There’s a the age old question everyone thinks about when they decide to move to a city in Oklahoma:
Should I buy a place or rent?
Well, we aren’t here today to solve that problem for you exactly. We are just assuming you’ll do the right thing and a buy a place 😉
And while we are happy to tell you the best place to live in Oklahoma, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the Sooner State.
To do that we are going to look at places in Oklahoma that are growing faster than average, but where home prices are below average. In every day terms, the “deals”.
The best deal in Oklahoma at the moment? That would be El Reno according to our analysis.
Here’s a look at the top ten places to buy a home in Oklahoma for 2019:
- El Reno (Photos | Homes For Sale)
- Poteau (Photos | Homes For Sale)
- Blackwell (Photos | Homes For Sale)
- Collinsville (Photos | Homes For Sale)
- Ada (Photos | Homes For Sale)
- Alva (Photos | Homes For Sale)
- Tuttle (Photos | Homes For Sale)
- Perry (Photos | Homes For Sale)
- Ardmore (Photos | Homes For Sale)
- Skiatook (Photos | Homes For Sale)
The methodology that wen’t into this can be a bit complicated, so we’ll break it down for you in as much detail as we can below.
For more Oklahoma reading, check out:
- These Are The 10 Best Counties To Live In Oklahoma
- 10 Best Places To Raise A Family In Oklahoma
- These Are The 10 Best Places To Retire In Oklahoma
How do you determine the best places to buy a home in Oklahoma for 2019?
We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we’ve put a lot of thought into what goes into finding a good place to buy a home.
So all that thinking has come to this moment where we get to spell out how we’d approach finding an up-and-coming place to live in Oklahoma. Put differently, the analysis will try to find places in Oklahoma with undervalued homes relative to pent up demand.
To do that we looked at the most recent American Community Survey Census data for 2013-2017 and compared it to the previous vintage (2012-2016). Specifically, we used the following criteria:
- Y-o-Y Change In Population (People want to live here)
- Y-o-Y Change In Median Home Prices (People are willing to pay for it)
- Home Prices Relative To The State Average (It’s still kinda cheap)
We want places that are growing, have seen home prices increase in recent years, and are still “cheap” for Oklahoma with the following caveats:
- Home prices had to be within 20% of the state average (Much lower than that and you get to some of the more dangerous places)
- Home prices increased in the last year, and
- Above 5,000 people (Bigger cities have more data points)
So of the 728 cities and towns in Oklahoma, only 76 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 76 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a “best place to buy” index with the place having the lowest index being the best.
Turns out that El Reno is the best potential gem in the not-so-rough in the Sooner State.
Read on for more on these places.
The city was originally located about five miles north of its present location, on the banks of the North Canadian river, bearing the name Reno City, which caused its mail to get mixed up with mail for Reno, Nevada. After the second time the town flooded, it was moved to its present location and changed its name to El Reno. This word is Spanish for “the reindeer”.
Poteau was founded in 1885, its name being derived from the nearby Poteau River. During the late 1700s, there was a large French outpost at Belle Point. From there, they would travel up the Poteau River to the base of Cavanal Mountain where a secondary post was established. Because of this, the river was named the “Post River”, or Poteau River, and the outpost was simply called the post, or “Poteau”. A group of French explorers gave the river its present name during the early 18th Century. Poteau is a French word meaning post.
Blackwell came into existence during the Cherokee Outlet Opening on September 16, 1893 in the run known as the Cherokee Strip Land Run. The town is named for A. J. Blackwell, who was the dominant force in its founding. A post office was established on December 1, 1893. Due to a struggle for regional prominence between Blackwell and nearby Parker, the post office was named Parker from April 2, 1894, to February 4, 1895. After the latter date, the name reverted to Blackwell.
A community that had existed here had no official name until Dr. A. H. Collins, the town namesake, established a post office on May 28, 1897. Henry P. Cook was the first postmaster. Then it became known as either Collins or Collins Post Office. The name officially became Collinsville by June 1898 and it incorporated as a city in April 1899. The population in 1900 was 376.
In the late 1880s, the Daggs family became the first white family to settle what is now known as Ada, which was formerly known as Daggs Prairie. In April 1889, Jeff Reed was appointed to carry the mail from Stonewall to Center, two small communities in then Indian Territory. With his family and his stock, he sought a place for a home on a prairie midway between the two points, where he constructed a log house and started Reed’s Store. Other settlers soon built homes nearby. In 1891, a post office was established and named after Reed’s oldest daughter, Ada. Ada incorporated as a city in 1901 and grew rapidly with the arrival of the St. Louis and San Francisco Railway line. Within a decade the Santa Fe Railroad and the Oklahoma Central Railway also served the town.
Alva was established in 1893 as a land office for the Cherokee Outlet land run, the largest of the land rushes that settled western and central Oklahoma. The site was chosen for its location on the Atchison, Topeka & Santa Fe Railway and likely named for a railroad attorney, Alva Adams, who had become governor of Colorado.
Located east of the Chisholm Trail, Tuttle was developed as a farming and ranching community. The town was platted in 1901 and the land was purchased Chickasaw land from the Colbert Family. The town is named after local rancher James H. Tuttle, a Choctaw by marriage and the father of automobile dealer and politico Holmes Tuttle. The right-of-way for the St. Louis and San Francisco Railway came from the tribal allotment of Frances Schrock, a Choctaw. Schrock Park is named after her. Tuttle’s post office was established in 1902, and the town was incorporated in 1906.
The Treaty of New Echota, May 23, 1836, assigned the Cherokee Outlet to the Cherokees as a perpetual outlet to use for passage to travel and hunt in the West from their reservation in the eastern part of what became Oklahoma. This was in addition to the land given to the Cherokees for settlement after their arrival from their home in Georgia.
Ardmore, Indian Territory, began with a plowed ditch for a Main Street in the summer of 1887 in Pickens County, Chickasaw Nation. It owes much of its existence to the construction of the Santa Fe Railroad through the area during that time. It grew, as most frontier towns grew, over the years into a trading outpost for the region. In 1894, notorious outlaw William M. Dalton was gunned down by a posse as he tried to flee from his home in Ardmore. A large fire in 1895 destroyed much of the fledgling town, which forced residents to rebuild nearly the entire town. In the early 1900s, Ardmore became well known for its abundance of cotton-growing fields and eventually became known as the world’s largest inland cotton port.
William C. Rogers, last hereditary Chief of the Cherokees, founded Skiatook in 1872, when he established a trading post in the Cherokee Nation just to the south of Bird Creek where the stream was easily crossed. When a post office was established in Rogers’ store in the 1880s, the place was named Ski-a-took. An Osage Indian, Skiatooka, was a frequent trader at the post, so it has been suggested this may be the connection which resulted in the town’s name. In 1892, the name was changed from Ski-a-took to its present form.
There You Have It – The Best Places To Purchase A House In Oklahoma for 2019
There’s our analysis of the best places to buy a house in Oklahoma. And, to be clear, we aren’t necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.
In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 728 places in the state.
So if we’d could rent or buy in these cities, we’d definitely buy.
For more Oklahoma reading, check out:
Detailed List Of The Best Places To Buy A Home In Oklahoma