Real Estate Investing in Colony, Oklahoma (73021)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 73021 (Colony, OK)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 21.3% of homes vacant — above national norms.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Colony, OK (73021)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 73021 Colony
Not every below-median market is a bargain. Colony's 73021 ZIP reflects signals that favor experienced operators who can absorb the risk $193K pricing implies.
The investment case in 73021 is durable only for operators who understand what they are buying. A $193K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 73021 among OK's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 73021 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The 73021 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Colony:
Market Trends
Home Value History (with trend line)
📊 How Does 73021 Compare?
| Metric | 73021 | Colony | Oklahoma |
|---|---|---|---|
| Home Value | $193,356 | $193,356 | $214,563 |
| 5-Year CAGR | 6.1% | 6.1% | 6.9% |
| Avg Rent | $846 | $846 | - |
| Cap Rate | 3.4% | 3.4% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 73021 (Colony, OK). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 73021 (Colony, OK)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $193,356 |
| Monthly Rent | $846 |
| Price-to-Rent | 19.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.4% |
| 5-Year IRR | 9.5% |
📈 Home Appreciation
| 1-Year | +11.8% ▲ |
| 3-Year CAGR | +7.0% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +6.3% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 73021
Population: 280
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Nearby Colleges & Universities
Investor Insight: With 1,804 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Colony, OK good for house hacking?
House hacking in Colony, OK is a challenging. With home values around $193K and rents at $846/mo, owner-occupants can offset a meaningful share of PITI.
Are renters plentiful in Colony, OK?
Colony, OK draws a reliable base of working renters. Demand at the $846/mo rent level is reasonable for standard single-family and small multi rentals.
Is Colony, OK good for landlords?
Colony, OK falls under OK landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
How strong are rents in Colony, OK?
Investors in Colony, OK typically see rents near $846/mo per month against $193K home values - a solid setup for rental cash flow.
How tight is the rental market in Colony, OK?
Colony, OK carries elevated vacancy risk. Expect even-keeled absorption at market rents of $846/mo.
You know 73021 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 73021 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
AI Market Advisor
Ask questions about investing in 73021 (Colony)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 73021 (Colony, OK).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.