The 10 Most Affordable Places to Live in Oklahoma

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By Michael Yessis Updated June 13, 2024
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Edited by Ashley Simon

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The 73507 zip code in Lawton tops our ranking of the most affordable places to live in Oklahoma.

We looked at 123 zip codes in the state, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.  

Top 10 most affordable places to live in Oklahoma

RankCity Affordability Score Median home valueRental costs
1Lawton 🥇100$117,088$931
2Enid🥈97.9$70,068$1,361
3Woodward 🥉97.0$126,204$1,361
4Ponca City95.7$78,790$1,361
5Altus95.7$102,152$1,361
6Cushing93.4$119,850$1,361
7Bartlesville92.5$98,347$1,016
8Guymon92.0$155,462$1,361
9Ada91.0$173,984$860
10Elk City90.6$151,988$1,361
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1. Lawton

Here's why the 73507 zip code in Lawton is Oklahoma's most affordable place to live.

🔎 Key data about Lawton

Data pointValueRank (out of 123 markets)Difference from median or average
Affordability Score 100 No. 1N/A
Median home value $117,088[1]No. 19 -$100,523.36
Home affordability ratio 1.8No. 4-1.4
Home value five-year change 33.8%[2]No. 8-14.1%
Home value one-year forecast -1.2%[3]No. 14-0.5%
Rental costs $931[4]No. 7-$431
Rent affordability ratio 1.46%No. 1-0.6%
Median household income $63,924[5]No. 47-$2,637
Property taxes $1,309[6]No. 50-$440
Energy costs $0.12 kWh[7]No. 1$0.00
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Lawton's 73507 zip code is the cheapest place to live in Oklahoma, leading the 123 markets we evaluated. 

The median home value is $117,088, making it the 19th-cheapest housing market in the state. Forecasts project a -1.2% change in home values in the next year. Rent in the zip code averages $931 per month, which is the 1st cheapest amount in Oklahoma.

The median property tax for homeowners in Lawton is $1,309 per household, the No. 50 ranked market in Oklahoma. 

Residents pay $0.12 per kWh of electricity, which ranks No. 1 among Oklahoma markets.

2. Enid

The 73701 zip code is the 2nd-cheapest place to live in Oklahoma.

🔎 Key data about Enid

Data pointValueRank (out of 123 markets)Difference from median or average
Affordability Score 97.9No. 2N/A
Median home value $70,068[8]No. 1-$147,543.37
Home affordability ratio 1.3No. 1-1.9
Home value five-year change 17.1%[9]No. 2-30.8%
Home value one-year forecast -4.8%[10]No. 2-4.1%
Rental costs $1,361[11]No. 51$0
Rent affordability ratio 2.05%No. 370.0%
Median household income $52,081[12]No. 83-$14,480
Property taxes $745[13]No. 15-$1,004
Energy costs $0.13 kWh[14]No. 58$0.00
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Enid's 73701 zip code has a median home value of $70,068, which is the 2nd-cheapest housing market in Oklahoma. You can rent for an average of $1,361 per month. That's the 51st-cheapest price in the state.

The average household income in the zip code is $52,081, which ranks 83rd-highest in the state. 

Homeowners in Enid pay a median property tax of $745 per year, making it the 15th-most affordable market in Oklahoma.

Enid ranks No. 58 among Oklahoma energy markets. You'll pay $0.13 per kWh of electricity.

3. Woodward

The 3rd-cheapest place to live in Oklahoma is Woodward's 73801 zip code.

🔎 Key data about Woodward

Data pointValueRank (out of 123 markets)Difference from median or average
Affordability Score 97.0No. 3N/A
Median home value $126,204[15]No. 22-$91,407.17
Home affordability ratio 2.1No. 6-1.2
Home value five-year change 11.3%[16]No. 1-36.7%
Home value one-year forecast -5.6%[17]No. 1-4.9%
Rental costs $1,361[18]No. 51$0
Rent affordability ratio 2.05%No. 370.0%
Median household income $60,556[19]No. 52-$6,005
Property taxes $974[20]No. 33-$775
Energy costs $0.12 kWh[21]No. 44$0.00
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The No. 22 cheapest housing in Oklahoma is Woodward's 73801 zip code, with a median home value of $126,204. Rents in the market average $1,361 per month, making it the 51st-most affordable rental market in the state.

The median property tax for households in Woodward is $974, which makes it the 33rd-cheapest place in Oklahoma. Woodward ranks No. 44 among Oklahoma markets by energy costs. Residents pay $0.12 per kWh of electricity.

4. Ponca City

The 74601 zip code in Ponca City comes in at No. 4 on our list of the cheapest places to live in Oklahoma.

🔎 Key data about Ponca City

Data pointValueRank (out of 123 markets)Difference from median or average
Affordability Score 95.7No. 4N/A
Median home value $78,790[22]No. 2-$138,821.59
Home affordability ratio 1.7No. 3-1.6
Home value five-year change 36.9%[23]No. 15-11.1%
Home value one-year forecast -2.7%[24]No. 5-2.0%
Rental costs $1,361[25]No. 51$0
Rent affordability ratio 2.05%No. 370.0%
Median household income $46,365[26]No. 106-$20,196
Property taxes $612[27]No. 8-$1,137
Energy costs $0.13 kWh[28]No. 58$0.00
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The No. 2 cheapest housing market in Oklahoma is Ponca City's 74601 zip code, where the median home value is $78,790. Renters here pay an average of $1,361 per month. 

When it comes to energy costs, Ponca City ranks 58th among Oklahoma markets. Residents pay $0.13 per kWh of electricity.

The median property tax for households in the zip code is $612, which makes it the 8th-cheapest market in Oklahoma.

5. Altus

The 73521 zip code in Altus ranks No. 5 among Oklahoma's most affordable places to live.

🔎 Key data about Altus

Data pointValueRank (out of 123 markets)Difference from median or average
Affordability Score 95.7No. 5N/A
Median home value $102,152[29]No. 10-$115,459.73
Home affordability ratio 1.7No. 2-1.6
Home value five-year change 35.4%[30]No. 11-12.6%
Home value one-year forecast -1.7%[31]No. 12-1.0%
Rental costs $1,361[32]No. 51$0
Rent affordability ratio 2.05%No. 370.0%
Median household income $61,441[33]No. 51-$5,120
Property taxes $943[34]No. 30-$806
Energy costs $0.12 kWh[35]No. 1$0.00
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Altus's 73521 zip code has a median home value of $102,152, the 10th-cheapest market in the state. Forecasts project a -1.7% change in home values in the next year. 

The median property tax per household in Altus is $943. It's the 30th-cheapest market by tax rate in Oklahoma.

6. Cushing

The No. 6 most affordable place to live in Oklahoma is the 74023 zip code.

🔎 Key data about Cushing

Data pointValueRank (out of 123 markets)Difference from median or average
Affordability Score 93.4No. 6N/A
Median home value $119,850[36]No. 20-$97,761.45
Home affordability ratio 2.3No. 11-1.0
Home value five-year change 41.3%[37]No. 22-6.7%
Home value one-year forecast -2.2%[38]No. 8-1.5%
Rental costs $1,361[39]No. 51$0
Rent affordability ratio 2.05%No. 370.0%
Median household income $51,848[40]No. 84-$14,713
Property taxes $905[41]No. 29-$844
Energy costs $0.13 kWh[42]No. 58$0.00
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The back half of our top 10 kicks off with Cushing's 74023 zip code, which has the 20th-cheapest home values in Oklahoma. The median home value is $119,850. Rents average $1,361 per month, making it the 51st-most affordable rental market in the state.

Residents pay $0.13 per kWh of electricity. It's the 58th-cheapest energy market.

7. Bartlesville

Bartlesville's 74003 zip code is the 7th-cheapest place to live in Oklahoma.

🔎 Key data about Bartlesville

Data pointValueRank (out of 123 markets)Difference from median or average
Affordability Score 92.5No. 7N/A
Median home value $98,347[43]No. 7-$119,263.75
Home affordability ratio 2.1No. 7-1.2
Home value five-year change 42.0%[44]No. 24-6.0%
Home value one-year forecast -1.2%[45]No. 14-0.5%
Rental costs $1,016[46]No. 10-$345
Rent affordability ratio 2.17%No. 920.1%
Median household income $46,721[47]No. 103-$19,840
Property taxes $856[48]No. 24-$893
Energy costs $0.12 kWh[49]No. 1$0.00
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You'll find the 7th-cheapest home values in Oklahoma in Bartlesville's 74003 zip code. The median value: $98,347. Renters in Bartlesville pay an average of $1,016 per month.

Homeowners in Bartlesville pay a median property tax of $856 per year, which is Oklahoma's 24th-most affordable market.

The average household income is $46,721, which ranks 103rd-highest in the state.

8. Guymon

The 8th-cheapest place to live in Oklahoma is Guymon's 73942 zip code.

🔎 Key data about Guymon

Data pointValueRank (out of 123 markets)Difference from median or average
Affordability Score 92.0No. 8N/A
Median home value $155,462[50]No. 37-$62,149.38
Home affordability ratio 2.8No. 32-0.5
Home value five-year change 27.9%[51]No. 5-20.1%
Home value one-year forecast -2.4%[52]No. 7-1.7%
Rental costs $1,361[53]No. 51$0
Rent affordability ratio 2.05%No. 370.0%
Median household income $55,401[54]No. 69-$11,160
Property taxes $1,109[55]No. 40-$640
Energy costs $0.13 kWh[56]No. 56$0.00
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The 37th-cheapest housing market in Oklahoma is Guymon's 73942 zip code, with a median home value of $155,462. Renters pay an average of $1,361 per month, the No. 51 rental market in the state.

The median property tax for households in Guymon is $1,109, which makes it the 40th-cheapest place in Oklahoma. The average household income of $55,401 ranks 69th.

9. Ada

Ada's 74820 zip code sneaks into the top ten of Oklahoma's most affordable places to live.

🔎 Key data about Ada

Data pointValueRank (out of 123 markets)Difference from median or average
Affordability Score 91.0No. 9N/A
Median home value $173,984[57]No. 45-$43,627.63
Home affordability ratio 3.0No. 42-0.3
Home value five-year change 52.9%[58]No. 784.9%
Home value one-year forecast -0.4%[59]No. 750.3%
Rental costs $860[60]No. 1-$501
Rent affordability ratio 1.47%No. 3-0.6%
Median household income $58,703[61]No. 54-$7,858
Property taxes $1,082[62]No. 36-$667
Energy costs $0.13 kWh[63]No. 58$0.00
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The 45th-cheapest housing market in Oklahoma is Ada's 74820 zip code, where the median home value is $173,984. Renters pay an average of $860 per month. It's the state's 1st-cheapest rental market.

The median property tax for households within the zip code is $1,082, which makes it the 36th-cheapest property tax rate in Oklahoma. 

10. Elk City

The final spot on our list of the most affordable places to live in Oklahoma goes to the 73644 zip code in Elk City.

🔎 Key data about Elk City

Data pointValueRank (out of 123 markets)Difference from median or average
Affordability Score 90.6No. 10N/A
Median home value $151,988[64]No. 34-$65,623.47
Home affordability ratio 3.0No. 49-0.2
Home value five-year change 22.0%[65]No. 3-26.0%
Home value one-year forecast -4.1%[66]No. 3-3.4%
Rental costs $1,361[67]No. 51$0
Rent affordability ratio 2.05%No. 370.0%
Median household income $50,221[68]No. 87-$16,340
Property taxes $1,637[69]No. 74-$112
Energy costs $0.12 kWh[70]No. 1$0.00
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The 34th-most affordable market in Oklahoma is Elk City's 73644 zip code. The median home value is $151,988. Rent in the market costs $1,361 per month on average, making it the 51st-most affordable rental market in Oklahoma.

The median property tax for households in Elk City is $1,637, which is the 74th-cheapest property tax rate in the state.

Elk City ranks No. 1 among Oklahoma markets by energy costs, with households paying $0.12 per kWh of electricity.

How we ranked the most affordable places in Oklahoma

We evaluated 123 zip codes in Oklahoma with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings. 

✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a state by zip code.

Often the zip code we identify will represent an entire city or portion of a city. 

Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location. 

If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.

Methodology: What is an Affordability Score?

Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.

  • Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in Oklahoma, the higher our score on this component. We assign a weight of 23.8% to median home value.
  • Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 23.8% to the home affordability ratio.
  • Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 4.8% to the home value five-year change.
  • Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 4.8% to the home value one-year forecast.
  • Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 11.9% to rental costs. 
  • Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 4.8% to median household income.
  • Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 11.9% to the rent affordability ratio.
  • Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the Oklahoma average, the higher our score on this component. We assign a weight of 7.1% to property taxes. 
  • Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the Oklahoma average, the higher our score on this component. We assign a weight of 7.1% to energy costs.  

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