• by The VRET Team

The Pros and Cons of Living in Oklahoma City

OKC is the state’s largest city and the country’s 8th largest metropolitan area. The Metropolitan Area Projects (MAPS) has brought more than $7 billion to the region in public and private investments since 1993.

In 1889, thousands participated in Oklahoma land claim races, which began with a pistol shot. Those jumping the gun to claim land were nicknamed Sooners.

With OKC gaining about 100,000 residents between 2010-2020, you’ll want to become a Sooner by grabbing claims quickly. Bankrate rates Oklahoma City as the fourth best place to live, and here’s why.

Low Cost of Living

The low cost of living makes Oklahoma City ideal for homeowners and businesses. Rankings consider several factors: migration patterns, job market, diversity, affordability, and overall well-being.

OKC’s overall cost of living is 16% below the national average. This recognizes the 29% lower housing costs, 6% lower utilities, and 9% lower transportation and grocery expenses.

Average hourly wages and annual salaries provide a comfortable living in the city. According to the Living Wage Calculator, which bases findings on the assumption of a sole provider working full time to live comfortably in Oklahoma City, you need to earn:

• $15.86/hour for one working adult, zero children
• $42.60/hour for one working adult, two children
• $25.88/hour for two adults, one working, zero children
• $37.33/hour for two adults, one working, two children
• $12.83/hour with two adults, both working, zero children
• $23.59/hour with two adults, both working, two children

Average salaries include management at $102,788/year, legal at $70,254/year, food preparation and serving at $25,182/year, production at $41,158/year, and transportation and material moving at $35,402/year.

Solid Employers

As of April 2023, the U.S. Bureau of Labor Statistics shows Oklahoma City as has 731,600 civilians in the workforce and an unemployment rate of 2.1%.

Some of the biggest employers in OKC include Hobby Lobby, Love’s Travel Stops and Country Stores, Integris Health, Accord Human Resources, Inc., Braums, Oklahoma Department of Corrections, Mammoth Energy Services, Dell, and Boeing.

Whatever your profession, you will find a source of income that matches your training. In addition to the above, Tinker Air Force Base employs around 7,500 civilian and military experts.

Veterans Services

Oklahoma City is a top 10 location for retiring veterans. In addition to healthcare access, the Oklahoma City Vet Center helps veterans and their families by providing services free of charge, including:

• Counseling for depression
• Post Traumatic Stress Disorder (PTSD) counseling
• Military sexual trauma (MST) counseling

If the center doesn’t offer the desired services, they connect veterans with a local facility.

Friendly Living

Oklahoma City is one of the friendliest cities in the country. When it comes to activities, there is something for everyone. Whether you enjoy city life or rural living, a walkable downtown or an art district, botanical gardens, or professional sports, this area will please.

OKC offers a small-town atmosphere with top-level amenities. There are distinct neighborhoods, galleries, breweries, year-round festivals, and more. To learn more, you can experience Oklahoma City by viewing this collection of videos covering different city areas, including Brick Town, Uptown, Western Avenue, and more.

Friendly living and diversity may be why WalletHub put Oklahoma City in the top 10 list of the 2022 Best and Worst Run Cities in America. In determining their winners, they compared 150 of the largest cities in the U.S. Reviews include per capita budget and quality of available services.

Affordable Real Estate Investment Market

The housing market in Oklahoma City is on an upward trend, with price increases of 5-8%. Costs are increasing due to higher mortgage interest rates, higher builder costs, and fewer homes available for purchase. The average price for a home is about $230,200, compared to the national average of $428,700.

Those who prefer to rent will enjoy low costs. Zumper National Rent Index of May 24, 2023, rates the city 94 for rent costs. A one-bedroom apartment rents for about $900 per month, and a two-bedroom for $1,100. This is well below the national median of $1,504 and $1,56, respectively.

For those looking to relocate or expand a business, there are affordable options for every industry. Oklahoma City offers numerous certified sites and site-ready locations, including brownfield development areas and greenfield sites.

The affordable real estate environment makes OKC a competitive location to own real estate, whether investing or for personal home ownership.

Diverse Culture

This city boasts a diverse culture, with about 45% self-identifying as non-white. OKC has one of the largest Native American populations in the U.S. Cultural diversity includes some of the largest ethnic grocery stores in the area, including Asian, Mediterranean, Hispanic, and Indian.

Religious diversity includes six Jewish temples or synagogues, two Hindu temples, four Muslim mosques, and nine Buddhist temples. 

The superb higher educational system contributes to ethnic diversity by attracting students worldwide.

The September 2022 Insight into Diversity magazine issue recognizes Oklahoma State University and the University of Oklahoma on its Higher Education Excellence in Diversity list. OSU has met this standard for six straight years.

Excellent Education System

Oklahoma City Public Schools is multi-cultural, educating approximately 34,000 students. The district houses four alternative schools, six charter schools, eight high schools, and 33 elementary schools. The district employs about 6,100 people in staff, administration, and other positions.

The city is home to five colleges and universities, plus an additional 11 in the surrounding area. The Princeton Review’s September 2022 edition of the 2023 best colleges by region includes the following:

• Oklahoma Baptist University
• Oklahoma Christian University
• Oklahoma City University
• Oklahoma State University
• University of Oklahoma

The review ranks educational institutions using the results of an 85-question survey. Students rate their administrators, school services, professors, and various aspects of college life.

Strong Aeronautics Programs

In October 2022, the National Association of State Aviation Officials (NASAO) recognized the Oklahoma Aeronautics Commission as the most innovative state program during its National Aviation Conference. This recognition is because of its web-based Airport Infrastructure Management System.

Additional recognition is given for the Aerospace and Aviation Education Program, which helps increase awareness and exposure to certification for an aviation and aeronautics career.

Flying Magazine’s August 2022 issue recognizes the School of Aviation at the University of Oklahoma as the top college aviation program in the country, scoring 43 points out of a possible 50.

Unlimited Cultural Opportunities

Settled in 1889, OKC is home to one of the world’s largest livestock markets, the Horse Capital of the World, and Oklahoma National Stockyards, the world’s largest stocker/feeder cattle market. The US Olympic & Paralympic Training Site is for rowing and canoe/kayak athletes.

Living in Oklahoma City allows you to become a tourist in your own town, with over 275 places to explore, including:

• Bricktown River Taxi
• Chickasaw Bricktown Ballpark
• Exhibit C Gallery in Bricktown
• First Americans Museum
• Frontier City Theme Park
• National Cowboy and Western Heritage Museum
• Oklahoma City Museum of Art
• Oklahoma City National Memorial and Museum
• Oklahoma City Zoo and Botanical Gardens
• Oklahoma History Center
• Science Museum of Oklahoma
• Skeletons: Museum of Osteology

USA Today ranked OKC as the number one city for street art for the second year in a row in 2022. Thrillist named Oklahoma City a top place for creatives because of the area’s museums, galleries, public art, entertainment, musical and theatrical options.

Four Seasons of Sunny Weather

With cold winters and hot summers, you’ll enjoy OKC’s four seasons. The area averages about 33 inches of rain and 350 days of sunshine annually. With an average annual temperature of 60 degrees and less than ten inches of snow yearly, you can’t go wrong if you love the outdoors.

Pilots love the area, which boats VFR (Visual Flight Rules) an average of 350 days a year. Heavy fog is rare; prevailing winds are southerly ten months of the year. Northerly breezes dominate in January and February.

Cons of Living in Oklahoma City

Living in this beautiful city has numerous benefits. Every location has a few cons, and we feel compelled to share the positives and negatives. Consider the town’s downsides before investing in real estate.

Destructive Weather

Oklahoma City sits in the heart of Tornado Alley. This means listening for storm alerts is crucial to survival. The city sits in Oklahoma County, which experiences the most tornadoes in the state.

Between 1950 to 2022, there were 153 twisters in the county. Because of the high risk, some homeowners purchase windstorm destruction insurance policies.

It is luck that Oklahoma City sits in the middle of the state and most of the tornados are in the western side and move NE which bypasses the metro. Since 1999 only three major tornados had hit areas of the Oklahoma City metro.

Landlocked

Oklahoma City is completely landlocked, right in the heart of the American prairies. No mountains or beaches exist, but you can get to inland beaches in nearby towns.

The area has 11 recreational lakes, with three reservoirs within the city. The city also has a seven-mile stretch of the North Canadian River flowing through it, known as the Oklahoma River.

Largest City and State Capitol

Oklahoma City is the state’s capital and the largest city in the state. Because there aren’t other large cities nearby, you either travel or embrace the small-town living atmosphere.

As of the 2020 census, the city boasts a population of 681,054, but when you include the metropolitan suburbs and feed cities, it increases to over 1.4 million residents.

Crime Rate

The annual crime rate per 1,000 residents is 6.29 violent and 37.37 property crimes, ranking it safer than 4% of U.S. neighborhoods. To put this into perspective, the chance of becoming a victim of a violent crime is one in 159 residents.

The ten safest neighborhoods are:

• Apple Valley
• Homestead/Meritage Park
• Northwest 178th Street/North Macarthur Boulevard
• Northwood Lake Estates/Blue Quail #2
• Ridgeview Estates
• Shadow Wood Shadow Wood North
• Southwest 104th Street/South Czech Hall Road
• Sterling Canyon/Liberty Creek NWA
• The Grove/Rose Lake and Villas
• Trailswest

Underfunded Infrastructure

The infrastructure report card gives the state a C- for 2021. When the state and city experience budget struggles, the typical resolution is raising taxes. This leaves periods when infrastructure issues, including roads and bridges, are not adequately maintained.

Oklahoma residents incur costs of about $394 per year due to poor road conditions. Ten percent of the state’s 23,138 bridges are structurally deficient, and 449 dams have a high-hazard potential.

In OKC, road maintenance is low on the totem pole, even when funding is available.

State Tax and City Tax

Oklahoma’s sales tax is 4.5%, Oklahoma County has a 0% tax, and the City of Oklahoma charges a 4.13% sales tax.

The state and city charge sales tax on food, drinks, and grocery purchases. This adds up to an 8.63% sales tax for purchases in OKC, offsetting the low cost of living benefits.

The state exempts prescription drugs, purchases with food stamps, and some manufacturing equipment from sales tax.

Oklahoma is a progressive income tax state, with six tax brackets ranging from 0.25% to 4.75%, depending on income and filing status. A bonus for retirees is that the state does not tax social security income, and those over 65 receive a $10,000 deduction on income from retirement accounts.

The state’s corporate income tax rate is 4%, ranking 23rd in the country on the state business tax index.

Politics and Religion

Oklahoma City is primarily a Republican, Christian town. Since 2000, OKC has voted Republican in every presidential election. During the last presidential election, about 48% of Oklahoma County voted Democrat, about 49% Republican. The remaining voters were independents.

In the city, 46.3% of the people are religious. Of those, 17.3% are Baptist, 6.9% Methodist, 3% Pentecostal, 6.0% Catholic, 2.3% Church of Jesus Christ, and 9.3% other Christian faith. All remaining denominations are 1% or lower.

When you are not in the majority, voicing your opinions about politics or religion may result in being ostracized by others in your area but overall it is a live and let live city.

Investing in Real Estate

OKC offers the best of everything when reviewing the pros and cons of living in Oklahoma City. Whether you are seeking home ownership or considering the types of real estate available for investing, the low cost of living and affordable lifestyle is indisputable. 

If you are ready to learn more about investing in Oklahoma City real estate, schedule a call with our team. We would be happy to answer your questions and help you find the right property for you!