Oklahoma’s real estate market, like many across the nation, has experienced significant growth in home values since the 2020 pandemic. While this growth has moderated since 2023, prices remain at historically high levels. An analysis of Zillow’s Home Value Index and Census Bureau data, utilizing both current November 2024 values and a 12-month average from December 2023 through November 2024, reveals the top 25 most expensive ZIP codes in the state, highlighting the concentration of affluence and desirable housing markets.
The top five most expensive ZIP codes paint a picture of Oklahoma’s high-end residential landscape. Leading the pack is 73007 in Arcadia, a picturesque area northeast of Oklahoma City, known for its small-town charm and secluded homes. The area boasts a high median household income of $154,250, contributing to the impressive median home value of $510,145 in November 2024. This represents a substantial 34.1% increase from November 2019, though year-over-year growth has stabilized to a modest 0.4%.
Edmond, a rapidly growing suburb of Oklahoma City, claims two spots in the top five. ZIP code 73025, ranking second, represents northwest Edmond and displays even higher income levels than Arcadia, with a median household income of $176,808. The area has experienced a remarkable 40% surge in median home values since November 2019, reaching $479,343 in November 2024. This reflects the area’s increasing desirability and the overall trend of escalating housing costs following the pandemic.
Southeastern Oklahoma City’s 73173 secures the third position, featuring attractive developments and proximity to Will Rogers World Airport. While boasting high incomes, they are slightly lower than the top two ZIP codes, with an average household income of $154,906. Home values in this area have also seen considerable growth, a 29% increase since 2019, reaching a median of $422,662 in November 2024. This highlights the broader trend of rising home values across desirable areas in Oklahoma City.
Tulsa makes its presence known with 74137, ranked fourth, representing a desirable southern area with a suburban feel. This ZIP code stands out with nearly a quarter of households earning $200,000 or more annually, alongside a median household income of $103,963. This area also experienced significant appreciation, with a 40.2% increase in median home value since 2019, reaching $413,534 in November 2024. This underscores Tulsa’s emergence as a center for high-value real estate.
Rounding out the top five is Edmond’s 73034, filled with newer, attractive developments and a robust income profile. Almost a quarter of households earn $200,000 or more per year, further emphasizing the area’s affluence. With a median home value of $399,497 in November 2024 and a median household income of $113,296, this ZIP code demonstrates a relatively balanced relationship between income and home values, unlike many other parts of the country where similar income levels struggle to keep pace with escalating housing costs. This relative affordability within a high-value area contributes to its desirability.
The overall picture painted by these top five ZIP codes highlights Oklahoma’s dynamic real estate landscape, particularly in the areas surrounding Oklahoma City and Tulsa. The growth in home values, while moderated, continues to reflect the high demand for housing in these desirable areas, driven by strong local economies and high household incomes. The mix of established and newer developments, coupled with varying levels of affluence, creates a diverse range of options for those seeking high-end housing in Oklahoma.
The analysis of these ZIP codes provides valuable insights into the factors driving Oklahoma’s real estate market. The concentration of high-income households, particularly in areas like Arcadia and Edmond, contributes significantly to rising home values. Furthermore, the presence of newer, attractive developments adds to the appeal and drives demand. The data also underscores the impact of the pandemic-era housing boom, which propelled values to historic highs, although the rate of growth has since stabilized. The relative affordability in some of these high-value areas, such as 73034 in Edmond, further adds to their attractiveness and contributes to the competitive nature of the market.
Looking forward, understanding the dynamics within these high-value ZIP codes is crucial for both buyers and sellers. Buyers should be prepared for a competitive market and factor in the high cost of entry. Sellers, on the other hand, are well-positioned to benefit from the continued demand for housing in these desirable areas. However, the moderating growth rates suggest a potential shift towards a more balanced market, where price appreciation may not be as dramatic as in recent years. This calls for careful consideration of market trends and informed decision-making.
The data presented also underscores the broader economic trends within Oklahoma. The high incomes and concentrated wealth in these ZIP codes reflect the state’s economic strengths and the presence of industries that support high-paying jobs. This, in turn, fuels the demand for high-value housing and contributes to the overall economic vibrancy of the state. Understanding the interplay between these economic factors and the real estate market is crucial for policymakers and developers seeking to ensure sustainable growth and development.
Finally, the analysis of Oklahoma’s most expensive ZIP codes provides a window into the evolving nature of American suburban landscapes. The growth of areas like Edmond exemplifies the trend of affluent populations seeking housing options outside of major city centers, while still benefiting from proximity to urban amenities. This migration is driving the development of new communities and reshaping the demographic and economic makeup of suburban areas. Understanding these shifts is essential for anticipating future housing trends and developing strategies to meet the evolving needs of a changing population.
