The question that many people ask is, “Is the Lawton housing market better than that of Cache?” The answer is not a simple one. While the area surrounding Cache is booming, the local housing market is relatively stagnant. That’s because the median price for homes in this area is just over $300,000 – not exactly an affordable price to purchase a home.
Cost of Living in Cache County
The average cost of housing in Cache is $3,150 – slightly higher than in Cache – but still lower than the surrounding metro areas. The median price of homes in Cache is $486 per month, making it less expensive than in neighboring towns. The median cost of living in Cache is $2,800, whereas in Faxon, the median price is $5,400.
Distance between Cache and Faxon
Both Cache and Faxon have a proportion of homes worth between $50,000 and $100,000. The renter-owned ratios in both areas are 30% and 69.4%, respectively. This suggests that the housing market in Cache is better than in Cache, compared to Cache. However, both cities offer a higher median rent than Faxon. Neither area is significantly more expensive than the other, but the average price for a home in either city is significantly cheaper.
Cache Miss Rate
When comparing prices, Cache has the lowest proportion of homes priced between $50,000 and $100. While Faxon and Lawton have lower rents, both are affordable compared to Cache. Moreover, the median owner cost of a home in either city is $828 – or 15% of the household income in the entire region. This is not the case for all cities and towns in the metro area, but still, the comparison is not as clear-cut as it might seem.
Is Lawton a decent place to live?
When it comes to affordability, the two cities rank high when compared to their own rent costs. However, Cache has the lowest proportion of homeowners in the region, with a percentage of just under 30%. The median rent in both cities is around $250, and Faxon is only slightly higher. The two cities are also significantly closer to the Oklahoma City metro area, so it is likely that both are a good places to purchase a home.
Affordable Houses for Rent in Cache
The rents in Cache are also relatively cheap. Compared to Cache, it is more affordable in Faxon, as its median owner costs are between 300 dollars and $750. This is a much better percentage than in Cache, as it will make it more affordable to buy a home in Cache. The median home cost in both cities is lower, too. In addition, the property tax rates in both cities are lower than those of the neighboring communities.
House or Flat – Owning or Renting
The cost of living in Cache is lower than in Faxon. The average cost of housing in Faxon is between 40 percent and 50% cheaper. The price of rent in Cache is slightly higher than in Faxon. Both cities have a similar renter to homeowner ratio, so you should look for properties with lower rents in both cities. If you’re a renter, Cache is the better option.
Are Renters Happier Than Homeowners?
The cost of living in Cache is the second-lowest in Oklahoma and is between seventy and eight percent lower than Faxon. This is great price comparison, but there’s no need to settle for anything less than the highest possible. If you can afford it, Cache is the right choice. This city is in the center of the metro, so it is close to everything.
What Is A Good Rent To Value Ratio?
Compared to Cache, Lawton has a better renter to homeowner ratio, with more homes owned than rented. Despite its low renter-to-owner ratio, Cache has a higher renter-to-owner ratio and is slightly more expensive than the average for the region. In contrast, Geronimo is a much better value in terms of median property values and home sales.
Cache Is Higher Than In Faxon
The median cost of housing in Cache is higher than in Faxon. Both are lower than infra-red-coated units, with the highest rent ratio at seventy-two percent. The rent in Cache is a lot more affordable than the median income in both cities. The proportion of homeowners in the region is slightly lower than in Faxon. In addition, the two cities have a lower rent-to-income ratio than each other.
