In comparison to other cities across the country, individuals can purchase a home with space for the entire family without breaking the bank in Oklahoma City.
SmartAsset recently completed a study evaluating the housing costs of 50 different cities across the nation. According to their study, “the median monthly housing costs for homeowners and renters in Oklahoma City total $916.” At less than $1,000 a month, people spend only 19.81% of the median annual household income on their housing costs, leaving just over 80% of their income available for other lifestyle choices.
Oklahoma City’s monthly housing costs are half of what individuals pay in Boston, where residents spend the most on housing. The Midwest and West seem to be the best options for affordable housing. The other 10 cities identified through the study as places where people spend the least on housing include “Omaha, Nebraska; Kansas City, Missouri; Columbus, Ohio; and Indianapolis, Indiana. Meanwhile, Albuquerque, New Mexico and Tucson, Arizona.”
Regardless of where you live in the U.S. and whether it offers the least or most costly options for housing, it’s a big part of an individual’s livelihood. SmartAsset suggests a few tips for managing housing costs, which include: “make a plan,” “see if buying is a better option,” and “consider professional help.” With the current status of the housing market, these tips may be especially beneficial.
Read more about the study and SmartAsset’s tips through the original article here.
If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
