CALCMONEY // HOME AFFORDABILITY // OK
Find out how much home you can afford in Oklahoma using local median home prices, current mortgage rates, and OK-specific property tax data.
Open Full Calculator$200,000
$1,292/mo
$201,803
$55,391/yr
| Median Home Price | $200,000 |
| Down Payment (20%) | $40,000 |
| Loan Amount | $160,000 |
| Monthly PI Payment | $1,059 |
| Monthly Property Tax | $150 |
| Monthly Insurance Est. | $83 |
| Total Monthly PITI | $1,292 |
| Required Gross Income (28% rule) | $55,391/yr |
| Max Affordable Price (28% rule) | $201,803 |
$7,000
$1,648/mo
Oklahoma Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $200,000 | State median |
| Down Payment (20%) | $40,000 | Conventional |
| Monthly PITI (median home) | $1,292 | 6.95% rate |
| Required Income (28% rule) | $55,391 | Annual gross |
| Max Affordable Home | $201,803 | Based on median income |
| FHA Down Payment (3.5%) | $7,000 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Oklahoma is $200,000, with a current 30-year fixed mortgage rate of 6.95%. A buyer putting 20% down on the median home would carry a loan of $160,000, resulting in a monthly principal and interest payment of $1,059. Once property taxes and insurance are added, total monthly housing costs reach $1,292.
Property taxes in Oklahoma average 0.9%, near the national average of 1.1%. On the median Oklahoma home, property taxes add $150/month to total housing costs.
Oklahoma levies a state income tax of 0.25%–4.75%, which affects take-home pay and therefore what you can realistically budget for housing. Mortgage interest may be deductible on both federal and Oklahoma state returns — consult a tax professional for your situation.
Using the 28% rule, a household earning Oklahoma's median income of $55,800/year can afford up to $1,302/month in total housing costs (principal, interest, taxes, and insurance). Based on Oklahoma's current mortgage rate of 6.95% and property tax rate of 0.9%, that translates to a maximum affordable home price of approximately $201,803 with 20% down on a 30-year loan.
To comfortably afford the median Oklahoma home priced at $200,000, you need an annual gross income of approximately $55,391. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $1,059, property taxes of $150, and insurance of $83) come to $1,292/month, which should not exceed 28% of your gross monthly income.
Oklahoma's average property tax rate is 0.9%, which is near the national average of 1.1%. On the median Oklahoma home of $200,000, that means annual property taxes of $1,800, or $150/month. Because lenders include property taxes in your debt-to-income calculation, Oklahoma's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median Oklahoma home of $200,000, that is $7,000. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($40,000 on the median Oklahoma home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no Oklahoma-specific minimum down payment requirements beyond federal guidelines.