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Oklahoma can be a good place to retire if you want a tax-friendly state with a lower cost of living than other states, as well as numerous opportunities to explore its natural beauty with relaxing activities.
However, things like extreme weather and limited healthcare access in rural areas might make you think twice about moving there.
This guide goes over the pros and cons of living in Oklahoma to help you decide.
What You’ll Learn in This Guide
We will review real-life data to provide accurate information on whether Oklahoma is a good place to enjoy your golden years. You will discover:
What makes the Sooner State an appealing place to live?
What are the disadvantages of living in Oklahoma?
What are some of the best places to retire within the Sooner State?
Overview
Pros of retiring in Oklahoma
The Sooner State welcomes retirees with an affordable lifestyle, numerous places to relax, and tax-friendly policies. Here are some of the benefits of living in the Sooner State:
Cost of Living and Affordability
Living in Oklahoma means residing in the state with the second-lowest cost of living among other states, according to the World Population Review. There are many reasons for this. The housing market, for example, is not competitive compared to other states. In fact, the Oklahoma real estate industry leads the country in the number of vacant residential properties.
This makes relocating to Oklahoma a budget-friendly move, even in big cities. In 2023, the Council for Community and Economic Research named Oklahoma City the most affordable large city in the country.
The table below compares prices in Oklahoma with the national average to show you how affordable it is to live in the Sooner State.
Tax Benefits
One of the good things about Oklahoma is that it doesn’t tax Social Security, and there’s also no estate or inheritance tax. You can also get a deduction of up to $10,000 on other types of retirement income, which is a nice bonus. The tax rates for those incomes range from 0.25% to 4.75%, which is lower than in many other states.
Communities and Lifestyle
Oklahoma offers a lot of places with a relaxed atmosphere. You can visit some of the state's wineries, enjoy a peaceful boat ride on the Oklahoma River, or take a relaxing stroll through the flowers at the Myriad Botanical Gardens in Oklahoma City.
Here are other spots throughout the state where you can spend a quiet afternoon with yourself or with your loved ones:
Wheeler Ferris Wheel
The Wheeler Ferris Wheel, originally from Santa Monica Pier, now stands over 100 feet tall along the Oklahoma River in Oklahoma City. It features 20 gondolas, each accommodating up to six riders. The surrounding plaza offers hammocks, lawn games, and food options.
Boomer Lake Park
Boomer Lake Park in Stillwater, Oklahoma, offers a peaceful setting with a 3.2-mile paved trail encircling the lake, suitable for walking and biking. The park includes fishing spots, picnic areas, and pavilions.
Pauls Valley City Lake
Pauls Valley City Lake, located northeast of Pauls Valley, Oklahoma, spans 750 acres and offers various recreational activities. The lake is stocked with catfish, crappie, black bass, and saugeye, making it suitable for fishing. The surrounding area includes picnic spots, a pavilion, and a beach area.
Wichita Mountains Wildlife Refuge
Wichita Mountains Wildlife Refuge in southwest Oklahoma spans over 59,000 acres of grasslands, granite mountains, and lakes. It is home to bison, elk, longhorn cattle, and prairie dogs. Visitors can enjoy hiking and birdwatching. The refuge also features a visitor center with educational programs.
Cons of retiring in Oklahoma
Retiring in Oklahoma means planning ahead, due to its different disadvantages:
Weather and Environment
Is Oklahoma safe from extreme weather events? It experienced its fair share of destructive nature in 2024 when the state saw 152 tornadoes, which was the most ever recorded in a single year since 1950. One tornado in Oklahoma last year damaged the downtown of Sulphur, causing over $10 million in property damage.
Along with natural disasters like tornadoes, many cities experienced record-breaking heat. On August 18, 2024, Okmulgee reached a heat index of 123.4°F. In Altus and Hollis, there were 53 days where the temperature reached 100°F or more.
The hot weather and the risk of tornadoes can make living in OK challenging, especially if you're not used to extreme weather.
Healthcare Access
Rural towns in Oklahoma face challenges in healthcare access. There are approximately four primary care providers per 10,000 residents in non-metropolitan regions, compared to seven per 10,000 in urban areas.
Financial difficulties have led to the closure of several rural hospitals, while 24 facilities are at immediate risk of shutting down, according to the Center for Healthcare Quality and Payment Reform. These closures increase the distance rural residents must travel for medical care.
Efforts are underway to address these issues, including initiatives to recruit healthcare professionals to underserved areas and the expansion of telehealth services.
Best Places Within Oklahoma to Retire
The state offers several cities and towns that are appealing for retirement, combining affordability, amenities, and a community atmosphere. Here are three cities that stand out:
Stillwater
Stillwater, Oklahoma, has almost 50,000 residents. The median home value is over $240,000.
It hosts Oklahoma State University, contributing to cultural and educational events accessible to the community.
The city provides a range of healthcare services through facilities such as the Stillwater Medical Center, a 117-bed hospital, which provides specialty services, including heart care.
Recreational opportunities are available through parks and trails. There is also the Stillwater History Museum, where you can find exhibits about the state’s rich Native American history.
Bartlesville
Bartlesville, Oklahoma, is a city with over 38,000 residents. The cost of living in Bartlesville is 24.6% lower than the U.S. average, and housing is particularly affordable, with the average home value at $175,074.
Healthcare services are accessible, with facilities like Ascension St. John Jane Phillips Medical Center, which provides 24/7 emergency care and specialty services, including heart and stroke care.
Bartlesville also offers cultural and recreational opportunities, such as the Price Tower Arts Center and various community events.
Edmond
Edmond, Oklahoma, has a population of around 98,000. The median home value is around $343,336. Healthcare services in Edmond include facilities like the OU Health Edmond Medical Center, providing emergency care and specialty services.
Recreational opportunities in Edmond include parks, trails, and community centers. The city hosts various cultural events and has a range of dining and shopping options.
Other Aspects of Retiring in Oklahoma
Here are additional considerations when thinking about the pros and cons of retiring in Oklahoma:
No Mandatory Retirement Age
Oklahoma does not have a law that sets a specific age when you must retire. You are allowed to keep working for as long as you choose. The state’s retirement system uses a point-based formula for benefits. Indeed, many workers qualify when their age and years of service add up to 90. This flexible approach gives you control over when to stop working, based on your needs and abilities rather than a set age limit.
Low Property Taxes
Oklahoma has some of the lowest property taxes in the United States. The average effective property tax rate is approximately 0.76%.
Final Thoughts: Retiring to Oklahoma
The state offers affordable living, but residing in a state located in Tornado Alley, whether that’s in an Oklahoma ranch or city, means you must be prepared for severe weather. Despite this, the combination of lower living costs and numerous laid-back outdoor recreational activities can be a practical choice for your retirement.
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Frequently Asked Questions (FAQs)
How does Oklahoma rank for retirement?
Oklahoma ranks among the least expensive states for retirees, thanks to its affordable cost of living and low taxes. Median home values are also lower than the rest of the country, and Social Security benefits are not taxed.
Does Oklahoma tax Social Security?
Oklahoma does not tax Social Security benefits. This policy allows you to save money.
How much do I need to retire in Oklahoma?
According to Kiplinger, you need about $50,000 every year to retire in Oklahoma.
What is the average price of a house in Oklahoma?
The median home price in the Sooner State is $208,060.
Disclaimer
The information provided in this guide is for general informational purposes only and does not constitute legal, financial, or professional advice. While efforts have been made to ensure the accuracy and timeliness of the content, laws, regulations, and local conditions are subject to change without notice. Readers should not act upon this information without seeking appropriate professional counsel, especially in financial and legal matters.
