The 74601 zip code in Ponca City tops our ranking of the most affordable places to live in Oklahoma.
Whether you're searching for affordable cities and towns to buy a home or the places with the lowest cost of living to rent, consider the following zip codes.
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Top 10 most affordable places to live in Oklahoma
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Ponca City 🥇 | 100.0 | $86,925 | $772 |
| 2 | Enid 🥈 | 100.0 | $78,554 | $833 |
| 3 | Woodward 🥉 | 95.8 | $133,011 | $1,332 |
| 4 | Lawton | 92.6 | $129,991 | $997 |
| 5 | Altus | 91.9 | $107,429 | $1,332 |
| 6 | McAlester | 89.6 | $152,286 | $945 |
| 7 | Cushing | 86.7 | $141,184 | $1,332 |
| 8 | Ada | 85.5 | $184,072 | $999 |
| 9 | Oklahoma City | 84.8 | $155,700 | $1,186 |
| 10 | Noble | 84.4 | $209,986 | $1,301 |
What these affordable cities and towns have in common
The 10 zip codes we ranked share a common trait: a low cost of living relative to the Oklahoma median.
Median home values, rental costs, and property taxes generally sit below the state averages, while household incomes remain strong enough to keep home affordability ratios manageable. Below, we look at each market in detail.
1. Ponca City
Here's why the 74601 zip code in Ponca City is Oklahoma's most affordable place to live.
🔎 Key data about Ponca City
| Data point | Value | Rank (out of 119 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100.0 | No. 1 | N/A |
| Median home value | $86,925[1] | No. 2 | -$141,139 |
| Home affordability ratio | 1.7 | No. 2 | -1.6 |
| Home value five-year change | 23.8%[2] | No. 14 | -7.6% |
| Home value one-year forecast | -1.4%[3] | No. 2 | -2.0% |
| Rental costs | $772[4] | No. 1 | -$560 |
| Rent affordability ratio | 1.48% | No. 6 | -0.4% |
| Median household income | $52,067[5] | No. 89 | -$18,503 |
| Property taxes | $600[6] | No. 3 | -$1,343 |
| Energy costs | $0.13 kWh[7] | No. 89 | $0.00 |
Ponca City's 74601 zip code is the cheapest place to live in Oklahoma, leading the 119 markets we evaluated.
The median home value is $86,925, making it the 2nd-cheapest housing market in the state. Forecasts project a -1.4% change in home values in the next year. Rent in the zip code averages $772 per month, which is the 6th cheapest amount in Oklahoma.
The median property tax for homeowners in Ponca City is $600 per household, the No. 3 ranked market in Oklahoma.
Residents pay $0.13 per kWh of electricity, which ranks No. 89 among Oklahoma markets.
📈 Thinking about buying in Oklahoma? See our complete housing market outlook for the data, trends, and timing insights Oklahoma buyers need to know.
2. Enid
The 73701 zip code is the 2nd-cheapest place to live in Oklahoma.
🔎 Key data about Enid
| Data point | Value | Rank (out of 119 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100.0 | No. 2 | N/A |
| Median home value | $78,554[1] | No. 1 | -$149,510 |
| Home affordability ratio | 1.5 | No. 1 | -1.7 |
| Home value five-year change | 11.3%[2] | No. 2 | -20.1% |
| Home value one-year forecast | -0.5%[3] | No. 4 | -1.1% |
| Rental costs | $833[4] | No. 2 | -$499 |
| Rent affordability ratio | 1.64% | No. 15 | -0.2% |
| Median household income | $50,843[5] | No. 94 | -$19,727 |
| Property taxes | $863[6] | No. 16 | -$1,080 |
| Energy costs | $0.12 kWh[7] | No. 49 | $0.00 |
Enid's 73701 zip code has a median home value of $78,554, which is the 1st-cheapest housing market in Oklahoma. You can rent for an average of $833 per month. That's the 2nd-cheapest price in the state.
The average household income in the zip code is $50,843, which ranks 94th-highest in the state.
Homeowners in Enid pay a median property tax of $863 per year, making it the 16th-most affordable market in Oklahoma.
Enid ranks No. 49 among Oklahoma energy markets. You'll pay $0.12 per kWh of electricity.
3. Woodward
The 3rd-least-expensive place to live in Oklahoma is Woodward's 73801 zip code.
🔎 Key data about Woodward
| Data point | Value | Rank (out of 119 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.8 | No. 3 | N/A |
| Median home value | $133,011[1] | No. 20 | -$95,052 |
| Home affordability ratio | 2.3 | No. 9 | -1.0 |
| Home value five-year change | 14.8%[2] | No. 3 | -16.6% |
| Home value one-year forecast | -2.4%[3] | No. 1 | -3.0% |
| Rental costs | $1,332[4] | No. 53 | $0 |
| Rent affordability ratio | 1.89% | No. 39 | 0.0% |
| Median household income | $58,877[5] | No. 65 | -$11,693 |
| Property taxes | $988[6] | No. 23 | -$955 |
| Energy costs | $0.12 kWh[7] | No. 83 | $0.00 |
The No. 20 cheapest housing market in Oklahoma is Woodward's 73801 zip code, with a median home value of $133,011. Rents in the market average $1,332 per month, making it the 53rd-most affordable rental market in the state.
The median property tax for households in Woodward is $988, which makes it the 23rd-cheapest place in Oklahoma. Woodward ranks No. 83 among Oklahoma markets by energy costs. Residents pay $0.12 per kWh of electricity.
4. Lawton
The 73507 zip code in Lawton comes in at No. 4 on our list of the cheapest places to live in Oklahoma.
🔎 Key data about Lawton
| Data point | Value | Rank (out of 119 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 92.6 | No. 4 | N/A |
| Median home value | $129,991[1] | No. 17 | -$98,072 |
| Home affordability ratio | 2.1 | No. 4 | -1.1 |
| Home value five-year change | 21.3%[2] | No. 8 | -10.1% |
| Home value one-year forecast | 0.9%[3] | No. 85 | 0.3% |
| Rental costs | $997[4] | No. 8 | -$334 |
| Rent affordability ratio | 1.61% | No. 13 | -0.3% |
| Median household income | $62,132[5] | No. 53 | -$8,438 |
| Property taxes | $1,373[6] | No. 44 | -$570 |
| Energy costs | $0.12 kWh[7] | No. 72 | $0.00 |
The No. 17 cheapest housing market in Oklahoma is Lawton's 73507 zip code, where the median home value is $129,991. Renters here pay an average of $997 per month.
When it comes to energy costs, Lawton ranks 72nd among Oklahoma markets. Residents pay $0.12 per kWh of electricity.
The median property tax for households in the zip code is $1,373, which makes it the 44th-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 point | Value | Rank (out of 119 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 91.9 | No. 5 | N/A |
| Median home value | $107,429[1] | No. 8 | -$120,635 |
| Home affordability ratio | 1.8 | No. 3 | -1.5 |
| Home value five-year change | 23.1%[2] | No. 12 | -8.2% |
| Home value one-year forecast | -0.3%[3] | No. 5 | -0.9% |
| Rental costs | $1,332[4] | No. 53 | $0 |
| Rent affordability ratio | 1.89% | No. 39 | 0.0% |
| Median household income | $60,887[5] | No. 56 | -$9,683 |
| Property taxes | $976[6] | No. 22 | -$967 |
| Energy costs | $0.13 kWh[7] | No. 114 | $0.01 |
Altus's 73521 zip code has a median home value of $107,429, the 8th-cheapest housing market in the state. Forecasts project a -0.3% change in home values in the next year.
The median property tax per household in Altus is $976. It's the 22nd-cheapest market by tax rate in Oklahoma.
6. McAlester
The No. 6 most affordable city in Oklahoma is the 74501 zip code.
🔎 Key data about McAlester
| Data point | Value | Rank (out of 119 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 89.6 | No. 6 | N/A |
| Median home value | $152,286[1] | No. 27 | -$75,777 |
| Home affordability ratio | 2.6 | No. 21 | -0.6 |
| Home value five-year change | 31.1%[2] | No. 50 | -0.2% |
| Home value one-year forecast | 0.4%[3] | No. 38 | -0.2% |
| Rental costs | $945[4] | No. 7 | -$387 |
| Rent affordability ratio | 1.63% | No. 14 | -0.3% |
| Median household income | $57,922[5] | No. 72 | -$12,648 |
| Property taxes | $938[6] | No. 20 | -$1,005 |
| Energy costs | $0.13 kWh[7] | No. 91 | $0.00 |
The back half of our top 10 kicks off with McAlester's 74501 zip code, which has the 27th-cheapest home values in Oklahoma. The median home value is $152,286. Rents average $945 per month, making it the 7th-most affordable rental market in the state.
Residents pay $0.13 per kWh of electricity. It's the 91st-cheapest energy market.
7. Cushing
Cushing's 74023 zip code is the 7th-cheapest place to live in Oklahoma.
🔎 Key data about Cushing
| Data point | Value | Rank (out of 119 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 86.7 | No. 7 | N/A |
| Median home value | $141,184[1] | No. 24 | -$86,879 |
| Home affordability ratio | 2.9 | No. 40 | -0.4 |
| Home value five-year change | 19.3%[2] | No. 6 | -12.1% |
| Home value one-year forecast | 0.5%[3] | No. 57 | -0.1% |
| Rental costs | $1,332[4] | No. 53 | $0 |
| Rent affordability ratio | 1.89% | No. 39 | 0.0% |
| Median household income | $49,097[5] | No. 100 | -$21,473 |
| Property taxes | $1,000[6] | No. 25 | -$943 |
| Energy costs | $0.12 kWh[7] | No. 47 | $0.00 |
You'll find the 24th-cheapest home values in Oklahoma in Cushing's 74023 zip code. The median value: $141,184. Renters in Cushing pay an average of $1,332 per month.
Homeowners in Cushing pay a median property tax of $1,000 per year, which is Oklahoma's 25th-most affordable market.
The average household income is $49,097, which ranks 100th-highest in the state.
8. Ada
The 8th-least-expensive place to live in Oklahoma is Ada's 74820 zip code.
🔎 Key data about Ada
| Data point | Value | Rank (out of 119 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 85.5 | No. 8 | N/A |
| Median home value | $184,072[1] | No. 44 | -$43,992 |
| Home affordability ratio | 3.0 | No. 44 | -0.3 |
| Home value five-year change | 32.6%[2] | No. 68 | 1.2% |
| Home value one-year forecast | 0.7%[3] | No. 67 | 0.1% |
| Rental costs | $999[4] | No. 9 | -$333 |
| Rent affordability ratio | 1.60% | No. 12 | -0.3% |
| Median household income | $62,357[5] | No. 52 | -$8,213 |
| Property taxes | $1,222[6] | No. 39 | -$721 |
| Energy costs | $0.12 kWh[7] | No. 58 | $0.00 |
The 44th-cheapest housing market in Oklahoma is Ada's 74820 zip code, with a median home value of $184,072. Renters pay an average of $999 per month, the No. 9 rental market in the state.
The median property tax for households in Ada is $1,222, which makes it the 39th-cheapest place in Oklahoma. The average household income of $62,357 ranks 52nd.
9. Oklahoma City
Oklahoma City's 73107 zip code is one of Oklahoma's most affordable towns, sneaking into the top ten of our rankings.
🔎 Key data about Oklahoma City
| Data point | Value | Rank (out of 119 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 84.8 | No. 9 | N/A |
| Median home value | $155,700[1] | No. 28 | -$72,364 |
| Home affordability ratio | 2.7 | No. 27 | -0.5 |
| Home value five-year change | 17.0%[2] | No. 4 | -14.3% |
| Home value one-year forecast | 0.4%[3] | No. 38 | -0.2% |
| Rental costs | $1,186[4] | No. 31 | -$146 |
| Rent affordability ratio | 2.09% | No. 88 | 0.2% |
| Median household income | $56,873[5] | No. 74 | -$13,697 |
| Property taxes | $1,393[6] | No. 45 | -$550 |
| Energy costs | $0.12 kWh[7] | No. 9 | $0.00 |
The 28th-cheapest housing market in Oklahoma is Oklahoma City's 73107 zip code, where the median home value is $155,700. Renters pay an average of $1,186 per month. It's the state's 31st-cheapest rental market.
The median property tax for households within the zip code is $1,393, which makes it the 45th-cheapest property tax rate in Oklahoma.
10. Noble
The final spot on our list of the most affordable places to live in Oklahoma goes to the 73068 zip code in Noble.
🔎 Key data about Noble
| Data point | Value | Rank (out of 119 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 84.4 | No. 10 | N/A |
| Median home value | $209,986[1] | No. 61 | -$18,078 |
| Home affordability ratio | 2.8 | No. 36 | -0.4 |
| Home value five-year change | 33.8%[2] | No. 77 | 2.4% |
| Home value one-year forecast | 0.3%[3] | No. 9 | -0.3% |
| Rental costs | $1,301[4] | No. 49 | -$31 |
| Rent affordability ratio | 1.76% | No. 25 | -0.1% |
| Median household income | $73,821[5] | No. 35 | $3,251 |
| Property taxes | $1,553[6] | No. 57 | -$390 |
| Energy costs | $0.12 kWh[7] | No. 48 | $0.00 |
Rounding out our top 10 is Noble's 73068 zip code, with the 61st-cheapest home values in Oklahoma.
The median home value is $209,986. Rent in the market costs $1,301 per month on average.
The median property tax for households in Noble is $1,553, which is the 57th-cheapest property tax rate in the state.
Noble ranks No. 48 among Oklahoma markets by energy costs, with households paying $0.12 per kWh of electricity.
What questions about these cities should I ask local agents?
Once you've found a town you're interested in, you'll want to ask a local agent for details our rankings can't capture. Start with these four questions:
- What neighborhoods inside this zip code have the best resale value?
- What's the rental market like right now?
- Are there local property tax exemptions or homestead programs you'd qualify for?
- What are the most common surprises buyers run into here?
🏡 Need a local agent? We can connect you with an expert who knows the market.
Frequently asked questions about the least expensive places to live in Oklahoma
Based on Clever's Affordability Score, the 74601 zip code in Ponca City is the cheapest place to live in Oklahoma.
The median home value is $86,925, and the median household income is $52,067, giving Ponca City a home affordability ratio of 1.7, meaning a typical home costs about that many times the median annual income.
See our Affordability Score methodology and the full ranking of the 10 cheapest places to live in Oklahoma.
The median home value in Oklahoma is $228,063.
See the rankings above for how individual cities compare to these state-wide figures.
Oklahoma is currently a mild buyer's market, according to Clever's Market Heat Index.
The index reflects the balance between buyer demand and seller supply, which affects how much negotiating power buyers and sellers have in any given market.
Markets also vary by city, county, and neighborhood. It's always good to check with a local real estate agent to understand the dynamics of a given local market.
The median amount homeowners pay in property taxes in Oklahoma is $1,943 per year.
Property taxes are a key part of the overall cost of living, and they vary significantly by location. The per-city tax figures in the rankings above show how each of the 10 cheapest places stacks up against the Oklahoma median.
📍 The 10 cheapest places to live in your region
How we ranked the most affordable cities and towns in Oklahoma
We evaluated 119 zip codes in Oklahoma with a population over 10,000 on home values, rental costs, energy rates, property taxes, and five other affordability indicators. We then assigned each market an Affordability Score based on its weighted and combined rankings.
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 13.0% 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 28.0% 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 10.0% 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 8.0% 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 7.0% 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 5.0% 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 17.0% 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 8.0% 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 4.0% to energy costs.
✍️ 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.
Why you should trust us
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Our team is committed to making home purchasing more transparent by educating buyers and sellers through guides like this one. Our writers, editors, and industry-leading researchers strive to provide readers with the most up-to-date, accurate, and useful information.
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