Oklahoma – The State of Success

Vol1 iss4 2015

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O K L A H O M A – T H E S T A T E O F S U C C E S S 37 Homegrown Advantage H O U S I N G V A R I E T Y he race toward affordable housing is on and Oklahoma is taking the lead. Oklahoma City's housing market is among the nation's best. The city was listed in the top fve "Best Places to Buy a Home" by both ABC News and Forbes. The median sale price of a home in Oklahoma is $137,000 — among the lowest in the country. In Oklahoma, you can have your dream home for half of what it would cost in a coastal market. With low property taxes and limited traffc jams, residents of big cities are packing their bags and heading to the Sooner State. A four-bedroom house in Oklahoma costs around $169,967, compared to $517,776 in New York and $304,585 in Texas. OKC has outpaced most other cities in growth since the recession, becoming the 12th- fastest-growing city in 2014. The city has also won over young adults ages 25 to 34, adding even more to the state's desirability. Steadily increasing rent costs and the diffculty of securing a mortgage on the coasts have caused a migration to inland cities because they offer the middle class a lower cost of living and less stress. In Oklahoma, you can have it all — the small suburb, city living or a peaceful rural home with lots of land, all at a steal. The costs of living and taxes are both 11 percent below the national average, and the cost of housing is 17 percent below the national average. At every price level, Oklahoma offers homes for far less than almost any other major market. The affordability of a home and the cost of living are major factors for businesses and people choosing to relocate, and Oklahoma has a homegrown advantage. Clean air, a beautiful natural landscape and the refurbishing or rebuilding of all 73 inner-city schools in Oklahoma City add even more reasons to make the move. On top of all of that, even as it grows, the state maintains the feel of a close-knit community. b y C R Y S T A L V I L L A R R E A L T Statistic s cour tesy VeloCit y, Vol 10

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