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Oklahoma City, Oklahoma: Lowering Home Values Means Big Business

Oklahoma City, Oklahoma is the largest city in Oklahoma with about 225,000 households. A great reason to live there is a low unemployment rate of 4.1%, against the National average of over 9%, and the cost of living is one of the lowest in the nation, at 21% below the average. Tinker Air Force Base is a major employer in the region. The median home value is down 2.5% from last year, at $124,420. Since there was 1 in every 452 housing units receiving foreclosure filings in August 2010, the foreclosure listings are bursting with opportunities for new home owners. Currently, there are about 3,162 foreclosures and 854 pre-foreclosure and auction homes on the market.