Lake Texoma real estate is an exciting market. Located where the Red River meets the Washita on the Texas-Oklahoma border, the Lake Texoma area offers comfortable small-town living and outdoor recreation for the whole family. Whether you’re looking for a full-time home or a beloved vacation getaway, this beautiful location is worth exploring.
At American Dream Realty, we know a real estate purchase is a big decision. If you’re considering the pros and cons of living in Oklahoma on a popular lake, we have the facts you need.
1. There Are Many Kinds of Lake Texoma, Oklahoma, Homes for Sale
When people think of lakefront property, certain images come to mind. Some think of sprawling luxurious mansions, while others picture rustic cabins. Lake Texoma real estate has both, plus much more.
Among homes for sale on the Oklahoma side of Lake Texoma, you’ll find lakefront homes that range from small and simple to high-end and grand. Some have docks, while others eschew water views for more modest price tags.
Want to develop your property? Lake Texoma has plots of land with incredible potential. Or, if you’d rather have something ready to rent out, you can find a pre-built structure. There are also plenty of vacation rentals if you’d like to “try before you buy.”
2. Interest in Lake Texoma Property Is Growing
Lakefront homes have always embodied the American dream — peaceful retreats loved ones can enjoy for generations. Now, since the pandemic reinforced the importance of comfort at home, the demand for lakefront properties is even higher. And it shows no sign of slowing down.
Lake Texoma real estate is in exceptionally high demand, thanks to the area’s prime, best-of-both-worlds location. Texoma is only about an hour’s drive from the Dallas-Fort Worth area, making it the perfect vacation destination or home base for commuters. But with its peaceful waters and calming scenery, it feels worlds away from the bustling city.
Market conditions constantly change, influenced by supply and demand, tourism numbers, and the local economy. Lake Texoma attracts 6 million visitors annually, and property on its thousand miles of shoreline is particularly desirable. There were more than 250 homes for sale on the Oklahoma side of Lake Texoma last year. This year’s number is up by 170.
3. You’ll Find Affordable Homes for Sale on Lake Texoma, Oklahoma Side
Don’t believe the rumors that lakefront property is unaffordable. Homes for sale on the Oklahoma Side of Lake Texoma are accessible to buyers with many different budgets, thanks to the overall affordability of homes statewide.
As of October 2023, the average home value in Oklahoma is $199,221 — up 3% from the year before. That’s slightly over half the average national home value, recently estimated at just over $348,500.
Bryan County is particularly affordable. The median home value is just $127,800, and the median monthly owner costs are $1,141 with a mortgage or $377 without. According to the U.S. Census Bureau, both numbers are lower than the state median.
Financial value is essential in the current home market. Housing inventory has been hitting historic lows, bottoming out in January 2022 and reaching all-time lows for the fall season in September 2023. What is available has been expensive, with prices hitting an all-time peak in late 2022.
Major cities can be the most competitive markets to crack. If you feel squeezed out of central areas like Oklahoma City or Dallas-Fort Worth, it might be time to consider a lakefront lifestyle.
Waterfront property pays off over time. Research shows lakefront properties sell at a 15% premium over inland equivalents. And you add more than 125% to your home value if you have recreational opportunities and views. Texoma has both in spades.
4. Oklahoma Offers Valuable Tax Rates
Among the pros and cons of living in Oklahoma, tax savings tip the balance far into the “pros” column. Bordering Lake Texoma on the Oklahoma side is Bryan County, which has one of the lowest median property tax rates nationwide. Homeowners pay around 0.64% of their home’s assessed market value, which typically accounts for about 1.3% of the owner’s annual income.
Eligible Oklahoma homeowners can also take advantage of additional tax exemptions, including the property valuation limitation and additional homestead exemption for aging adults. Property tax rules can vary by year and location, so always see a tax professional before making any tax-based decisions.
5. Lakefront Property Comes with Regulations
If you own waterfront property on Lake Texoma, your land will likely begin 30 feet from the shoreline. The U.S. Army Corps of Engineers owns the Lake Texoma waterfront and any beaches up to the private property line.
The Corps prohibits construction on its land, but you can acquire permits to build a dock or modify the natural vegetation on your property.
Vegetation Modification
Lake Texoma has a Shoreline Management Plan that governs everything to do with lakefront vegetation. Before you mow, cut, or trim anything beyond your private property line, you must agree to preset Permit Conditions, which include:
- Mowing and trimming are only allowed up to 30 feet into government property
- Footpaths must be 6 feet or less in width and take a winding route to prevent erosion
- No removal of trees above 2 inches in diameter, limbs above 1 inch in diameter, or flowering trees
- Pesticides or herbicides are prohibited
Before the Corps issues your permit, a Lake Manager must confirm that your plans won’t “adversely affect the environment or physical characteristics (including water quality.)”
Dock Permits
The U.S. Army Corps of Engineers in Texoma allows for a limited number of docks adjacent to privately owned land. The Shoreline Management Plan includes detailed rules about the location, type, and construction of new dock builds.
Due to these regulations, properties with existing docks are in high demand.
6. Local Regulations and Zoning
Lake Texoma shoreline touches four Oklahoma counties and two Texas counties. Building regulations and zoning laws vary by state, county, and town, so it’s essential to understand the rules of where you want to buy.
This step is crucial if you’re looking to build. In Grayson County, Texas, all new construction within a floodplain must be two feet above the floodplain at its lowest point. Structures such as garages or sheds are prohibited unless they’re watertight.
Buyers and builders should consult a knowledgeable real estate expert to ensure their property abides by all regulations.
Learn More About Lake Texoma, Oklahoma Homes for Sale
If you want to learn more about the pros and cons of living in Oklahoma — particularly Lake Texoma real estate for sale — our experienced real estate team is here to help. We know the Oklahoma side of Lake Texoma like our own backyard, and we’re passionate about using that knowledge to help buyers find the right property.
Interested in learning more? Get in touch today or book an appointment.
