Mortgage Calculator & Closing Costs: Oklahoma City, OK
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Oklahoma City, Oklahoma.
Median Home Price
$225K
Population
681K
Avg Monthly Rent
$1,120
Property Tax Rate
0.88% *
* Property tax shown is the Oklahoma state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Oklahoma City.
Oklahoma City vs Oklahoma Median
The median home price in Oklahoma City is $225,000, which is 7% above the Oklahoma state median of $210,000.
Mortgage Calculator — Oklahoma City, OK
Pre-filled with Oklahoma City median home price and Oklahoma tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $225K home using Oklahoma's 0.88% tax rate and $3,600/yr insurance.
5% Down
$1,941/mo
Down: $11,250
Loan: $214K
P&I: $1,351
Tax: $165
Insurance: $300
PMI: $125
10% Down
$1,863/mo
Down: $22,500
Loan: $203K
P&I: $1,280
Tax: $165
Insurance: $300
PMI: $118
20% Down (No PMI)
$1,603/mo
Down: $45,000
Loan: $180K
P&I: $1,138
Tax: $165
Insurance: $300
Income needed (28% rule): $69K/year with 20% down, $80K/year with 10% down.
Rent vs Buy in Oklahoma City
Rent
$1,120/mo
vs
Buy (10% down)
$1,863/mo
Price-to-rent ratio: 16.7 — A ratio between 15-20 means the rent vs buy decision in Oklahoma City depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Oklahoma City is $225,000, 7% above the Oklahoma state median of $210,000. With a population of 681,054, Oklahoma City is a major metro area where home prices reflect strong demand and local economic factors.
Property taxes in Oklahoma average 0.88% annually. This moderate property tax rate means a $225,000 home in Oklahoma City would carry roughly $165/month in property taxes. Homeowners insurance in Oklahoma runs approximately $3,600 per year. Insurance costs are notably high — factor this into your monthly budget.
Average rent in Oklahoma City is $1,120/month. The price-to-rent ratio in Oklahoma City is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Oklahoma City offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Oklahoma's OHFA Homebuyer DPA program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Oklahoma City.