Department of Numbers

Oklahoma City, Oklahoma Home Affordability

The data below measures home affordability for the Oklahoma City, Oklahoma metropolitan area using price-to-income and price-to-rent metrics. The maximum affordable loan amount for the median household income is also calculated.

Oklahoma City, Oklahoma Home Price-to-Income Index

The current price-to-income ratio for Oklahoma City is 3.14 as determined by June 2010 Realtor median sales prices. The chart below shows a history of the ratio as an index calculated from the Federal Housing Finance Agency's Oklahoma City HPI series.1 Median household income data for Oklahoma City is from the Census American Community Survey.2

Price-to-Income: FHFA

Note: Index set to 100 in Q1 of 2000

Oklahoma City, Oklahoma Home Price-to-Income Index History

Date FHFA
June 2010 113.2
March 2010 113.7
December 2009 112.8
September 2009 112.7
June 2009 113.6

Oklahoma City, Oklahoma Home Price-to-Rent Index

The current price-to-rent ratio for Oklahoma City is 21.91 as determined by June 2010 Realtor median sales prices. This ratio is calculated using household size adjusted median contract rent for Oklahoma City. The chart below shows an index of the rent ratio calculated from the metro FHFA HPI series and the Oklahoma City median contract rent data from the Census ACS.

Price-to-Rent: FHFA

Note: Index set to 100 in Q1 of 2000

Oklahoma City, Oklahoma Home Price-to-Rent Index History

Date FHFA
June 2010 110.4
March 2010 110.8
December 2009 109.9
September 2009 109.8
June 2009 110.8

Oklahoma City, Oklahoma Inferred Affordable Mortgage

The inferred affordable mortgage is determined by taking the median household income for Oklahoma City, Oklahoma and calculating the mortgage 30% of that income could afford. Traditionally, 30% of income is the maximum amount a homeowner could use towards a home loan. Inferred affordable loan values are calculated from ACS median household income and average monthly mortgage rates.

Inferred Affordable Mortgage

Date Inferred Mortgage
July 2010 $233,686
June 2010 $228,847
May 2010 $224,930
April 2010 $219,615
March 2010 $222,882
February 2010 $222,375
January 2010 $221,365
December 2009 $223,903
November 2009 $225,188
October 2009 $223,392
September 2009 $220,612
August 2009 $217,395
July 2009 $216,663

1. Specifically, FHFA data is from the non seasonally adjusted, all-transactions quarterly series.

2. Income data for the previous year is carried into the following year prior to the release of new income data.