Home prices
The median home in Velma costs $84,600. Compared to nearby areas it is about $7,060 (9%) higher.It is about $132,900 (61%) lower in comparison to the rest of the nation, and in comparison to the city of Oklahoma City is about $73,900 (46%) lower.
Rents
Velma's median monthly rent is $592. It is approximately $45 (7%) lower compared to nearby areas.It is about $470 (44%) lower compared to the rest of the country, and it is about $279 (32%) lower in comparison to the city of Oklahoma City.
Nearby places
Ratliff City
Ratliff City is about 7 miles east of Velma. Its real estate prices are substantially less expensive. The median home cost in Ratliff City is $60,000, which comes out to $24,600 (40%) lower than Velma. The rent there is a little more expensive. Ratliff City's median rent is $625 per month, which works out to $33 (5%) higher than Velma.
Tatums
Tatums is roughly 9 miles east of Velma. Its housing prices are significantly less expensive. The median home in Tatums is valued at $45,000, which is $39,600 (87%) lower than Velma. Rents there are a little more expensive. Tatums's median monthly rent is $675, which works out to $83 (12%) higher than Velma.
Bray
Bray is roughly 14 miles northwest from Velma. Its real estate prices are a bit more expensive. The median home cost in Bray is $109,500, which comes out to $24,900 (22%) higher than Velma. Rent there is a little less expensive. Bray's median monthly rent is $543, which is $49 (9%) lower than Velma.
Duncan
Duncan is approximately 14 miles northwest from Velma. The real estate prices there are somewhat more expensive. The price of the median home in Duncan is $108,900, which works out to $24,300 (22%) higher than Velma. Rents there are a little more expensive. Duncan's median monthly rent is $691, which is $99 (14%) higher than Velma.
Comanche
Comanche is about 15 miles southwest of Velma. Its real estate prices are a bit less expensive. The median home cost in Comanche is $64,300, which works out to $20,300 (31%) lower than Velma. Rent there is a bit more expensive. The median rent in Comanche is $652 a month, which is $60 (9%) higher than Velma.
