The first concern that comes to mind is, 'Is it too late to enter the Oklahoma City market now?' From my perspective, having observed this area's market for decades, Oklahoma City has always been a quietly, yet steadily moving market compared to other Sun Belt cities. While there haven't been many flashy news headlines, I can say that the region has experienced relatively low volatility.

Looking at data from Zillow and FHFA, the median home price in the area was around $155,000 at the beginning of 2021, and it has now risen to about $210,000. Calculating the cumulative increase over five years, it is approximately around 35 percent, which is close to the lower end of the 35 to 45 percent range often mentioned as the national average.

Year by year, from 2021 to early 2022, there was a double-digit increase due to the nationwide pandemic effects, but the upward trend clearly slowed during the interest rate hikes in the second half of 2022. However, since Oklahoma City's price range is relatively low, the adjustment was not as significant as in other major cities. It seems that from 2024 onward, a gradual but steady upward trend will continue, and recently, new housing starts have been gradually increasing.

The background supporting the price increase in this area includes stable jobs in aerospace, energy, and healthcare, along with low living costs and low property tax rates. The supply of new homes has not always been sufficient compared to the pace of population influx, which appears to have contributed to gradually pushing prices up. In particular, the expansion of Tinker Air Force Base and nearby industrial complexes has consistently supported local employment.

After talking with Korean households in the area for a long time, it seems that Oklahoma City is often chosen as a first home purchase location due to the lower initial settlement costs. Although prices have risen gradually recently, the entry barriers are still lower compared to other major cities, so for households considering buying instead of renting, I would recommend weighing school districts and job distances. I especially suggest comparing school districts in nearby small towns like Edmond and Norman.

Regarding the future market, it seems more likely that a gradual upward trend will continue rather than a sharp rebound or drop. However, since a significant portion of the local economy is connected to the energy industry, it is advisable to keep in mind that oil price trends can indirectly affect the housing market.

• Stable job base: aerospace, energy, healthcare
• Low living costs and property tax rates
• Gradual new supply shortage

Compared to neighboring Texas or Colorado's major cities, the price increase in Oklahoma City is not particularly striking. However, given the lower price volatility, it can be a more comfortable choice for households approaching retirement or seeking stable asset flows.

Rental demand is also relatively steady. It has been found that securing stable tenants near universities, hospitals, and military facilities has been relatively easy, which can be a reference point for households approaching investment.

If you are considering selling, given that the increase over the past five years has not been significant, I recommend prioritizing practical life circumstances such as your children's education or job relocation rather than rushing. Ultimately, Oklahoma City can be understood as a market where steadiness is its strength rather than flashy spikes.