ECONOMIC INDICATORS
OKC MSA RANKS #3 NATIONALLY FOR YOUNG HOMEBUYER ACCESSIBILITY Ranks of Young Home Ownership in American MSA’s
SHARE OF HOME PURCHASE LOANS TAKEN OUT BY APPLICANTS UNDER 35 YEARS OLD
HOME OWNERSHIP RATE OF PEOPLE UNDER 35 YEARS OLD
OVERALL RANK
MSA
1
OMAHA, NE
18.20%
62.40%
2
PROVO, UT
24.40%
47.70%
3
OKLAHOMA CITY, OK
18.70%
59.80%
4
TULSA, OK
17.80%
59.60%
5
GRAND RAPIDS, MI
21.10%
49.50%
6
DES MOINES, IA
19.80%
51.60%
7
WICHITA, KS
18.40%
52.80%
8
CINCINNATI, OH
17.00%
54.70%
9
MINNEAPOLIS, MN
16.50%
54.60%
10
AKRON, OH
14.20%
59.60%
Source: Consumer Affairs ‘Where is Homeownership Most Accessible for Young People?’ Where Is Homeownership Most Accessible for Young People? | ConsumerAffairs®; C2ER’s 2024 Cost of Living Index
• The Oklahoma City metro ranked 3rd in accessibility of homeownership among young people, based on the combined metrics of home ownership rates and share of home purchase loans taken out by applicants under 35 years old • OKC MSA ranks 5th in homeownership rate and 2nd in share of loans among buyers under 35.
• Part of this high ranking could be attributed to Oklahoma City’s lower housing costs, as OKC has the lowest average housing prices of large cities (over 500,000 population) in C2ER’s Cost of Living Index.
For comprehensive Economic Indicator and Regional Data, please visit your Greater Oklahoma City Chamber Economic Development Division at www.greateroklahomacity.com/economicindicators or contact Eric Long, Research Economist, at 405-297-8976; elong@
okcchamber.com DID YOU KNOW?
Get regional demographic data, consumer expenditure information, labor force data for the Greater Oklahoma City Region and more at greateroklahomacity.com.
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