Real Estate Investing in Oklahoma City, Oklahoma (73104)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 73104 (Oklahoma City, OK)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Elevated vacancy: 10.7% vacancy may signal weakening demand.
- Flat appreciation: Values have barely moved over 5 years (1.3% CAGR).
- Elevated poverty: 25.3% poverty rate — can affect rent collection.
What’s happening in Oklahoma City, OK (73104)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 73104 Oklahoma City
Not every below-median market is a bargain. Oklahoma City's 73104 ZIP registers signals that favor experienced operators who can absorb the risk $365K pricing implies.
For an experienced owner, 73104 can be a a strong candidate for hunting ground — but the discount at $365K reflects genuine risk that outside investors often underestimate.
Within OK, ZIP 73104 trails on several market indicators that neighboring Oklahoma County submarkets outperform. The gap is real and healthy enough to shape underwriting.
Demographically, 73104 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.
Strategically, 73104 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Oklahoma City:
Property Strategy for 73104
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $396,440 | $1,710 | 3.1% | +1.4% | $198,220 |
| 3BR | $374,802 | $2,300 | 4.4% | +4.7% | $124,934 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 73104 Compare?
| Metric | 73104 | Oklahoma City | Oklahoma City, OK | Oklahoma |
|---|---|---|---|---|
| Home Value | $364,809 | $142,912 | N/A | $214,563 |
| 5-Year CAGR | 1.3% | 4.1% | N/A | 6.9% |
| Avg Rent | $1,641 | $1,288 | N/A | - |
| Cap Rate | 3.5% | 5.0% | - | - |
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 73104 (Oklahoma City, OK). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 73104 (Oklahoma City, OK)?
~25 seconds · no account needed · your report is anonymous
Property managers serving Oklahoma County
Manage rentals here? List your business →All County Heartland is a full-service residential property management company in Edmond, OK, focused on maximizing rental property revenue and maintaining investments. summary from their website
C-Star Management is a leader in property management, offering services for apartments, houses, and duplexes. summary from their website
Substancia Property Management offers single-family, multi-family, commercial, and HOA property management services in the Oklahoma City Metro and surrounding areas. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $364,809 |
| Monthly Rent | $1,641 |
| Price-to-Rent | 18.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 4.8% |
📈 Home Appreciation
| 1-Year | +1.2% ▲ |
| 3-Year CAGR | -0.2% ▼ |
| 5-Year CAGR | +1.3% ▲ |
| 10-Year CAGR | +4.0% ▲ |
🏠 Rent Trends
| 1-Year | -0.9% ▼ |
| 3-Year CAGR | +1.1% ▲ |
| 5-Year CAGR | +2.9% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.5%). 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 73104
Population: 3,746
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
🎓 Schools in 73104
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
DOUGLASS HS
MOON MS
WILSON ES
EMERSON ALTERNATIVE ED. (HS)
EUGENE FIELD ES
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 5,231 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Oklahoma City, OK a good market for buy-and-hold investors?
Yes - Oklahoma City, OK a 2.0/5 investability score. With $365K home prices against $1,641/mo monthly rent, the market delivers a reasonable entry point for new investors.
What kind of vacancy should I budget for in Oklahoma City, OK?
Vacancy in Oklahoma City, OK is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,641/mo.
Does house hacking work in Oklahoma City, OK?
Oklahoma City, OK offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,641/mo rent level.
How much does a house cost in Oklahoma City, OK?
Typical homes in Oklahoma City, OK go for around $365K. The 5-year CAGR of 0.0% reliable price movement.
What is the best play in Oklahoma City, OK?
Most investors in Oklahoma City, OK run a careful cash-flow rentals with hands-on management strategy. It aligns with the 2.0/5 investability profile and the market fundamentals.
You know 73104 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 73104 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.
How 73104 ranks in Oklahoma City, OK
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 73104 (Oklahoma City)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 73104 (Oklahoma City, OK).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.