Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Oklahoma and Wyoming. Updated for 2026.
Wyoming wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. However, Oklahoma has a lower total cost when combining home price, closing costs, and insurance. Both states offer first-time buyer programs — explore the state pages for full details.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI.
Buying in Oklahoma saves you approximately $657/month ($7,884/year) compared to Wyoming, based on median home prices with identical loan terms.
Oklahoma offers meaningfully lower home prices than Wyoming, with median prices running 38% less ($130K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Wyoming may find Oklahoma far more accessible, particularly when combined with local down payment assistance programs.
Property tax rates are similar in both states (Oklahoma: 0.88%, Wyoming: 0.61%), so taxes shouldn't be the deciding factor in your relocation decision. Instead, focus on differences in home prices, insurance costs, and state-specific programs. Both states collect roughly comparable property tax revenue relative to home values.
Homeowners insurance is significantly cheaper in Wyoming ($1,800/year) compared to Oklahoma ($3,600/year). That's an extra $1,800 per year — or $150/month — eating into your budget in Oklahoma. Oklahoma's high insurance costs are often driven by severe weather risks (hurricanes, tornadoes, or wildfires), which also affect availability of coverage.
Both states offer down payment assistance for first-time buyers. Oklahoma's OHFA Homebuyer DPA provides Up to 3.5% DPA, while Wyoming's WCDA Spruce Up Wyoming offers Below-market rate loans. These programs can significantly reduce your upfront costs and make homeownership accessible even if you haven't saved a full 20% down payment. Check eligibility requirements on each state's housing finance agency website — income limits and purchase price caps apply.
The bottom line: Oklahoma homes cost $130K less than Wyoming on average. That translates to roughly $657 less per month in total housing costs if you choose Oklahoma. For most buyers, this price gap is the single biggest factor — it affects your loan size, monthly payment, and how quickly you build equity.