Most people don't like to think about life when they are old, but It's a part of life that most everyone will go through. Making small changes now in how you manage your money could make all the difference. If you bought yourself a house in Oklahoma City, you are already on your way to planning to retirement. Oklahoma City being a linear market, means that your home will grow in value steady over time. Here are the top 5 reasons living in Oklahoma City will help you retire wealthier.
1. Oklahoma City is very stable
You may not get the huge appreciation gains of the east and west coast of the United States but you also wont get the huge losses either. The Oklahoma City Housing market provides an average real estate annual appreciation of %3.5. Stability means predictability and gives you the ability to plan for likely outcomes when buying a house in Oklahoma City. To see our live charts of the Oklahoma City housing market click here.
2. Oklahoma City has a low cost of living, Giving you more cash to Invest!
The overall cost of living in Oklahoma City, OK is 84.6, compared to a national average of 100. This means that the cost of living in OKC is relatively low compared to other US cities. That’s good news for millennials, entrepreneurs, and anyone looking to put more money toward investing!
3. Oklahoma City Ranked #2 place to start a business
Starting a business might be a dream of yours and its also a great way to build wealth and freedom. WalletHub researchers compared the relative startup opportunities that exist in 100 cities across the United States. Researchers looked at 19 metrics, ranging from five-year business survival rates to office space affordability.
After analyzing the findings, Oklahoma City came out as the second best place to start a business.
4. Oklahoma City is a great place to own a rental.
The rental market in Oklahoma City and state remains strong as students and job seekers flock to the metro area. News 9 in Oklahoma City notes that Oklahoma is a very landlord-friendly state, helping to keep the rental market strong for real estate investors.
Key Market Stats:
Median rent in Oklahoma City is $1,086 per month, while rents in the metropolitan area are nearly $1,173 per month.
Rents in Oklahoma City have grown by more than 36% in less than 10 years.
Last year the average rent in Oklahoma City increased by 4%, according to RENTCafé.
Only 37% of the housing units in Oklahoma City are renter-occupied.
85% of the housing units in Oklahoma City rent for less than $1,000 per month.
Most affordable neighborhoods for renters in Oklahoma City include Horseshoe Lake, Capital Hill, and Central Capitol Hill where monthly rents are $570 or less.
Neighborhoods in Oklahoma City with the highest monthly rents include Bricktown, Deep Deuce, and OK Health Center with rents averaging $1,356 per month.
5. Oklahoma City Quality of life
It's been said that failure to play can ruin a good work ethic. Oklahoma City is one of the best places for home buyers and investors. It’s also a perfect location for people looking for a great quality of life, according to News 4 TV in Oklahoma City.
Key Quality of Life Stats:
Oklahoma City is the 5th-best large city for first-time home buyers.
Oklahoma has the lowest electric rates in the U.S.
Livability ranks Oklahoma City as one of the best places to get a fresh start.
Oklahoma City ranks as one of the top 10 cities for veterans to live in the U.S.
NBA’s Oklahoma City Thunder play their home games at the Chesapeake Energy Arena.