Everything You Need to Know About Silo Homes for Sale

With a total area of just 0.5 square miles, Silo, Oklahoma, is dwarfed in terms of size and scope compared to the state’s top cities, such as Tulsa, Norman, or Broken Arrow. However, this small urban town in Bryan County offers just as high a quality of life as its more popular counterparts. We invite you to learn more about Silo, Oklahoma, and discover why it deserves to be your next home or investment.

Welcome to Silo, Oklahoma!

The town of Silo, Oklahoma, offers homebuyers the best of both worlds—simple, small town living with the perks of being close to urban areas and proximity to one of the state’s premier outdoor attractions, Lake Texoma.  Silo is located in Bryan County, eight miles northwest of the town of Durant, the state’s 29th largest city. Nestled at the intersection of County Roads E2050 and N3675, the town lies three miles north of U.S. Highway 70 from Kiersey Corner and sits 817 feet above sea level.  Though there are no bodies of water within Silo, it’s about 5.1 miles east of Lake Texoma, an outdoor enthusiast’s paradise.  

The Rich History of Silo, Oklahoma

Silo began as a stagecoach route in the 1800s, with coaches passing through Fort Smith, Arkansas, and the state of Texas. During those early years, the town had an American Indian school, with non-Indian settlers staying at a nearby campground as they searched for ideal lots to build their homes. A post office was erected in 1893, which paved the way for businesses to sprout up, including two grocery stores, a drug store, barber shop, restaurant, dry goods store, blacksmith, harness and boot repair shop, hotel, and wagon yard. While there was no hospital, the town had three doctors who accepted patients in their homes.  At the beginning of the 1900s, Silo had a population of 246. Becoming a town in 1901 encouraged people to set up businesses. Things were going well for a few years until the new railroad tracks completely bypassed the town. Businesses went into decline, and people started leaving. By 1907, the number of dwellers dropped to 180.  Virtually a ghost town for the most part of the last century, Silo saw a revival upon the construction of a consolidated school in 1970. Since then, the population has risen – from 43 residents in 1980, to 249 in 1990, then 282 in 2000, to 490 as of 2021.

Silo, Oklahoma: Economic and Demographic Information

While the U.S. has an average unemployment rate of 3.4% as of February 2023, Silo has a rate of about 5.8%. However, the town’s job market rose by 2.8% in 2021, according to some reports. Future job growth over the next decade is estimated at 56.7%. The cost of living index is reported as 80.5 (low, U.S. average is 100).  That said, some reports indicate the tax rates for Silo are a few points higher than the US average, with the sales tax rate at 9.4% (U.S.: 7.3%) and the income tax rate at 5% (U.S.: 4.6%) 

Income average

Silo residents earn an average of $29,280 a year, lower than the US average of $58,129 and the Oklahoma average of $52,341. The median household income is also comparatively lower at $59,556, compared to the national average of $70,784 in 2021. 

Population

With a population of 490 as of 2021, Silo residents have a median age of 39.6 years. There are 2.6 people in each household, and around 66% of the population is married, according to Census reports. 

Schools

There are three public schools in Silo – Silo Elementary, Silo Junior High, and Silo High. The teacher to student ratio is 15:1. As for nearby schools, there are the Robert E. Lee Elementary School (Durant, OK, 6.2 miles away), Washington Irving Elementary School (Durant, OK, 6.2 miles away), and Booker T. Washington High School (Tulsa, OK, 17.6 miles away).  Colleges closest to Silo are Southeastern Oklahoma State University (Durant, OK, 6 miles), and Murray State College (Tishomingo, OK, 17.1 miles). 

Amenities 

Businesses in Silo provide the basic goods and services one can expect in a small town, such as grocery stores, dining establishments, and even health and fitness facilities. Some of the more popular business establishments in the area include IronFed Fitness, Hands of Hope Therapeutic Massage, Crossroads Country Store, and The Rebel Station convenience store, to name a few. 

Attractions

One of Silo’s more popular facets is its hometown high school baseball team, the Silo Rebels. The team has its own diamond on Houston St., where the players compete with visiting high school baseball squads on the national level.  Aside from baseball, the Silo public school system also has varsity teams for basketball, soccer, and wrestling. 

Silo Real Estate Market Trends

According to Zillow, median home cost in Silo was $192,925, up 7.9 % over the past year. Homes in the area have appreciated by 9.3% in the last decade. At just 0.5 square miles and a very low population, Silo homes for sale number around three to five at a given time. Silo is located in Bryan County, OK. In January 2023, the median listing home price in Bryan County was $253.3K and has been trending up 10.2% year-over-year, according to realtor.com. Bryan County’s real estate market is described as balanced, with the demand for homes in the area coinciding with the supply. On average, it takes only 57 days for a home for sale in Bryan County to find a buyer. The median days that Bryan County homes for sale stay on the market have been trending downward for the past year. As the market gains traction, Silo homes for sale are expected to stay on the market for even shorter periods. 

Why Homebuyers Choose Silo, Oklahoma

For those who have grown weary of the stresses of urban life, moving into a home in Silo, Oklahoma, can be the perfect antidote. Life in this rural town is laidback, peaceful, and far from the hustle and bustle of the big city and close to the outdoor recreation at Lake Texoma. In Silo’s tranquil setting, you can live the simple life you’ve always longed for, with all the flexibility, freedom, and high quality of life that homes for sale in Silo, OK, promise. Should you miss a few urban perks, the city of Durant is only a 14-minute drive away. 

Why Real Estate Investors Choose Homes for Sale in Silo, OK 

With real estate properties selling faster and median prices rising, Silo is a community with plenty of growth potential. Yet compared to sky-high property prices in urban areas, homes for sale in Silo, OK, cost significantly less. If you invest now, you can snap up properties more affordably than if you buy them a few years from now.  Even better, you get to choose homes in prime and highly accessible locations near Lake Texoma, potentially making them the envy of other investors down the line. Given that Silo’s population density is nowhere near what you find in cities, you’ll have ample choices. As an investment, Silo homes for sale may be a slow burn, but not for long. With a healthy real estate market dominating the U.S., rural properties are expected to benefit from current trends. Maximize your earning potential by investing in very affordable rural property now and then selling at a much higher price sooner than you expect. 

Houses for Sale in Silo, OK: 6 Top Tips for Buyers

Silo homes for sale are mostly single-family houses. The rural life may not be for all, but if you want to live in tranquility or if you’re investing for the future, it’s important to reflect on a few crucial factors:

1. Know your purpose for buying homes for sale in Silo, OK

Homes in rural areas, such as those in Silo, typically have fewer building restrictions compared to urban and suburban properties. Even so, it would be best to consult the local building authority to know what you can do with the property you choose to buy. As for how you plan to use the property, here are some questions to ask yourself: 

• What is your ideal location? Do you want to be located near the road, a wooded area, farm, etc.? 
• How large should the parcel of land be? 
• What are your plans for the property for both the short and long term? 
• Do you plan to use the home as your primary residence or a vacation home? If the latter, will you be willing to rent the property out when you’re not staying there? 
• What features should your property have? A pond? Swimming pool? Good soil for gardening, perhaps? 

• Making a list of your intended purposes for your property will help you choose the right Silo real estate for your needs. 

2. What types of insurance will you need?

Aside from a standard homeowner’s insurance policy, you may need additional coverage, such as property insurance for other assets such as barns and tractors. Your purposes for your property will help you identify which policies will keep you protected.

3. Get to know the community of Silo, Oklahoma

You must familiarize yourself with the surrounding area before you sign the dotted line on a home for sale in Silo, OK. Get to know some of the people, how far the property is from basic facilities (grocery store, market, hospital, school, fire, and police stations, etc.), and review available utilities (electricity, water, gas, etc.) 

4. Do your due diligence when evaluating Silo houses for sale

When you find the ideal property, make sure that your contract specifies everything that’s included in the sale, such as buildings, structures, and features of the lot. Also, check if the previous owner has any existing contracts that allow or restrict institutions and/or individuals from accessing the land, whether to farm, graze, camp on, etc. If the previous owner decides to leave certain assets on the property, such as farm equipment, gates, fences, sheds, etc., you’ll want to make sure these items are listed in the contract. 

5. Understand the cost of upkeep

The bigger the parcel of land, the more it will cost to maintain the property. For instance, you may need to buy a power lawn mower to cut the grass quickly and efficiently. If you’re thinking of raising livestock or planting crops, you may need to hire an extra pair of hands for tasks such as cleaning waste, feeding, weeding, watering plants, soil aeration, fertilizing, and the like. Consider all your potential expenses and decide if you can handle all the maintenance responsibilities in the foreseeable future.  6. Hire an agent that understands the Silo real estate market Working with an experienced Silo, OK real estate agent who knows the community will be extremely helpful as you move forward with your decision to shop for Silo homes for sale. There’s a world of difference between buying a rural home and an urban or suburban one, and if you’re a first-time buyer, it’s likely that you won’t know all the steps you have to take to make the most of your home purchase. 

6 Reasons to Hire a Silo Real Estate Agent

With all the real estate tips and guides readily available online, you might wonder why you need to hire a Silo, OK real estate agent in the first place. Here are reasons why it’s worth having a true real estate professional working for you throughout the process. 

1. You will be represented by an expert who understands Silo homes for sale

The home buying process can be stressful, and there are plenty of potentially huge mistakes that can happen along the way. Professional agents can remove the emotional aspects of home buying and remain objective throughout the transaction. You will be represented in the best light, boosting your chances of buying a home with as few hitches as possible. 

2. You can focus on other things than the homebuying process

With so many other aspects requiring your attention – work, family, and life in general – working with a Silo real estate agent can help ease your burden. Volumes of paperwork – letter of intent, reservation letter, letter of guarantee, contract to sell, deed of absolute sale, and certification title – need to be completed before a home can be truly yours. One little mistake or omission could delay or even block your purchase altogether. A real estate agent can handle all the paperwork for you, so you won’t have to worry about a thing. 

3. You will have access to reliable network of local professionals

Real estate transactions require you to work with a lot of professionals, including home inspectors, building authorities, and repairmen, to name a few. Established agents already have a network of allied professionals with a solid reputation in their respective businesses. Partnering with an agent gives you access to reputable providers, removing the need to look for them yourself. 

4. You’ll benefit from in-depth Silo real estate knowledge

Local agents possess comprehensive knowledge of the Silo, Oklahoma, community, including more information about the neighborhood you want to buy in and other data relating to quality of life. You will also be made aware of local market trends that could dictate whether you should buy a home now or later. Likewise, specific info on the house you’re planning to buy, such as length of time on the market, original price, property history, will be available to you. 

5. Your real estate questions will be answered

It’s only natural for a homebuyer to have plenty of questions about homes for sale in Silo, OK. And as they say, the only stupid question is the one you never ask. Some of the most pertinent real estate questions to ask yourself when buying a home include: 

• Can I afford this home? 
• How old is the home? 

• What is the risk of a natural disaster? 
• Does it meet current health and safety standards? 
• Why is the seller’s reason for selling? 
• What is the neighborhood like? 

A trusted Silo real estate agent can make sure you get answers to these and other important questions before you reach out to the seller and express your interest.

6. You will have long-term real estate assistance

Good agents extend their services beyond the real estate transaction because they understand that complications can still happen after closing. From taxes to insurance and other issues related to home ownership, one call to your agent and you’ll have your real estate concerns addressed. Good agents are always ready to assist throughout your home ownership and will also be there for you once you decide to sell off your property.

Get Help Purchasing Silo Houses for Sale 

Are you interested in snapping up a property in Silo, Oklahoma? Whether you’re looking for your dream home or investment property, we at American Dream Realty will be on your side every step of the way. Call us today at 580.931.8888 or leave us a note here to start your journey.