With a 4.75% top income tax rate and 0.87% property tax, Oklahoma homeowners face a moderate combined tax burden. This calculator is pre-filled with Oklahoma numbers: $200,000 median price, 0.87% property tax, $2,600/year insurance.
Last updated: March 13, 2026
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Monthly Payment (Oklahoma)$0
Loan Details — Oklahoma
Oklahoma median: $200,000
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Below 20% triggers PMI on conventional loans
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Average 30-year fixed ~6.75% (March 2026)
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Oklahoma average: 0.87%
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Oklahoma average: $2,600/yr
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Property Tax
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Oklahoma Metro Area Home Prices
Click a metro to load its median price into the calculator above.
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Oklahoma's Tax Landscape and Your Mortgage
Oklahoma uses a progressive income tax with a top rate of 4.75%. A household earning $150,000 pays an estimated $4,631-$6,056 in state income tax, depending on filing status and deductions. That's $445/month less available for housing costs.
At the state's median home price of $200,000, the $0.87% property tax rate adds $145/month to your mortgage payment. That's $1,740/year — below the national median of ~1.1%.
Property Taxes Across Oklahoma
The 0.87% statewide average masks significant variation. Property taxes are moderate but insurance burden is significant
Price ranges across the state: Oklahoma City has a median of $230,000, while Tulsa sits at $215,000 — a $15,000 gap that dramatically changes your monthly payment. At $0.87% property tax, that price difference alone means $11/month more in property tax in Oklahoma City.
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Homebuyer Programs and Exemptions
Oklahoma offers several programs for homebuyers:
OHFA Homebuyer Down Payment Assistance
OHFA Gold program with $3,500 assistance
Homestead exemption: Homestead exemption of $1,000 in assessed value; additional freeze for low-income seniors/disabled
Oklahoma-Specific Considerations
Very affordable housing market
High insurance costs due to tornado alley location — hail and wind damage drive premiums
Property taxes are moderate but insurance burden is significant
Tribal land considerations in some areas affect title insurance
Property tax rates vary by county — Oklahoma County and Tulsa County differ from rural areas
Insurance Costs in Oklahoma
At $2,600/year, Oklahoma's average homeowners insurance premium is significantly above the national average of approximately $1,500/year. That's $217/month added to your housing cost — a factor that's easy to overlook when comparing states. High insurance costs due to tornado alley location — hail and wind damage drive premiums
Compare Oklahoma Mortgage Rates
See personalized rates from Oklahoma lenders. LendingTree matches you with up to 5 offers so you can compare and save.
0.39% property tax, 5% top rate. Median home: $232,500.
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1.04% property tax, no income tax. Median home: $340,000.
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0.62% property tax, 2.5% top rate. Median home: $395,000.
Frequently Asked Questions
What is the average property tax rate in Oklahoma?
The average effective property tax rate in Oklahoma is 0.87%. On a $200,000 home (the state median), that works out to approximately $1,740/year or $145/month added to your mortgage payment. Property tax rates vary by county and school district within Oklahoma — always check your specific jurisdiction's rate. Homestead exemption: Homestead exemption of $1,000 in assessed value; additional freeze for low-income seniors/disabled
How much does homeowners insurance cost in Oklahoma?
The average annual homeowners insurance premium in Oklahoma is approximately $2,600 ($217/month). This is well above the national average of approximately $1,500/year, largely driven by natural disaster risk in the state. Actual premiums depend on your home's location, age, construction type, and coverage limits.
What first-time homebuyer programs are available in Oklahoma?
OHFA Homebuyer Down Payment Assistance. OHFA Gold program with $3,500 assistance. These programs typically have income limits, purchase price caps, and may require homebuyer education courses. Check the Oklahoma housing finance agency website for current eligibility requirements and application deadlines.
How does Oklahoma's 4.75% income tax affect home affordability?
Oklahoma's top income tax rate of 4.75% reduces your take-home pay, which affects how much mortgage you can comfortably carry. On a $150,000 salary, state income tax takes roughly $4,631-$6,056/year (effective rate is lower than the top marginal rate). Combined with 0.87% property tax, the total tax burden in Oklahoma is above average. Use our paycheck calculator to see your exact take-home pay.
What is the conforming loan limit in Oklahoma?
The 2026 conforming loan limit in Oklahoma is $806,500. Loans above this amount are considered jumbo loans and typically carry higher interest rates (0.25-0.5% premium), require larger down payments (10-20%), and have stricter qualification requirements including higher credit scores (700+) and lower debt-to-income ratios.
This calculator is for educational purposes. Tax rates and insurance costs are based on Oklahoma state averages and may not reflect your specific county, school district, or municipality. Consult a financial professional for advice specific to your situation.