74051, Ochelata, OK

The 74051 zip code of Ochelata, OK is located in the northeastern corner of Oklahoma. The area is rural and has a population of about 1,000 people. Home prices in the 74051 zip code have been increasing steadily over the past few years, reaching a median price of $119,900 in March 2017.

One reason for the increase in home prices in the 74051 zip code is that there are a limited number of homes available for sale. In addition, many residents are buying homes because they plan to live in them for a long time. This means that there is strong demand for homes in this area.

Another factor contributing to the increase in home prices in the 74051 zip code is low interest rates. Since many people are able to borrow money against their home equity, they are able to buy homes at a lower cost than if they were borrowing money from a bank or other institution.

There are some risks associated with buying a home in the 74051 zip code. If you do not have enough money saved up to cover your down payment and other closing costs, you may not be able to purchase a home. Additionally, if interest rates rise significantly (which they have done recently), you could lose money on your investment if you buy a home before rates go back up again.