What is the cap rate in Oklahoma City, OK?

The median cap rate in Oklahoma City, OK is 5%. This is based on HUD Fair Market Rents and current home values.

Is Oklahoma City a good place to buy rental property?

Oklahoma City has a cap rate of 5% and estimated cash flow of -$273/month. Returns are moderate — consider the appreciation potential. Median home price is $211,604 with average 3BR rent of $1,450/month.

What is the average rent in Oklahoma City, OK?

The HUD Fair Market Rent for a 3-bedroom in Oklahoma City, OK is $1,450/month. This represents the estimated rent for standard-quality housing in the area.

Oklahoma City, OK — Rental Investment Analysis

🟡MODERATE— average returns

Data: HUD FMR FY2024 + Zillow ZHVI April 2026 + Freddie Mac rates. Last updated June 2026.

Investment Summary

As of 2026, rental properties in Oklahoma City, OK yield a 5.0% cap rate. Median home price is $211,604 with 3-bedroom rents at $1,450/month.

Oklahoma City is a moderate market — workable but not exceptional for cash flow. At $211,604 median home price, Oklahoma City is affordable by national standards and within reach for most conventional loans. With 3-bedroom rents around $1,450/month, the 5.0% cap rate tells the story. Cash flow is deeply negative at -$273/month with standard assumptions. This market requires appreciation to justify the investment.

At 0.68% on the 1% rule, rents are low relative to purchase prices. You'd need a significant discount from asking price to make the numbers work. DSCR of 0.77 is below 1.0, meaning rental income doesn't cover the mortgage. DSCR lenders will likely decline this market at current prices.

Bottom line: Oklahoma City offers a balance of moderate cash flow and growth potential. Good for investors who want some income while building equity over time.

Data sources: HUD Fair Market Rents (FY2024), Zillow Home Value Index (April 2026), Freddie Mac Primary Mortgage Market Survey.

Cap Rate

5.0%

Below average

Monthly Cash Flow

-$273

After all expenses

Price-to-Rent

12.3

Investor-friendly

DSCR

0.77

Fails

Key Metrics

Median Home Price: $211,604
Average Rent (3BR): $1,450/mo
Price-to-Rent Ratio: 12.3(good)
1% Rule: 0.68%(fails — need 1%+)
Cash-on-Cash Return: -6.2%
Vacancy Rate: 8.0%

Market Strength

Unemployment Rate: 4%(-0.3% vs national)
Rent Growth (YoY): +2.9%(national avg)
Population Growth: +0.5% YoY

Assumptions Used

20% down, 6.52% rate, 30yr, 8% vacancy, 10% maintenance

Customize these numbers →

Property Tax Rate

0.87%

of assessed value (OK avg)

Median Income

$55,826

household (OK avg)

Rent-to-Income

31.2%

Moderate

Section 8 Max Rent

$1,450/mo

3BR voucher payment

OK Investor Climate

Landlord Friendly

8/10

State Income Tax

Has state tax

Property Tax

0.87% effective

Population Trend

+0.5% (3yr)

Population Movement (Tax Year 2021→2022)

Net Migration

-604 households

SHRINKING

Total Inflow

11,445

households moved in

Avg Income (New Residents)

$56,464

per household

Where they're coming from:

1.Cleveland, OK3,497 households · avg $49,628

2.Canadian, OK1,986 households · avg $51,819

3.Logan, OK661 households · avg $80,766

4.Comanche, OK346 households · avg $50,289

5.Los Angeles, CA250 households · avg $55,908

Where residents are leaving to:

1.Cleveland, OK3,606 households

2.Canadian, OK3,259 households

3.Logan, OK785 households

4.McClain, OK309 households

5.Grady, OK304 households

Net outflow may indicate weakening demand — but can mean lower prices and higher cap rates.

Best Zip Codes in Oklahoma City for Investors

73108

Cap Rate: 10.6%Cash Flow: +$344/mo$97,376

73129

Cap Rate: 10.5%Cash Flow: +$343/mo$101,156

73111

Cap Rate: 10.3%Cash Flow: +$355/mo$109,140

All Zip Codes in Oklahoma City

Zip	Cap Rate	Cash Flow	Home Price	Rent (3BR)	DSCR
73108	10.6%	+$344	$97,376	$1,220/mo	1.66
73129	10.5%	+$343	$101,156	$1,250/mo	1.64
73111	10.3%	+$355	$109,140	$1,330/mo	1.61
73119	9.6%	+$303	$114,397	$1,310/mo	1.50
73149	9.1%	+$268	$120,853	$1,320/mo	1.42
73109	8.9%	+$236	$113,411	$1,220/mo	1.39
73117	8.9%	+$242	$116,171	$1,250/mo	1.39
73084	8.0%	+$191	$142,023	$1,400/mo	1.25
73105	7.8%	+$190	$156,792	$1,520/mo	1.23
73114	7.3%	+$127	$160,082	$1,470/mo	1.15
73107	7.2%	+$100	$156,717	$1,410/mo	1.12
73134	6.5%	+$17	$200,683	$1,670/mo	1.02
73052	6.5%	+$8	$150,866	$1,250/mo	1.01
73159	6.3%	-$19	$179,318	$1,450/mo	0.98
73135	6.1%	-$50	$208,201	$1,650/mo	0.95
73112	6.0%	-$56	$187,215	$1,470/mo	0.94
73179	5.9%	-$115	$279,899	$2,160/mo	0.92
73002	5.2%	-$178	$174,808	$1,220/mo	0.81
73128	5.1%	-$278	$263,952	$1,830/mo	0.80
73106	5.0%	-$218	$192,902	$1,320/mo	0.79
73170	5.0%	-$348	$290,065	$1,960/mo	0.77
73118	4.9%	-$284	$235,610	$1,590/mo	0.77
73127	4.8%	-$245	$190,955	$1,270/mo	0.76
73139	4.7%	-$273	$192,623	$1,250/mo	0.73
73102	4.2%	-$541	$300,532	$1,810/mo	0.66
73120	4.2%	-$448	$242,935	$1,450/mo	0.65
74831	4.0%	-$426	$211,604	$1,220/mo	0.62
73132	3.9%	-$487	$236,604	$1,350/mo	0.61
73162	3.8%	-$591	$272,715	$1,520/mo	0.59
73104	3.8%	-$786	$361,250	$2,010/mo	0.59
73014	3.6%	-$618	$266,852	$1,440/mo	0.57
73116	3.2%	-$859	$322,217	$1,600/mo	0.50
73103	2.9%	-$989	$342,587	$1,610/mo	0.46
73131	2.7%	-$1,130	$372,044	$1,680/mo	0.43
73142	2.7%	-$1,117	$364,093	$1,630/mo	0.42
73073	2.7%	-$888	$288,738	$1,290/mo	0.42
73169	2.7%	-$1,091	$355,330	$1,590/mo	0.42
73165	2.4%	-$1,275	$379,083	$1,560/mo	0.37
73150	1.9%	-$1,376	$368,382	$1,350/mo	0.30
73173	1.6%	-$1,814	$459,032	$1,560/mo	0.26
73151	0.6%	-$3,121	$645,696	$1,500/mo	0.09