The $2,200,000 Home in Oklahoma

Oklahoma has one of the most affordable housing markets in the United States. Across the nation, the housing market is currently in a slump, supposedly making it more of a buyers market. Still, depending on what source is used, the median home price in the United States is about $228,900. The median home price in Oklahoma is much lower. However, there are still some extremely expensive homes on the market even in Oklahoma.

The $2,200,000 Home

In Norman, Oklahoma, home of the University of Oklahoma, there is a home for sale for the astounding list price of $2,200,000. That is two million, two hundred thousand dollars!

This tri-level home has six bedrooms and six bathrooms among its sprawling 8000 square feet of interior space. The home was originally about half that size, built in 1930. The home almost doubled in size when added onto and updated in the early 2000's. The home now has a game room, three fireplaces, and a hot tub.

The lot on which the house sits is about half an acre. Although half an acre is larger than most city home lots, it is certainly no sprawling estate.

The actual home for sale for $2,200,000 is pictured to the left.

The Condition of the $2,200,000 Home

The city of Norman is located in Cleveland County in Oklahoma. The Cleveland County Assessor's Office lists this home as being in "average" condition. I was expecting the description of this home to include "driveway paved in gold and studded with diamonds." Perhaps if the home sat on a valuable oil well, that would explain the cost. Alas, there is no such indication.

The $11,638 Per Month Mortgage

Based on a 30-year fixed rate of 6.94% with 20% down, the monthly mortgage payment would be a whopping $11,638.

A $440,000 Down Payment

Assuming you pay full price for the $2,200,000 house rather than negotiating a lower price, 20% down would be $440,000. The down payment alone is over five times the total purchase price of my home in the same city of Norman, Oklahoma.

The Neighborhood

I personally live within easy biking distance of the $2,200,000 house. The author enjoys her home, her neighborhood, and the city of Norman, Oklahoma. Norman is home to the University of Oklahoma (OU), making it the quintessential college town with all the accompanying amenities.

The location of the $2,200,000 home is in central Norman. Many people consider it desirable to live close to the OU campus. The beautiful OU campus can be seen from the $2,200,000 property. OU President, David Boren, lives just down the street.

Is the $2,200,000 House Worth it?

For a home to be worth over two million dollars, I would expect it to be an Italian villa situated on a huge estate. Perhaps the home would have a view of the Pacific Ocean on one side and the gorgeous Redwood Forests on the other. The $2,200,000 home in Norman, Oklahoma has none of these things.