Top 5 Residential Real Estate Investment Markets in Oklahoma

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By Trent Seigfried Updated June 6, 2024
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Edited by Michael Yessis

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Sulphur is home to the best residential real estate investment market in Oklahoma.

The 73086 zip code in Sulphur presents the greatest opportunity for investors among the 708 individual real estate markets in Oklahoma we evaluated. We looked at property values, population trends, and six other metrics for each market. We used that data to calculate each market's InvestScore.

Top 5 Oklahoma residential real estate markets

RankCity InvestScore Affordability Property value appreciation
1Sulphur1002.460.97%
2Okemah96.12.885.71%
3Pauls Valley942.665.97%
4Wellston91.62.961.73%
5Shawnee91.52.469.21%
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1. Sulphur

We've identified the 73086 zip code in Sulphur as Oklahoma's best real estate investment market. Here's why.

πŸ”Ž Key data about Sulphur

Data pointValueRank in state (of 708 markets)
Zip code73086N/A
InvestScore 100Highest
Typical property value $146,306[1]53rd lowest
Five-year appreciation 60.97%[2]42nd highest
Household income $60,616[3]70th highest
Affordability ratio 2.426th most affordable
Five-year population growth 0.1%[4]102nd highest
Unemployment rate 0.4%[5]2nd lowest
Property taxes $633[6]23rd lowest
Educational attainment 18.4%[7]119th highest
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Sulphur (zip code 73086) is the best residential real estate investment market in Oklahoma. It has the 42nd highest property value appreciation among markets we evaluated, with a 60.97% appreciation of the typical property over the last five years.

Sulphur is the 26th most affordable market among the 708 Oklahoma markets we evaluated, with an affordability ratio of 2.4.

2. Okemah

The 74859 zip code in Okemah is Oklahoma's second-best residential real estate investment market.

πŸ”Ž Key data about Okemah

Data pointValueRank in state (of 708 markets)
Zip code74859N/A
InvestScore 96.12nd highest
Typical property value $112,904[8]30th lowest
Five-year appreciation 85.71%[9]4th highest
Household income $40,560[10]166th highest
Affordability ratio 2.853rd most affordable
Five-year population growth -0.6%[11]116th highest
Unemployment rate 2.9%[12]25th lowest
Property taxes $554[13]11th lowest
Educational attainment 14.8%[14]139th highest
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The 74859 zip code in Okemah features a typical property value of $112,904, the 30th lowest in the state.

Property values have appreciated 85.71% over the past five years, the 4th highest increase among evaluated markets in the state. Okemah homes have an affordability ratio of 2.8, the 53rd most affordable in the state.

3. Pauls Valley

The 73075 zip code in Pauls Valley comes in at No. 3 in our ranking of residential real estate investment markets in Oklahoma.

πŸ”Ž Key data about Pauls Valley

Data pointValueRank in state (of 708 markets)
Zip code73075N/A
InvestScore 943rd highest
Typical property value $129,009[15]44th lowest
Five-year appreciation 65.97%[16]28th highest
Household income $49,175[17]130th highest
Affordability ratio 2.642nd most affordable
Five-year population growth -0.8%[18]118th highest
Unemployment rate 2.1%[19]10th lowest
Property taxes $724[20]30th lowest
Educational attainment 15.6%[21]135th highest
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With a typical property value of $129,009, Pauls Valley's 73075 zip code features the 44th lowest property values in the state.

Pauls Valley homes have an affordability ratio of 2.6, the 42nd most affordable among the markets we evaluated.

4. Wellston

The 74881 zip code in Wellston ranks No. 4 among Oklahoma's residential real estate investment markets.

πŸ”Ž Key data about Wellston

Data pointValueRank in state (of 708 markets)
Zip code74881N/A
InvestScore 91.64th highest
Typical property value $161,786[22]66th lowest
Five-year appreciation 61.73%[23]41st highest
Household income $55,569[24]41st highest
Affordability ratio 2.966th most affordable
Five-year population growth 3.3%[25]72nd highest
Unemployment rate 2.4%[26]13rd lowest
Property taxes $736[27]32nd lowest
Educational attainment 14.5%[28]140th highest
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Property values in Wellston's 74881 zip code have seen the 41st highest increase among evaluated markets in the state, with an appreciation of 61.73% over the past five years.

Wellston's affordability ratio of 2.9 makes it the 66th most affordable among the 708 markets we evaluated.

5. Shawnee

The 74801 zip code in Shawnee rounds out our top five residential real estate investment markets in Oklahoma.

πŸ”Ž Key data about Shawnee

Data pointValueRank in state (of 708 markets)
Zip code74801N/A
InvestScore 91.55th highest
Typical property value $125,110[29]41st lowest
Five-year appreciation 69.21%[30]22nd highest
Household income $52,658[31]22nd highest
Affordability ratio 2.425th most affordable
Five-year population growth 0.2%[32]101st highest
Unemployment rate 6%[33]125th lowest
Property taxes $871[34]47th lowest
Educational attainment 21.8%[35]92nd highest
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Property values in Shawnee's 74801 zip code rose 69.21% over the last five years, ranking the city 22nd highest among evaluated markets in Oklahoma.

Shawnee homes have an affordability ratio of 2.4, the 25th most affordable among the markets we evaluated.

How we rank residential real estate markets in Oklahoma

We evaluated 708 markets on eight metrics, and then assigned an InvestScore based on their weighted and combined rankings. Each market corresponds to a specific zip code in Oklahoma.

What is InvestScore?

InvestScore is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the residential real estate investment potential of a given market. It takes into account a suite of key data points for each city.

  • Typical property value: This measures the typical home value in this zip code, according to the Zillow Home Value Index. It reflects the typical value for homes in the 35th to 65th percentile range, including all homes, with the numbers smoothed and seasonally adjusted. We prefer lower property values, which indicate both more room for growth and a greater ease of purchase. We assign a weight of 20% to typical property values.
  • Property value appreciation: This measures how much property values have increased in the area over the past five years, according to the Zillow Home Value Index. We prefer a higher appreciation, as it indicates better returns on housing. However, past performance isn't indicative of future results. We assign a weight of 20% to property value appreciation.
  • Median household income: This is the inflation-adjusted median household income in the zip code, according to U.S. Census American Community Survey data. We prefer a higher household income, as it indicates local residents have more income to spend on housing. We assign a weight of 10% to median household income.
  • Affordability ratio: This is the ratio of the typical home value to the median household income in the area. A lower ratio is better because it means more households can afford a home, which indicates higher demand. We assign a weight of 15% to the affordability ratio.
  • Population growth: This is how much the area's population has grown over the past five years, according to U.S. Census estimates. Higher is better, as it indicates residents are moving into the area at a rapid clip. We assign a weight of 10% to population growth.
  • Unemployment rate: This is the unemployment rate in the area, according to U.S. Census data. We prefer a lower rate, as it indicates the availability of steady employment in the area, meaning residents will find it much easier to afford homes. We assign a weight of 15% to unemployment rate.
  • Property tax: This is the median real estate property tax paid in the area, according to U.S. Census estimates. We assign a weight of 10% to property tax.
  • Educational attainment: This is the percentage of residents in the area that have obtained a bachelor's degree or better, according to U.S. Census estimates. We prefer a higher rate because it indicates  local residents who have higher earning potential and thus should be able to afford homes. We assign a weight of 15% to educational attainment.

Disclaimer: The information contained in this article isn't intended as, and shall not be understood or constituted as, financial advice. The information in this article isn't a substitute for financial advice from an investment professional or real estate agent who is aware of the facts and circumstances of your financial situation or the specifics of any individual property.

Article Sources

[1] Zillow – "Zillow Home Value Index". Updated March 31, 2024.
[2] Zillow – "Zillow Home Value Index, difference over last five years". Updated March 31, 2024.
[7] U.S. Census – "U.S. Census Table S1501 - Educational Attainment 2018-2022". Updated 2018-2022.
[8] Zillow – "Zillow Home Value Index". Updated March 31, 2024.
[9] Zillow – "Zillow Home Value Index, difference over last five years". Updated March 31, 2024.
[14] U.S. Census – "U.S. Census Table S1501 - Educational Attainment 2018-2022". Updated 2018-2022.
[15] Zillow – "Zillow Home Value Index". Updated March 31, 2024.
[16] Zillow – "Zillow Home Value Index, difference over last five years". Updated March 31, 2024.
[21] U.S. Census – "U.S. Census Table S1501 - Educational Attainment 2018-2022". Updated 2018-2022.
[22] Zillow – "Zillow Home Value Index". Updated March 31, 2024.
[23] Zillow – "Zillow Home Value Index, difference over last five years". Updated March 31, 2024.
[28] U.S. Census – "U.S. Census Table S1501 - Educational Attainment 2018-2022". Updated 2018-2022.
[29] Zillow – "Zillow Home Value Index". Updated March 31, 2024.
[30] Zillow – "Zillow Home Value Index, difference over last five years". Updated March 31, 2024.
[35] U.S. Census – "U.S. Census Table S1501 - Educational Attainment 2018-2022". Updated 2018-2022.

Authors & Editorial History

Our experts continually research, evaluate, and monitor real estate companies and industry trends. We update our articles when new information becomes available.

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