This is a complete analysis of the best cities in Oklahoma for house flipping.
Backed by data with sources.
Learn where the distressed properties are, how long it takes to flip, and which cities are the most profitable.
Let’s jump right in:
Best Cities in Oklahoma to Flip Houses
Here are the 5 best cities in Oklahoma for fix and flip investors:
Oklahoma City
Oklahoma City stands out with its vibrant real estate market. The market also is known to have a fast turnaround time. Ideal for flipping houses. Homes in Oklahoma City typically spend an average of 34 days on the market – a fast buying cycle that benefits flippers.
With 18.9% of homes selling above list prices, it reflects a competitive environment where buyers are willing to pay a premium. The average median home value in Oklahoma City is $256,494, at least as of December 2023. This is somewhat higher than other cities in Oklahoma.
The influx of residents mainly comes from cities like Dallas, Denver, and Kansas City. These residents are attracted by Oklahoma City’s robust job market and high quality schools, further fueling the demand for housing. This makes Oklahoma City a prime location for house flipping.
Median days on the market: 34
Median home price: $256,990 (+6.2%)
Homes sold above list: 18.6%
Housing market data
Tulsa
Tulsa is an attractive market for investors with its unique blend of historical charm and modern amenities. It’s a very competitive market for homebuyers and investors.
The median days on the market for homes in Tulsa hovers around 24 days, with 19% of homes selling above the list price. The median home value here is $221,000 and hot homes can sell in around 6 days.
This signals a healthy demand and a willingness among buyers to invest in premium properties. The city draws new residents primarily from Houston, Chicago, and St. Louis. This is mainly driven by Tulsa’s affordable living costs. All of this enhances its appeal for real estate investing.
Median days on the market: 24
Median home price: $220,500 (+5.3%)
Homes sold above list: 19.1%
Housing market data
Edmond
Edmond is renowned for its excellent schools and family-friendly atmosphere, making it a top choice for house flippers. Edmond is a great starting point for new investors looking to get into fix and and flipping.
Homes in Edmond typically sell after 23 days on the market, and 23.5% of homes sell above the list price. This highlights the city’s competitive real estate market, which is ideal for flipping.
The migration of residents is mainly from areas like Phoenix, Seattle, and San Antonio. They are attracted by Edmond’s high-ranking school districts and community-oriented lifestyle. This drives up local housing demand, creating opportunities for profitable real estate investments.
Median days on the market: 24
Median home price: $325,000 (+0.6%)
Homes sold above list: 23.3%
Housing market data
Norman
Norman, home to the University of Oklahoma, has a dynamic real estate market. Popular among families and young professionals, it’s one of the best cities for house flipping in Oklahoma.
The average home spends about 19 days on the market, with 19.6% of homes exceeding the list price upon sale. This is much faster than the national average and should get you excited.
The city’s educational institutions and vibrant cultural scene attract newcomers from cities like Minneapolis, Atlanta, and Los Angeles. This ensures a steady demand for housing and makes Norman a favorable spot for house flippers.
Median days on the market: 20
Median home price: $227,500 (-8.1%)
Homes sold above list: 19.8%
Housing market data
Broken Arrow
As one of the fastest-growing cities in Oklahoma, Broken Arrow’s market is ideal for house flipping. Homes average 23 days on the market and 26.4% are sold above the list price. Median home values in Broker Arrow are around $274,000.
The influx of residents from Nashville, San Francisco, and New York City, drawn by Broken Arrow’s safe neighborhoods and highly ranked school districts, positions the city as an attractive option for real estate investors.
Median days on the market: 23
Median home price: $274,000 (+9.6%)
Homes sold above list: 26.4%
Housing market data
Is Oklahoma a good market to flip houses?
The real estate market is attractive to investors who want to flip houses in Oklahoma. There is a strong buyer demand and a diverse range of investment opportunities across various cities.
Compared to national averages, Oklahoma’s median home price is lower, making it easier to find properties within your budget. This is especially true for investors who turn to Oklahoma hard money loans and look for the best housing prices and profit margins.
Oklahoma also has a growing population, which ensures a growing market for investment properties. Successful house flipping depends on the right market prices and fast turnaround times. Oklahoma real estate offers both.
Do you need a license to flip houses in Oklahoma?
In Oklahoma, you generally don’t need a real estate license to flip houses. However, if you engage in brokerage services, you’ll need a real estate license.
How much do house flippers make in Oklahoma?
According to ZipRecruiter, the average annual salary for fix and flipping in Oklahoma is $73,134. The salary amounts range from $33,240 to $109,877.
Houzeo mentions an average gross profit of $38,830 per flip, compared to the national average of $60,000. Flipping in bigger cities like Oklahoma City or Tulsa often generates higher potential profits than smaller towns.
Is flipping houses in Oklahoma still profitable in 2024?
There is definitely potential profits to be made by flipping houses in Oklahoma in 2024, especially during a growing market. The market has shown growth in recent years, with median home prices increasing and inventory tightening.
Keep in mind that some cities like Oklahoma City and Tulsa offer better profit potential. This is because of higher demand and prices. Smaller towns may have lower competition but also come with lower returns.
While these are the best cities for house flipping in Oklahoma, it doesn’t mean you won’t find great deals elsewhere. Many other cities in OK have lots of distressed properties to fix and flip. If you’re interested in buying a property and need fix and flip financing in Oklahoma, contact us to get started.
Data updated February 16, 2024