Oklahoma still a bargain for homebuyers

The cost of a house continues to rise across the nation but remains a bargain in Oklahoma compared to other areas of the country. Tulsa and Oklahoma City have the lowest median home prices among 51 metropolitan areas with at least 1 million residents, according to a new report issued by Porch.com. They also have the lowest home-price-to-income ratio. The report shows homebuyers pay just under three times their average household income of $57,859 in Tulsa and $60,605 in Oklahoma City. That falls in line with advice from financial experts who agree that people should spend no more than 28% of their gross monthly income on housing.