Market Overview
Home Prices in Cherokee, OK
The median home value in Cherokee, OK is $62,627 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 23.3% compared to a year ago and down 19.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Cherokee are priced85% below average.
Over the past five years, Cherokee home values have fallen by approximately37.5%, reflecting softening conditions in this market.
Price History
Cherokee Home Price Trend
2020
$85,648
$86K
—
2021
$100,228
$100K
+17.0%
2022
$109,127
$109K
+8.9%
2023
$92,632
$93K
-15.1%
2024
$101,632
$102K
+9.7%
2025
$81,674
$82K
-19.6%
2026
$62,627
$63K
-23.3%
City Comparison
Cherokee vs. National Median
🏠 Cherokee
$62,627
National Median
$410,000
At $62,627, homes in Cherokee cost 85% below the national median of $410,000. This makes Cherokee a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Cherokee?
20% Down Payment
$12,525
on $62,627
Monthly P&I
$327/mo
30-yr @ 6.8%
Total Monthly Est.
~$415/mo
incl. taxes & insurance
Income Needed
$16,600
gross annual (30% rule)
10% Down Option
$6,263
+ PMI applies
Loan Amount (20% dn)
$50,102
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Cherokee, OK?
The median home value in Cherokee is $62,627 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 23.3% year-over-year.
How much have home prices changed in Cherokee?
Over the past year, home values in Cherokee have decreased by 23.3%. Over five years, prices have fallen approximately 37.5%.
How much do I need to earn to buy a home in Cherokee?
To comfortably afford the median home price of $62,627 with a 20% down payment ($12,525) at today's rates (6.8%), you'd need a gross annual income of approximately $16,600. This assumes keeping total housing costs at or below 30% of gross income.
How does Cherokee compare to the national average home price?
The national median home value is approximately $410,000. At $62,627, homes in Cherokee are 85% below the national average.