Market Overview
Home Prices in Elk City, OK
The median home value in Elk City, OK is $173,055 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.7% compared to a year ago and up 7.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Elk City are priced58% below average. Elk City is part of the Elk City, OK metro area.
Over the past five years, Elk City home values have risen by approximately30.4%, reflecting strong long-term appreciation in this market.
Price History
Elk City Home Price Trend
City Comparison
Elk City vs. National Median
At $173,055, homes in Elk City cost 58% below the national median of $410,000. This makes Elk City a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Elk City?
20% Down Payment
$34,611
on $173,055
Monthly P&I
$903/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,147/mo
incl. taxes & insurance
Income Needed
$45,880
gross annual (30% rule)
10% Down Option
$17,306
+ PMI applies
Loan Amount (20% dn)
$138,444
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 Elk City, OK?
The median home value in Elk City is $173,055 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.7% year-over-year.
How much have home prices changed in Elk City?
Over the past year, home values in Elk City have increased by 4.7%. Over five years, prices have risen approximately 30.4%.
How much do I need to earn to buy a home in Elk City?
To comfortably afford the median home price of $173,055 with a 20% down payment ($34,611) at today's rates (6.8%), you'd need a gross annual income of approximately $45,880. This assumes keeping total housing costs at or below 30% of gross income.
How does Elk City compare to the national average home price?
The national median home value is approximately $410,000. At $173,055, homes in Elk City are 58% below the national average.
What metro area is Elk City part of?
Elk City is part of the Elk City, OK metropolitan area. Home prices and market conditions can vary across the broader metro region.