Oklahoma housing costs at a glance
| Oklahoma | |
|---|---|
| Median home value (Zillow) | $224,000 |
| Average effective property tax | 0.78% |
| Typical rate for a new buyer (calculator default) | 0.95% |
| Average homeowners insurance ($300k dwelling) | $5,556 a year |
| 2026 conforming loan limit (one unit) | $832,750 |
Example: median-priced home
Oklahoma home for $224,000, 20% down, 6.5% 30-year fixed: principal and interest $1,133 + property tax $177 + insurance $463 = about $1,773 a month. Enter your own rate quote and the actual tax rate of the property for a precise figure.
Oklahoma property tax
Oklahoma counties assess homes at 11%–13.5% of fair cash value, and the average effective rate is about 0.78%. For a homestead, the taxable value can rise by at most 5% a year; the cap resets when the home is sold. File for the homestead exemption with the county assessor after you buy.
Insurance is the big cost in Oklahoma
- Homeowners insurance: about $5,560 a year on average for $300,000 of dwelling coverage, the second highest in the US after Florida, because of hail and tornadoes. In this calculator insurance costs more than property tax.
- Documentary stamp tax: $0.75 per $500 of the price (0.15%), usually paid by the seller.
- See also the Oklahoma paycheck calculator.
Other states
See also the Oklahoma paycheck calculator and mortgage costs in other states.
Frequently asked questions
Why is home insurance so expensive in Oklahoma?
Hail and tornadoes cause frequent, large claims; the average premium is about $5,560 a year for $300,000 of dwelling coverage.
What is the monthly payment on a median-priced Oklahoma home?
On a $224,000 home with 20% down at 6.5%, principal and interest are about $1,133; with property tax at 0.95% and average insurance the total is about $1,773 a month.
What is the property tax rate in Oklahoma?
About 0.78% of home value on average.
Is there a cap on property tax increases in Oklahoma?
Yes: a homestead's taxable value can increase by at most 5% a year while you own it.
For information only; not a loan offer. Property tax, insurance and closing costs depend on the specific property and lender.
Sources
- Oklahoma Tax Commission – ad valorem
- FHFA – 2026 conforming loan limits
- U.S. Census Bureau ACS 2024 – real estate taxes (via NAHB / Construction Coverage)
- Zillow Home Value Index
- Insurify – home insurance by state
Rules checked: October 2026