Greater Oklahoma City Chamber - People can buy six OKC homes for the price of one in Silicon Valley, website finds

People can buy six OKC homes for the price of one in Silicon Valley, website finds

Monday, November 3, 2014

The nation continues to hear that Oklahoma City is one of the most affordable housing markets in the country.

The New York Times focused on Oklahoma City in August when it reported on the trend of people moving to other cities specifically because of the price of housing.

"The country’s fastest-growing cities are now those where housing is more affordable than average. ... Oklahoma City, for example, has outpaced most other cities in growth since 2011, becoming the 12th-fastest-growing city last year," the New York Times' Shaila Dewan wrote. "Newcomers in Oklahoma City have traded traffic jams and preschool waiting lists for master suites the size of their old apartments."

And now the business-news website Quartz compares Oklahoma City homes to those in Silicon Valley, finding that a person could buy six homes here for the price of one in the tech center San Jose, Calif.

"To fully appreciate how frothy Silicon Valley's property market is, consider how many houses you can buy elsewhere for the same price as one in Apple, Google and Facebook's back yard," the website notes.

In the cities Quartz reviewed, it found that people can buy 11 homes in Youngstown, Ohio, for the price of one in San Jose; 10 in Rockford, Ill.; nine in Toledo, Ohio; eight in Binghamton, N.Y.; seven in Wichita, Kan.; six in Oklahoma City; five in Orlando; four in Philadelphia; three in Portland, Ore.; and two in Los Angeles and New York.

Take a look yourself by reading more in the housing section of the Greater Oklahoma City  Chamber's website.

Read the rest of the Quartz story online.

 

 

Oklahoma City's housing market continues to be very affordable when compared to other cities.