Rental Property in Oklahoma: What the Numbers Actually Look Like

Most articles about landlord risk in a storm state are about cost. This one is about something else.

Oklahoma has the most punishing wind and hail deductible structure in the country. Insurify's read of actual written policies puts the average Oklahoma wind/hail deductible at 1.97% of dwelling coverage — about $6,044 — the highest state average in their study and roughly six times the $1,000 flat deductible that applies to every other peril on the same policy.

Oklahoma also has no insurer of last resort at all. No FAIR plan, no beach or wind pool, nothing. It is not among the roughly 33 states that operate one. That is confirmed, not merely unverified.

Put those two facts together from a landlord's point of view and you do not have an expense problem. You have an asset risk. The deductible means a routine hail claim — the claim you are overwhelmingly most likely to file in Oklahoma — costs you 82.8% of a full year's net operating income out of pocket. The missing residual market means that if a couple of those claims get you non-renewed, there is no state backstop to fall into. You go to the surplus-lines market, which is not rate-regulated by the Oklahoma Insurance Department and carries no state guaranty-fund protection on claims — and a property you cannot insure at a price a deal survives is a property you cannot finance, and eventually cannot sell to anyone who needs financing.

A note before you start: this is general educational information about how rental property arithmetic works in Oklahoma. It is not investment, tax, insurance, or legal advice, and it is not a recommendation about any property. Oklahoma insurance is priced per structure — roof age and material above all, plus construction, claim history, and hail territory — and property tax is administered county by county. Talk to an Oklahoma CPA about tax treatment, a licensed Oklahoma insurance agent about a real quote, and an Oklahoma attorney about anything contractual.

1. What a rental costs to buy here

The Oklahoma statewide median home price is $252,400 — the second-lowest of the seven Southern states in this series.

Oklahoma charges on both the deed and the note, and the two land on different parties by custom:

• Documentary stamp tax on the deed: 0.15% ($0.75 per $500 of consideration), customarily paid by the seller.
• Mortgage recording tax on the note, under Oklahoma Statutes Title 68, Section 1904. This one is the buyer's, and it is tiered by the stated term of the mortgage, not by a flat rate:
  • $0.10 per $100 (0.10%) for a term of 5 years or more — which covers every 15- and 30-year residential mortgage
  • $0.08 per $100 for 4-5 years
  • $0.06 per $100 for 3-4 years
  • $0.04 per $100 for 2-3 years
  • $0.02 per $100 for under 2 years

The mortgage tax is paid once at recording and, per statute, generally exempts the mortgage from further ad valorem taxation as a debt instrument for its term. It applies to purchases, refinances, HELOCs, and home equity loans alike whenever a new mortgage lien is recorded — so it is a cost you pay again every time you refinance.

Oklahoma is an attorney closing state. Closing costs run 2% to 5%; this article uses a 3.5% midpoint.

On the $252,400 statewide median at 25% down:

• Down payment: $252,400 x 0.25 = $63,100
• Loan amount: $189,300
• Closing costs: $252,400 x 3.5% = $8,834
• Mortgage recording tax: $189,300 x 0.10% = $189.30
• Total cash in: $72,123.30

Some closing-cost estimates already fold the mortgage tax in; it is broken out here so you can see it rather than to be double-counted.

The appreciation figure you should read twice

Oklahoma's most recent published appreciation rate is +0.21% a year — 39th among the states in the FHFA's 2026Q1 purchase-only index. On this house that is $530.04 a year.

Now put it next to the insurance trend. Oklahoma premiums are running +5.5% year over year. On a $5,557 premium that is $305.64 more next year.

The premium increase alone consumes 58% of the entire year's appreciation. Not 58% of the cash flow — 58% of the appreciation, which is the thing an Oklahoma pro-forma usually leans on to justify a negative cash flow. There is nothing to lean on here. An Oklahoma analysis has to work on cash flow, because the appreciation column is doing essentially no work.

The homestead exemption you will not get

Oklahoma's general homestead exemption reduces a home's assessed value by $1,000, typically worth roughly $75 to $125 a year in actual tax savings depending on local millage. Homeowners file with the county assessor.

A rental gets none of it — but at $75 to $125 this is the smallest homestead effect of any state in this series, and it is not a material factor in Oklahoma underwriting. Mention it, compute the tax from the purchase price at the county rate, and move on. (Separately, Oklahoma provides a full ad valorem exemption for the homestead of a 100% permanently and totally disabled veteran, via OTC Form 998; that also does not survive conversion to a rental.)

2. The two expenses that decide whether it works

Property tax: middling, and the county rates run higher than the state figure

Oklahoma's effective property tax rate is 0.79%. On the $252,400 median that is $1,993.96 a year, or $166.16 a month.

The county data runs meaningfully above that. Oklahoma County is 0.94% and Tulsa County is 0.90% — the two most populous counties in the state, and both roughly 15% above the statewide figure. If you are buying in either metro, model the county rate. The 0.79% state number is pulled down by rural counties you are probably not buying in.

Insurance: the number that decides everything

The reference figure is $5,557 a year at $300,000 of dwelling coverage with a $1,000 typical all-perils deductible. The state-level file carries a higher $7,255; the honest statement is that credible Oklahoma averages span roughly $5,557 to $7,255, and that even the low end of that range is among the highest in the United States.

At $5,557, the premium is $463.08 a month — 2.79 times the property tax bill and 27.2% of the $20,400 of gross rent in Section 3's example. It is 48.5% of every operating expense combined. Nearly half of everything this property spends is one bill, and that bill is going up 5.5% a year.

Take the identical $252,400 house at the identical rent and tax rate, and change only the premium:

Insurance alone is worth 0.77 percentage points of cap rate across that range and $163 a month of cash flow. That is a narrower spread than Louisiana's or South Carolina's — Oklahoma's problem is not that the premium varies wildly by county, it is that the level is high everywhere and the deductible sitting behind it is the worst in the country.

A rental is not insured on a homeowners form. You need a landlord policy — a dwelling fire form with loss-of-rents coverage — priced for the specific address.

The wind and hail deductible, and why it is a landlord's problem specifically

Oklahoma has no coastal exposure and no hurricane deductible. What it has is worse for a rental owner, because the trigger is far more frequent.

A separate PERCENTAGE wind and hail deductible is standard on modern Oklahoma policies, not an add-on. It is expressed as a percentage of the insured value rather than a flat dollar amount, commonly 1% to 2%, and running as high as 5% in the hardest-hit territories.

Insurify's quote-database read puts the average wind/hail deductible actually written in Oklahoma at 1.97% of dwelling coverage — about $6,044. That is the highest state average in their study.

On a $300,000 dwelling limit:

• 1% = $3,000
• 1.97% (the Oklahoma average) = $5,910 on a $300,000 limit, or $6,044 at the average dwelling value in the study
• 2% = $6,000
• 5% = $15,000

Meanwhile the flat all-perils deductible on the same policy is $1,000. A kitchen fire costs you $1,000. A hail-damaged roof costs you $6,000. The deductible that governs the claim you are overwhelmingly most likely to file is six times the one that governs everything else.

And the frequency is the point. Oklahoma led the nation with 151 tornadoes in 2024 and recorded the third-most hailstorms of any state (767). Roughly two-thirds of Oklahoma hail events over the last three years were classed as severe, and over $467 billion of reconstruction-cost value in the state is exposed to moderate or greater hail damage. This is not a tail risk you reserve for once a decade. It is a recurring operating reality.

Section 3 works out that this rental produces $7,300.24 of net operating income in a good year:

• A 1% deductible ($3,000) is 41.1% of a full year's NOI
• The 1.97% average ($6,044) is 82.8% of NOI
• A 2% deductible ($6,000) is 82.2% of NOI
• A 5% deductible ($15,000) is 205.5% of NOI — 2.05 years

You cannot pass any of it to a tenant. It is not a lease obligation and it is not billable.

Deductible buy-down products exist and are actively marketed in Oklahoma precisely because the standard percentage retention is so large. Get that quote. It is one of the few structural levers available in this state.

Roof settlement: where the headline premium understates the real cost of a claim

This is where Oklahoma gets genuinely nasty for a landlord, and it compounds with the deductible rather than sitting beside it.

It is increasingly common for an Oklahoma policy to carry replacement-cost coverage on the dwelling overall while applying an actual-cash-value or sliding-depreciation schedule specifically to the ROOF once it passes a certain age — a Roof Payment Schedule endorsement.

The practical effect in a hail state is severe. On a single claim the owner absorbs:

1. A percentage wind/hail deductible of roughly $6,000 on a $300,000 dwelling, and
2. The depreciation on an aging roof

Together those can exceed the cost of the repair. That is not a rhetorical flourish; it is the arithmetic. A $14,000 roof replacement on a 15-year-old roof paid at 50% depreciation nets $7,000, less a $6,000 deductible, leaves $1,000 — on a $14,000 bill. You have an insurance policy that pays 7% of the claim.

No Oklahoma statute mandates either settlement basis; roof age and the specific endorsement decide it. Read the endorsement, not the declarations page summary.

A national change pushed further in this direction in March 2026, when the Federal Housing Finance Agency relaxed Fannie Mae and Freddie Mac requirements so that ACV roof coverage can satisfy a lender rather than replacement cost being required — removing a constraint that had preserved RCV roof coverage across roughly 30 million mortgages. In Oklahoma specifically, that removed the last structural protection a financed landlord had by default.

No insurer of last resort, and what that actually means

What Oklahoma has is OK-MAP, the Oklahoma Market Assistance Program — a state-mandated referral mechanism that connects homeowners who have been declined, dropped or non-renewed with participating private carriers.

Understand precisely what that is and is not. OK-MAP does not underwrite, does not issue policies, does not pay claims, and cannot guarantee an offer. If no participating carrier wants the risk, the homeowner has no state backstop. It is a real service and worth naming, but calling it a residual market would overstate what an Oklahoma property owner can actually fall back on.

Declined Oklahoma risks go to the surplus-lines (non-admitted) market, which:

• Is not rate-regulated by the Oklahoma Insurance Department
• Carries no state guaranty-fund protection on claims — if the carrier becomes insolvent, there is no fund behind it
• Commonly writes narrower terms, including ACV roof settlement as standard rather than as an endorsement

For a landlord this is the asset-risk part. Two hail claims and an aging roof can move a property from the admitted market to surplus lines, and from surplus lines to uninsurable at any premium the deal survives. A property that cannot be insured cannot be financed, and a property that cannot be financed can only be sold to a cash buyer at a cash buyer's price. In Oklahoma, roof condition is not a maintenance item. It is the thing that keeps the asset in the admitted insurance market.

3. A full worked example

The property. A single-family house at the Oklahoma statewide median of $252,400.

The rent — read this carefully. This site does not carry rent data. The $1,700 a month used below is an assumption chosen to be plausible for a house at that price. It is not a market observation. Pull three to five real comparable listings for the specific neighborhood and substitute the actual number.

The other assumptions:

• Vacancy: 8% of gross rent (roughly one month of turnover a year)
• Property management: 10% of collected rent
• Repairs and maintenance: 5% of gross scheduled rent
• Capital reserve: 5% of gross scheduled rent
• Financing: 25% down, 30-year fixed at 7.00% — the rate is an assumption, not a quote
• No HOA

Step 1 — income

• Gross scheduled rent: $1,700 x 12 = $20,400
• Vacancy loss: $20,400 x 8% = $1,632
• Effective gross income: $20,400 - $1,632 = $18,768

Step 2 — operating expenses

Management is charged on rent actually collected, not scheduled rent:

• Management: $18,768 x 10% = $1,876.80
• Property tax: $252,400 x 0.79% = $1,993.96
• Insurance: $5,557
• Maintenance: $20,400 x 5% = $1,020
• Capital reserve: $20,400 x 5% = $1,020
• Total operating expenses: $11,467.76

Expense ratio: $11,467.76 / $18,768 = 61.10% of collected rent — above the 35% to 55% band most rentals land in. Insurance is 48.5% of that entire expense line.

Step 3 — net operating income and cap rate

• NOI = $18,768 - $11,467.76 = $7,300.24
• Cap rate = $7,300.24 / $252,400 = 2.89%

The mortgage is deliberately absent from that figure. Cap rate exists to compare properties independently of how they are financed; putting debt service into it is the most common error in this exercise, and it makes two identical houses look like different investments because one buyer put more down.

Step 4 — debt service and cash flow

Loan: $252,400 x 75% = $189,300. At 7.00% over 30 years, principal and interest is $1,259.42 a month, or $15,113.04 a year.

• Annual cash flow = $7,300.24 - $15,113.04 = -$7,812.80
• Monthly cash flow = -$651.07
• Debt service coverage ratio = $7,300.24 / $15,113.04 = 0.48

Step 5 — cash-on-cash return

• Cash invested: $72,123.30 (Section 1)
• Cash-on-cash = -$7,812.80 / $72,123.30 = -10.83%

Rate sensitivity, since 7.00% was an assumption

• At 6.50%: P&I $1,196.50/mo, annual cash flow -$7,057.76
• At 7.00%: P&I $1,259.42/mo, annual cash flow -$7,812.80
• At 7.50%: P&I $1,323.61/mo, annual cash flow -$8,583.08

A full point of rate is worth about $1,525 a year.

The simplest version of the same finding

Add up the three bills a lender escrows:

• Principal and interest: $1,259.42
• Property tax: $1,993.96 / 12 = $166.16
• Insurance: $5,557 / 12 = $463.08
• Total: $1,888.66 a month

Against $1,700 of assumed rent, that is -$188.66 a month before vacancy, management, or a single repair.

4. The expenses people leave out

Vacancy, management, and capital reserves do not arrive as invoices. Nobody bills you for the month the house sits empty, or for the roof you will need in nine years, or — if you self-manage — for your own weekends. So they fall out of the mental model, and the property looks better than it is.

In Oklahoma the capital reserve line is not an abstraction about a distant roof. Section 2 explains that a hail-state roof is on a clock set by the insurance market rather than by the shingles, and that a claim on it nets you a fraction of the cost. The reserve is the roof fund, and in Oklahoma you will use it.

Here is the same house with those three lines removed and everything else identical:

The three omissions are worth $4,528.80 a year of net operating income — $1,632 of vacancy, $1,876.80 of management, $1,020 of reserve. They flatter the cap rate by 1.80 percentage points and hide 58% of the annual loss.

Now overlay the deductible. In the left-hand column the property "earns" $11,829.04 and the average Oklahoma wind/hail deductible of $6,044 looks like half a year's income — unpleasant but survivable. In the right-hand column it earns $7,300.24 and the same deductible is 82.8% of it. The omission does not just flatter the return; it flatters your read of how much risk the property can absorb. That is the more expensive of the two errors.

Vacancy. Eight percent is roughly one month a year, which is what a single clean turnover costs between move-out and the next tenant's first full month. Setting it to zero assumes the house is never empty, including between tenants.

Management. Set it to zero and the return is paying you for your own labor rather than for the property. Self-managing this house saves $1,876.80 a year, lifting NOI to $9,177.04 and the cap rate to 3.64%, with cash flow improving to -$494.67 a month. Real saving; does not fix the deal; stops being free the moment you stop being available.

Capital reserves. The 5%-of-rent convention used above gives you $1,020 a year. Read that against Section 2: the average Oklahoma wind/hail deductible is $6,044. At $1,020 a year it takes just under six years of full funding to cover one deductible — in a state that led the nation in tornadoes in 2024 and ranked third in hailstorms. The 5% convention is arguably too thin for Oklahoma specifically.

A harsher and equally common convention is 1% of purchase price a year for maintenance and 1% for capital, which here is $2,524 each. Run that way: total operating expenses $14,475.76, expense ratio 77.13%, NOI $4,292.24, cap rate 1.70%, cash flow -$901.73 a month, cash-on-cash -15.00%, DSCR 0.28. At $2,524 a year the reserve covers one average deductible in 2.4 years, which is at least the right order of magnitude for the peril.

So the honest cap-rate range for this property is 1.70% to 2.89% depending on which reserve convention you choose — and in Oklahoma there is a defensible argument for the harsher one.

What would actually have to be true

The rent this property needs. For cash flow to reach zero at this price and this financing, gross scheduled rent must reach about $31,131.87 a year, or $2,594.32 a month — 1.03% of purchase price per month, the highest breakeven bar of the seven Southern states in this series. The assumed $1,700 rent is 0.67% of price.

The price this rent supports. Hold rent at $1,700 and solve for the price at which cash flow reaches zero with 25% down: about $137,130, roughly 54% of the statewide median.

The down payment this price needs. Keep the $252,400 price and the $1,700 rent and solve for the loan the NOI can service: about $91,440 — which means roughly $160,960 down, or 64% of the price.

5. What actually varies by county here

Oklahoma's county spread is the narrowest of the seven states in this series, and that is itself the finding: there is no cheap county to run to.

• Oklahoma County (Oklahoma City): effective rate 0.94%, insurance $6,776, median price $225,000
• Tulsa County: effective rate 0.90%, insurance $5,299, median price $254,000
• Statewide: 0.79%, $5,557, $252,400

Note that both major metro counties carry property tax rates roughly 15% above the statewide figure. The 0.79% state number is not the number a metro buyer pays.

Take the identical $252,400 house at $1,700 rent and apply each county's actual tax rate and average premium:

Tulsa and the statewide figure are effectively identical — Tulsa's higher tax rate and lower premium cancel each other almost exactly, to within $20 a year of NOI. Oklahoma County is genuinely worse, and the reason is insurance: it costs $1,477 a year more than Tulsa on the same house, against a tax disadvantage of only $101.

Now run each county at its own median price and a rent scaled to it:

• Oklahoma County at $225,000 with an assumed $1,600 rent, 0.94% tax and $6,776 insurance: loan $168,750, P&I $1,122.70, cash in $64,293.75, tax $2,115, total opex $12,577.40, expense ratio 71.20%, NOI $5,086.60, cap rate 2.26%, cash flow -$698.82 a month, cash-on-cash -13.04%, DSCR 0.38.
• Tulsa County at $254,000 with an assumed $1,700 rent, 0.90% tax and $5,299 insurance: loan $190,500, P&I $1,267.40, cash in $72,580.50, tax $2,286, total opex $11,501.80, expense ratio 61.28%, NOI $7,266.20, cap rate 2.86%, cash flow -$661.88 a month, cash-on-cash -10.94%, DSCR 0.48.

Oklahoma County's median house costs $29,000 less than Tulsa's and still produces $2,179.60 less net operating income. Against the average $6,044 wind/hail deductible, Oklahoma County's NOI of $5,086.60 means one hail claim costs more than the property earns in a year.

What the county averages do not tell you is hail territory. Carriers rate Oklahoma by hail zone at a granularity finer than county, and the deductible percentage they will write varies with it — 1% in some territories, 5% in the hardest hit. The county average premium is a starting point; the deductible percentage on the actual quote is the number that matters. Get the quote for the specific address.

6. Financing a rental is not financing a home

These are the standard mechanisms across the mortgage market. Any specific rate or overlay is your lender's, not this article's.

Down payment. Conventional financing on a non-owner-occupied one-unit property generally requires more equity than an owner-occupied purchase — 20% is usually the floor and 25% the common expectation, which is why this article models 25%. FHA and VA are not available for a property you do not occupy. The genuine exception is house hacking: a two-to-four-unit property you live in one unit of qualifies for owner-occupied programs.

Rate. Investment-property loans price above owner-occupied loans. Fannie Mae and Freddie Mac apply loan-level price adjustments for investment occupancy that scale with loan-to-value and credit score; lenders pass those through as rate or points. The 7.00% modeled above is an assumption. Get a real quote.

The mortgage tax makes refinancing more expensive than you think. Because 68 O.S. 1904 applies whenever a new mortgage lien is recorded — refinances and HELOCs included — every rate-and-term refinance on this property costs another 0.10% of the new loan amount. On a $189,300 loan that is $189.30 per refinance. Small in isolation; worth knowing before you build a strategy around refinancing into a lower rate.

Reserves. Lenders typically require post-closing reserves — months of principal, interest, taxes, and insurance held in liquid assets — scaling with the number of financed properties you own. In Oklahoma, size your own reserve against the wind/hail deductible rather than against the mortgage payment. The lender's PITI-months formula asks how long you could keep paying if rent stopped. The Oklahoma question is different: could you write a $6,044 check tomorrow without selling something?

Rental income counting. Lenders credit a portion of market or lease rent toward qualifying, not all of it. Ask what percentage yours uses and whether they need an appraiser's rent schedule.

DSCR loans. A debt service coverage ratio loan qualifies the property rather than the borrower, comparing property income to debt service and largely skipping personal income documentation. The trade is a higher rate, a larger down payment, frequent prepayment penalties, and a minimum DSCR — commonly stated at or above 1.0 and often above 1.2.

Look at Section 3. This property's DSCR is 0.48, and even with vacancy, management, and reserves stripped out it is 0.78. It does not qualify at 75% loan-to-value on either reading.

Insurability is a financing condition, and in Oklahoma that is the binding one. A roof past 15 years, or two hail claims in the file, can move a property out of the admitted market — and with no FAIR plan behind it, into surplus lines or out of insurability altogether. A lender will not close on a property you cannot insure. Get a bindable landlord quote for the specific address, with the roof age disclosed, during your inspection period. Ask specifically whether the carrier is admitted or surplus lines, because the answer tells you whether there is a guaranty fund behind your claim.

7. What to check before you buy in this state

Insurance, first, and the deductible before the premium.

1. Get a bindable landlord policy quote for the specific address — not a homeowners quote, not a statewide average.
2. Read the wind and hail deductible percentage off the quote and multiply it into dollars against the dwelling limit. The Oklahoma average is 1.97%, about $6,044. Write your number down. It is your minimum cash reserve.
3. Confirm whether the carrier is admitted or surplus lines. Surplus lines is not rate-regulated and carries no state guaranty-fund protection on claims. Oklahoma has no FAIR plan to fall back on if you lose the admitted policy.
4. Ask for the deductible buy-down quote. These products are actively marketed in Oklahoma because the standard retention is so large, and almost nobody asks.
5. Read the roof endorsement, not the declarations summary. Ask in writing whether the roof settles at replacement cost, actual cash value, or on a Roof Payment Schedule, and get the schedule itself. Section 2 shows how a percentage deductible plus depreciation can exceed the cost of the repair.
6. Get the roof age and material in writing, and get an independent roof inspection. In Oklahoma the roof is what keeps the asset insurable.
7. Ask about the property's claim history — a CLUE report on prior hail claims at the address. Two claims in the file changes what carriers will offer you, and there is no backstop here.
8. Confirm the policy carries loss of rents coverage and find out how many months it pays.

Property tax, from the purchase price and the county rate.

1. Use the county rate, not the 0.79% state figure. Oklahoma County is 0.94% and Tulsa is 0.90% — both roughly 15% higher.
2. Recompute the tax with no homestead exemption. It is small here ($75 to $125 a year), but it is not zero.

The transaction costs, which are buyer-side here.

1. Budget the 0.10% mortgage recording tax (68 O.S. 1904) on top of closing costs, and remember it recurs on every refinance.

The rent, from the market.

1. Pull three to five genuine comparable rentals for the specific neighborhood and note how long they sat.
2. Divide monthly rent by purchase price. Section 4's breakeven for this example was 1.03% — the highest bar in this series. And Oklahoma's appreciation figure is +0.21% a year, so there is no second engine to fall back on.

The law, from the statute rather than from an article.

1. Do not take eviction timelines, notice periods, security-deposit handling, or late-fee rules from a blog — including this one. Oklahoma residential tenancies are governed by the Oklahoma Residential Landlord and Tenant Act, Title 41 of the Oklahoma Statutes. Read it at the Oklahoma Legislature's own site, http://www.oklegislature.gov/osstatuestitle.aspx, or have an Oklahoma attorney walk you through it. Security-deposit handling in particular carries specific requirements that are easy and expensive to get wrong.
2. Check the city and county separately: rental registration, inspection requirements, and short-term rental restrictions are local.

The money and the tax treatment.

1. Size your cash reserves against the wind/hail deductible in dollars, not against a month of mortgage payments. At the state average that is roughly $6,044 — and in a state with 767 hailstorms in a year, plan on using it more than once over a hold period.
2. Ask an Oklahoma CPA how the property will be taxed, including depreciation, passive activity loss rules, Oklahoma state income tax treatment of rental income, and treatment on sale.

What to do next

Every figure above came from a data file or was computed in front of you. Re-run all of it with your own numbers.

The Oklahoma rental analysis calculator does exactly the work in Sections 3 and 4 — enter your price, your real local rent, and your own vacancy, management, and reserve assumptions, and it produces NOI, cap rate, cash flow, cash-on-cash, and DSCR. It also warns you when you have left out the expenses Section 4 is about. Given Section 2, try running it once with the capital reserve set to a level that would actually fund a $6,044 deductible and see what it does to the cap rate.

Because the deductible is the number that decides an Oklahoma deal, use the Oklahoma insurance premium estimator — it converts the 1%, 2%, and 5% wind/hail deductibles into actual dollars against a specific dwelling limit rather than leaving them as percentages, and it will get you closer to a real premium than a statewide average that credible sources put anywhere from $5,557 to $7,255.

The Oklahoma mortgage payment calculator gives you the principal and interest figure for the rate you are actually quoted, which Section 3 shows is worth about $1,525 a year per point.

This article is general educational information about rental property arithmetic in Oklahoma, based on figures current as of August 2026. It is not investment, tax, insurance, or legal advice. The rent figures in the worked examples are stated assumptions, not market data. Insurance premiums, property tax assessments, and mortgage rates change and vary by property and by county. Consult an Oklahoma CPA, a licensed Oklahoma insurance agent, and an Oklahoma attorney before buying.