Elk City, OK—73644
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elk City, OK
As of Oct '25, the median home price in Elk City, OK is $162,000, with a year-over-year change of 5.5%. This indicates that home prices in Elk City, OK are increasing. According to Zillow, the 1-year price projection is -0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $162,000 | 5.5% |
| Single Family | $162,000 | 4.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $79,000 | 1.3% |
3 Bed | $191,000 | 4.4% |
4 Bed | $300,000 | 3.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Elk City, OK
As of July '25, Rentcast reports the average rent in Elk City, OK is $1,250, with a year-over-year rent change of 2.5%. Per bedroom, the median rent as of July '25 in Elk City, OK is 3-bedrooms: $1,250. The most common rental property sizes in Elk City, OK are 2-bedroom and 3-bedroom, accounting for 52.3% and 29.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,250 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,250 | $1,250 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Elk City, OK
As of Oct '25, Realtor.com reports that the median days on market for a home in Elk City, OK is 103. This is a increase of 15.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $215,000 | -13.0% |
Listing Count | 104 | 14.0% |
| Listings as % of Homes | 1.0% | 14.0% |
Days on Market | 103 | 15.0% |
Demographics — Elk City, OK
As of the latest ACS Survey released in 2023, Elk City, OK has a population of 13,700, which has decreased by -6.7% over the past 5 years. Elk City, OK is a popular place for families, as children make up 26.3% of the population. The area has a poorly educated workforce, with 17.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,700 | -6.7% |
% Under 18 | 26.3% | -6.7% |
% Seniors | 16.8% | 31.2% |
% WFH | 4.0% | 100.0% |
% w/ College Degree | 17.5% | -8.4% |
As of the latest ACS Survey released in 2023, Elk City, OK is a predominantly white area, with 79.7% of the population identifying as white. The white population has grown by 3.8% in the last 5 years. The second most common race or ethnicity in Elk City, OK is hispanic, making up 14.8% of the population. Foreign-born residents account for 4.3% of the population in Elk City, OK, and this percentage has decreased by 6.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 79.7% | 3.8% |
% Black | 1.7% | -5.6% |
% Hispanic | 14.8% | -2.6% |
% Asian | 1.3% | 8.3% |
% Foreign Born | 4.3% | -6.5% |
Mortgage and Risk — Elk City, OK
According to HUD data as of 2023, there were 165 mortgage originations in Elk City, OK, of which 47.0% of loans were conventional mortgages. The average loan-to-value was 82.0%, with 55.0% above 90% LTV (very high). This implies large mortgage risk in Elk City, OK. Investor activity is low, as 5.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 165 |
% Conventional Loans | 47.0% |
% Government Loans | 53.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Elk City, OK
Elk City, OK lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 236 |
Total Units Section 8 | 90 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 85.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $790 |
| 2 Bedroom | N/A | N/A | $1,030 |
| 3 Bedroom | -$10 | $1,250 | $1,240 |
| 4 Bedroom | N/A | N/A | $1,490 |
Affordability — Elk City, OK
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $162,000 |
| Median Household Income | $51,800 |