 29.7% |
| Required Income (28% rule) | $61,465/yr |
| Max Affordable Home | $199,734 |
$7,525
$1,816/mo
Oklahoma City Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $215,000 | Oklahoma City city median |
| Down Payment (20%) | $43,000 | Conventional loan |
| Monthly PITI | $1,434 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $61,465 | Annual gross |
| Max Affordable Home | $199,734 | Based on median income |
| FHA Down (3.5%) | $7,525 | Minimum FHA |
| Housing Cost % of Income | 29.7% | Median income: $58,000/yr |
| Property Tax Rate | 1.15% | $2,472/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Oklahoma City is $215,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $172,000, generating a monthly P&I payment of $1,139. Adding property taxes ($206/mo) and homeowners insurance ($90/mo) brings total monthly PITI to $1,434.
Oklahoma City's property tax rate of 1.15% is near the national average, adding a standard increment to monthly housing costs. On the Oklahoma City median home, that is $206/month, or $2,472 per year.
Oklahoma levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Oklahoma City should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Oklahoma City's median income of $58,000/year can afford up to $1,353/month in total housing costs. Based on Oklahoma City's mortgage rate of 6.95% and property tax rate of 1.15%, that translates to a maximum affordable home price of approximately $199,734 with 20% down on a 30-year loan.
To afford the median Oklahoma City home priced at $215,000, you need an annual gross income of approximately $61,465. Total monthly housing costs (principal and interest of $1,139, property taxes of $206, and insurance of $90) come to $1,434/month, which equals 28% of the required income.
At the median home price of $215,000 and median household income of $58,000, the total monthly housing cost of $1,434 represents 29.7% of gross monthly income. This slightly exceeds the standard 28% rule. Buyers will need above-median income or a larger down payment to stay within guidelines.
A conventional 20% down payment on the median Oklahoma City home of $215,000 is $43,000. An FHA loan requires just 3.5% down — $7,525 — but adds mortgage insurance of roughly $147/month, bringing total FHA payments to $1,816/month.