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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 Sulphur according to our analysis.
Here's a look at the top ten places to buy a home in oklahoma for 2020:
- Sulphur (Photos | Homes For Sale)
- Lone Grove (Homes For Sale)
- Alva (Photos | Homes For Sale)
- Hugo (Photos | Homes For Sale)
- Vinita (Photos | Homes For Sale)
- Holdenville (Photos | Homes For Sale)
- Henryetta (Photos | Homes For Sale)
- Harrah (Photos | Homes For Sale)
- Pauls Valley (Photos | Homes For Sale)
- Purcell (Photos | Homes For Sale)
What's the best place to buy a home in Oklahoma for 2020? According to our analysis, would the the ideal place to buy a home looking into the future.
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. If you're not worried about finding a deal on good places to live, check out the most expensive places to live in oklahoma and, for those of you on a budget, the cheapest places to live in oklahoma.
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
The 10 Best Cities To Buy A House In Oklahoma For 2020
This area was part of the Chickasaw Nation in Indian Territory during the late 19th Century. The first known settler was Noah Lael, son-in-law of former Chickasaw Governor Cyrus Harris, who built a ranch south of Pavilion Springs in 1878. In 1882, Harris sold the ranch to Perry Froman, a part Chickasaw rancher. The Encyclopedia of Oklahoma History and Culture says the ranch house was the first residence in Sulphur.
Lone Grove is built on the site of a former village located in the Chickasaw Nation of the Indian Territory near a stand of cedar trees. The town was founded and a post office was established in Lone Grove on February 4, 1885. Prior to that the community was named "Price's Store", after local general mercantile owner T. C. "Tom Cat" Price.
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.
This was part of the Indian Territory to which the United States government relocated Native American tribes from east of the Mississippi River in the 1830s under its Indian Removal policy. Among the nations relocated here were the Choctaw, for whom the county is named. They were one of what were called the "Five Civilized Tribes" of the southeastern United States, as they had adopted numerous elements of European-American culture. When they relocated, they brought with them the numerous African-American slaves whom they held. As the Choctaw allied with the Confederate South during the American Civil War, the United States government insisted on a new peace treaty with them after its end. A condition was the Choctaws' emancipation of their slaves and granting to the freedmen of rights of full citizenship in the Choctaw nation, as the US was granting citizenship to former slaves of the South.
Vinita was established in 1871 by Elias Cornelius Boudinot. In 1889, gunman and lawman Tom Threepersons was born there. It was the first city in the state with electricity. The city was first named "Downingville", and was a primarily Native American community. It was later renamed "Vinita" after Boudinot's friend, sculptor Vinnie Ream. The city was incorporated in Indian Territory in 1898.
Holdenville traces its origin to a Creek settlement called echo, which means deer in English. George B. Fentress operated a general store there. A post office called "Fentress" opened there on May 24, 1895. During the same year, the Choctaw, Oklahoma and Gulf Railroad, later the Chicago, Rock Island and Pacific Railway, built a line from McAlester to Oklahoma City. On November 15, 1895, the Fentress post office was renamed Holdenville, in honor of J. F. Holden, an employee of the CO&G. The town of Holdenville was incorporated by order of the U.S. District Court at Muskogee. D. J. Red was elected mayor at the first municipal election, held December 27, 1898. The first city council meeting was held January 4, 1899.
Hugh Henry established a ranch on Creek Nation land in 1885. He soon found a deposit of coal, which he began using to fuel the forge at his ranch. Discovery of more coal deposits attracted several railroads to develop these mines. A settlement named Furrs grew up around the mines. The name changed to Henryetta when a post office opened on August 28, 1900.
The land that would become the town of Harrah had its first settler, Louis Navarre, in the 1870s. Navarre, was a member of the Potawatomi people who had signed an 1867 treaty to sell their Kansas lands in order to purchase lands in Indian Territory with the proceeds. They also became citizens of the United States and thus became known as the Citizen Potawatomi.
The area that eventually became the city of Pauls Valley was one of the earliest European-American settlements in what was then known as Indian Territory. Smith Paul, born in 1809 in New Bern, North Carolina, discovered the fertile bottom land which is now Pauls Valley while a member of a wagon train traveling to California. Paul described the land as "a section where the bottom land was rich and blue stem grass grew so high that a man on horseback was almost hidden in its foliage."
Purcell was founded in 1887. It was named after Edward B. Purcell, a vice president of the Atchison, Topeka and Santa Fe railroad. Purcell was at the north end of the Gulf, Colorado and Santa Fe Railway, owned by the ATSF. Amtrak still serves the town with the Heartland Flyer at the station near the old Santa Fe depot.
How do you determine the best places to buy a home in oklahoma for 2020?
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 2014-2018 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 0 cities and towns in Oklahoma, only 74 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 74 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. You can download the data here.
Turns out that Sulphur is the best potential gem in the not-so-rough in the Sooner State.
Read on for more on these places.
There You Have It - The Best Places To Purchase A House In oklahoma for 2020
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 0 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