Payne County

Oklahoma · Stillwater, OK micropolitan area · 83,889 residents (2025 est.)

FHFA annual index 1976–2025Developmental county indexPermits through August 2026

Payne County (100 = first year)United States, rebased to the same startNBER recession

FHFA notes: The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. FHFA describes its county indexes as developmental and subject to revision. The index does not give a dollar value for any home.

Payne County, Oklahoma (Stillwater, OK area), has an FHFA house price index from 1976. Through 2025 it has risen +529.8%, from 100 to 630.

Over the ten years to 2025 the index rose +71.4% (+5.5% a year), close to Oklahoma at +71.1% and below the national +85.0%. The Stillwater, OK area rose +71.4%. The latest one-year change is +5.7%.

The strongest decade was the 1990s (+42.9%); the weakest the 1980s (+0.6%).

Builders were authorised for 174 housing units in the county in the 12 months to August 2026 (−14.7% on the previous 12 months), 2.1 units per 1,000 residents; 79% were single-family houses. Since 1995 the county has authorised 8,332 units, most in 2004.

+5.7%1 year, 2024–2025Oklahoma +2.6%

+46.6%5 yearsUS +47.0%

+71.4%10 years+5.5% a year annualised

+145.6%since 2000US +158.3%

174units permitted, 12 months2.1 per 1,000 residents

Same span, four levels

Change in the FHFA index	Payne County	Stillwater area	Oklahoma	United States
1 year (2024–2025)	+5.7%	+5.7%	+2.6%	+2.8%
5 years (2020–2025)	+46.6%	+46.6%	+45.7%	+47.0%
10 years (2015–2025)	+71.4%	+71.4%	+71.1%	+85.0%
20 years (2005–2025)	+103.6%	+103.6%	+102.5%	+79.1%
Since 2000	+145.6%	+145.6%	+146.7%	+158.3%
Since 1976	+529.8%	+529.8%	+495.1%	+880.8%
10-year annualised	+5.5%	+5.5%	+5.5%	+6.3%
20-year annualised	+3.6%	+3.6%	+3.6%	+3.0%

All columns are FHFA annual all-transactions indexes over the same years.

Decade by decade

Decade	Change	United States
1980s (1980–1990)	+0.6%	+68.2%
1990s (1990–2000)	+42.9%	+33.9%
2000s (2000–2010)	+31.0%	+29.7%
2010s (2010–2020)	+27.9%	+35.5%
2020s so far (2020–2025)	+46.6%	+47.0%

FHFA reports each index with a value of 100 in its base period, the first year the area has enough transactions (1976 here). A decade's change is the index at the end of the decade divided by the index at the start, so it does not depend on the base year; the United States column covers the same years. Decades before 1976 are not shown.

Peak-to-low declines

Peak	Low	Decline	Peak regained
1984	1989	−14.1%	1995
1980	1981	−9.3%	1983

Building permits

Housing units authorised by building permits in Payne County, by month over the latest five years and by year since 1995.

Housing units authorised in Payne County by month, latest 12 monthssingle-family2+ unit buildings

Housing units authorised in Payne County by month, latest 60 monthssingle-family2+ unit buildings

Housing units authorised in Payne County by year, 1995–2025single-family2+ unit buildings

Permits, 12 months to August 2026	Payne County	Oklahoma	United States
Housing units authorised	174	14,702	1,418,086
Units per 1,000 residents	2.1	3.6	4.1
Single-family share	79%	74%	63%
Change on previous 12 months	−14.7%	+1.3%	−0.1%
Units authorised since 1995	8,332	396,106	43,082,761

Population is the Census Bureau's vintage 2025 estimate. Permits authorise construction; they are not completions.

ZIP codes in Payne County

Ranked by ten-year change in the FHFA ZIP index. Where a ZIP's index ends before 2025, its spans end in that year.

ZIP	1 year	10 years	Since 2000	Index through	Years
74059	+6.8%	+80.4%	—	2025	25
74074	+6.6%	+71.7%	+148.1%	2025	49
74075	+8.3%	+67.5%	+136.3%	2025	49
74023	−2.6%	+67.2%	+139.9%	2025	28

Cities and permit-issuing places in Payne County

Housing units authorised in the 12 months to August 2026; places with at least 12 units in the year, or in the year before.

Place	Units, 12 months	Per 1,000 residents	Single-family
Stillwater	167	3.3	78%
Cushing	5	0.6	100%

Questions and answers

How much have home values in Payne County risen over 10 years?

The FHFA index for Payne County rose +71.4% from 2015 to 2025, about +5.5% a year. Over 20 years: +103.6%; since 2000: +145.6%.

How does Payne County compare with Oklahoma and the United States?

Over the ten years to 2025: Payne County +71.4%, Oklahoma +71.1%, United States +85.0%, Stillwater, OK +71.4%.

What happened to Payne County prices in 2008?

The county index shows no decline of 5% or more from a 2005–2008 peak. The Oklahoma index fell — over —–—.

How many homes are being built in Payne County?

174 housing units were authorised by building permits in the 12 months to August 2026 (138 single-family, 11 in buildings of five or more units), or 2.1 per 1,000 residents against 3.6 for Oklahoma.

Where does this data come from?

The index is FHFA's annual county house price index (all-transactions, developmental), last updated March 31, 2026, with values through 2025. Permits are from the Census Bureau Building Permits Survey through August 2026; population is the Census Bureau's vintage 2025 estimate.

Provenance

Index: Federal Housing Finance Agency, annual house price index for counties (all-transactions, developmental), last updated March 31, 2026, values 1976–2025; metro, state and national comparisons from FHFA's annual indexes in the same release. Permits: Census Bureau Building Permits Survey, county and place files, through August 2026. Population: Census Bureau vintage 2025 estimates. ZIP assignment: 2020 ZCTA-to-county relationship file. Public domain throughout. Corrections · FHFA HPI datasets · Building Permits Survey.