Lawton, OK
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Lawton, OK, shouldn’t be overlooked when building your investment portfolio. Its housing affordability, low cost of living, and the high percentage of rented properties versus owned are attractive to real estate investors.
Lawton is a smaller investment market, with only 127,314 people, which is a 0.16% change from last year. The market has 34,601 households, with an average of 2.4 people per household, just below the national average. And 51% of the households are married couples, while 86% of housing units are occupied.
Lawton’s cost of living is 10% below the national average. The median home price is $135,609, and changed 4.1% from last year. The median rent is $1,081, a change of 3.8% from last year. The rent-to-price ratio in this market is attractive at 0.8%. The area is more than half renters, offering potential investors a large pool of tenants to consider, since more than half of the properties are rentals.
The median household income in Lawton is $57,196, and the unemployment rate is 3.6%. Many industries in the area attract new residents and give investors more opportunities to build their portfolios.
Lawton boasts a robust manufacturing base, with companies like Goodyear Tire, Republic Paperboard Company, Bar-S Foods, and Silver-Line Plastics. The area is also known for its education and healthcare sectors. It is home to many educational institutions, including Cameron University and Great Plains Technology Center.
There are also a handful of healthcare facilities, including the Comanche County Memorial Hospital and Southwestern Medical Center, and many financial headquarters, such as City National Bank and Trust Company and Fort Sill National Bank.
Fort Sill Military and Cameron University are significant parts of the Lawton economy. Fort Sill employs over 100,000 people and generates over $2 million annually. Cameron University provides economic support and contributes to the area's cultural fabric, while giving real estate investors a large pool of potential tenants, including students and faculty.
Overall, Lawton, OK, offers residents the best of both urban and suburban lifestyles, also offering investors many types of properties to consider. Low home prices make this an affordable area for beginning investors who still need to build their real estate portfolios, providing an encouraging entry point into the market.
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