74048, Nowata, OK

Nowata, Oklahoma is located in the Tulsa metropolitan area. The population of Nowata was 9,871 as of the 2010 census. The median household income in Nowata was $41,921 in 2009, which is lower than the national median household income of $53,046. Home prices in Nowata have been increasing at a rate faster than the national average since 2007. In 2009, home prices were up 18% from 2007 levels and are now over 100% higher than they were in 2006.

The 74048 zip code has seen an increase in home equity and home prices since 2007. As of 2009, there were 1,711 homes for sale in the 74048 zip code and an average asking price of $128,000. This means that homeownership rates are above 70%. Home values have increased by over 100% since 2006 and are now over twice what they were five years ago. This strong market growth is likely due to many factors including low unemployment rates (3%), excellent schools (ranked #2 out of all zip codes within Tulsa), and a relatively low cost of living compared to other areas within Oklahoma.