Oklahoma City Real Estate Market 2026: Undervalued at $315,000 With a Score of 59

Oklahoma City scores a 59 out of 100 on the PropertyIQ index as of February 28, 2026.

A score of 59 puts Oklahoma City just above the national average. The more relevant data is what sits underneath that number: a Zillow median home value under $250,000 in a major metro where the market is modestly below fundamental value.

Undervalued in a Rare Price Range

Oklahoma City is 3.1% below fundamental value as of February 2026. Zillow median home value: approximately $240,247 as of January 2026. Median listing price: $315,000 as of February 2026. Home values are flat year over year. Most major metros in 2026 are either overvalued or at parity. A market below fundamental value at this price point is increasingly rare.

What Is Working

Pending-to-active ratio: 0.4476 -- 45% of listings are going under contract. Homes average 58 days on market. Home sales volume is up 7.4% year over year -- a meaningful demand signal even in a soft market. Zillow forecasts 2.2% near-term appreciation as of December 2025. Unemployment: 3.6% as of December 2025.

What Is Not

Price cuts affect 18.34% of listings as of February 2026 -- one of the higher rates among markets in this score range. Inventory is up 11.46% year over year. These numbers reflect a market where supply is growing faster than demand is absorbing it.

The Cash Flow Math

Average rent: approximately $1,357/month as of December 2025. Monthly gross rent-to-price ratio on the Zillow median value: roughly 0.56%. Median household income: $70,499 (2023 Census). Oklahoma City's economic base spans energy, government, and healthcare -- more concentrated than diversified Midwest metros, which is the primary risk factor for a long-term hold.

For investors focused on entry price and current undervaluation, Oklahoma City presents a case that is harder to make in most of the country right now.

PropertyIQ score as of February 28, 2026. Listing and inventory data as of February 1, 2026. Rent and forecast data as of December 2025. Census and economic data 2023-2025. All data for informational purposes only.