Real Estate Investing in Elk City, Oklahoma (73644)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 73644 (Elk City, 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: 19.0% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Elk City, OK (73644)?
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Market Analysis: 73644 Elk City
Not every below-median market is a bargain. Elk City's 73644 ZIP comes in at signals that favor experienced operators who can absorb the risk $175K pricing implies.
On balance, the numbers look inviting — $175K purchase price, 0.0% nominal cap — the work to hit that pro forma in 73644 is substantial and deserves full respect.
Nearby ZIPs in Elk City have seen price recovery that 73644 has not matched. Beckham County data supports the view that the spread is structural rather than temporary.
A solid renter share of 33% in 73644 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategy in 73644 is an operator game, not a passive one. In practical terms, entry prices of $175K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Elk City:
Property Strategy for 73644
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $78,621 | $1,070 | 9.8% | +4.9% | $39,310 |
| 3BR | $191,132 | $1,280 | 4.8% | +5.9% | $63,711 |
| 4BR | $299,849 | $1,530 | 3.7% | +5.4% | $74,962 |
Market Trends
Home Value History (with trend line)
📊 How Does 73644 Compare?
| Metric | 73644 | Elk City | Elk City, OK | Oklahoma |
|---|---|---|---|---|
| Home Value | $174,852 | $174,852 | N/A | $214,563 |
| 5-Year CAGR | 5.9% | 5.9% | N/A | 6.9% |
| Avg Rent | $963 | $963 | N/A | - |
| Cap Rate | 4.3% | 4.3% | - | - |
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 73644 (Elk City, OK). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $174,852 |
| Monthly Rent | $963 |
| Price-to-Rent | 15.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.6% |
| Cap Rate | 4.3% |
| 5-Year IRR | 10.2% |
📈 Home Appreciation
| 1-Year | +7.6% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | +3.0% ▲ |
🏠 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 (4.3%). 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 73644
Population: 13,687
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 73644
Schools in This ZIP Code
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 545 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Should investors consider Elk City, OK?
The 3.0/5 investability rating in Elk City, OK reflects its $175K prices and $963/mo rents. Investors generally consider it a solid option within OK.
What are rental rates like in Elk City, OK?
Rental rates in Elk City, OK average $963/mo. Tenant demand and $175K home values make the yield look reasonable by investor standards.
Is vacancy a concern in Elk City, OK?
Rental vacancy in Elk City, OK is elevated. Investors should budget normal turnover but not chronic empty units.
Does a duplex house hack pencil in Elk City, OK?
For house hackers, Elk City, OK is a challenging. The $963/mo rent on a unit helps defray the mortgage on a $175K property.
How do experienced investors play Elk City, OK?
The best-fit strategy in Elk City, OK is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
You know 73644 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 73644 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.
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Community Ratings
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