Lawton is one of the most affordable markets in the country in the South with a small but investable metro of 50,000. At a 6.68% estimated cap rate, this is a solid market where rents of $1,110/mo lag behind home prices. With a median home price of $150,000 and steady population growth supports long-term rental demand, Lawton stands out as a market worth serious analysis for rental investors.
Market data powered by Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) · Updated Feb 2026
Lawton's 0.7% rent-to-price ratio is well below the 1% rule. At median prices of $150,000, the $1,110/mo rent produces only $836/mo in NOI. Investors here need to target below-median properties or pursue value-add strategies to make the numbers work.
On a conventional loan with 20% down ($30K) at 7%, estimated monthly cash flow is $38 — a thin 1.5% cash-on-cash return. Investors should negotiate below asking price or target properties with above-median rents to build a meaningful cash flow buffer.
The 11.3x gross rent multiplier and 5.8% vacancy rate position Lawton as a value-oriented market. With annual appreciation at 2.5%, total returns (cash flow + equity growth) run approximately 9.2% before financing leverage.
Pre-filled with Lawton medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Lawton.
Lawton, OK has a population of 50,000 and has been growing at 0.9% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $150,000 paired with median rents of $1,110/mo produces an estimated cap rate of 6.68%.
Property taxes at 0.88% fall within the national average range and shouldn't present unusual challenges. The vacancy rate of 5.8% is moderate and within normal parameters for a healthy rental market.
At a price-to-income ratio of 2.7x, homes cost about 2.7 times the local median income of $56,350. This relatively affordable ratio suggests a deep pool of renters who find buying out of reach, supporting rental demand. Home values have appreciated at roughly 2.5% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Lawton offers attractive fundamentals for rental investors. low taxes, and cap rates above 6% put it in the upper tier of investable markets.