Velma, Oklahoma.
Typical home $168,716 (+6.5% in a year). Duncan, OK metro.
to buy the typical home at today's mortgage rate — +$487 (+122%) since Jan 2020.
- 1 year
- Up $10,237 +6%
- $158,478$168,716 since Sep 2025
- 5 years
- Up $39,225 +30%
- $129,491$168,716 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Velma$886
- Oklahoma$1,159
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 13 years.
Typical home values in Velma, OK rose 6.5% over the past year — faster than the nation's +1.2%.
Living in Velma, Stephens County, Oklahoma
Velma is a town of 554 people in Stephens County. 74% of its homes are lived in by their owners and 26% are rented. Unemployment in Stephens County was 4.5% in August 2026, and the county had 2.2% fewer jobs in 2025 than the year before. The most people in Stephens County work in schools and health care, then shops.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Velma is a very small town in Stephens County, Oklahoma, where most homes are lived in by their owners. Poverty is more common here than in much of the country, and few adults hold a four-year degree. Homes are modestly priced, and few people work from home.
Work. Residents work mainly in schools, hospitals and social care, in shops, in farming, forestry and mining, and in manufacturing. Across Stephens County, the largest workplaces include Duncan Regional Hospital, Duncan Schools and Walmart. Unemployment in the county has risen compared with a year ago, and the county has fewer jobs than it did the year before.
Things to do. Turner Falls is the best known place nearby, a waterfall a longer drive away. Fuqua Lake and Clear Creek Lake are reservoirs, also a longer drive away. Winters are cool and summers turn hot, so the lakes are a natural draw in the warmer months.
Report a mistake
- 8%of adults have a degree
- 23%below the poverty line
- 3%work from home
What people in Stephens County work in
Employed residents by industry, from the Census survey. Stephens County had 14,725 jobs in 2025, 2.2% fewer than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 52° and lows near 30°; warmest in August, with highs near 95° and lows near 71°.
Average daily high and low, 1991–2020, at the Velma 7NW Mesonet weather station, 8 miles away (NOAA).
Largest workplaces in Stephens County
- Duncan Regional HospitalGeneral medical and surgical hospitals912
- Elara CaringHome health care agencies635
- Duncan SchoolsSchool district468FTE
- WalmartWarehouse clubs and supercenters407
- Family Dollar, LLC DC204General warehousing and storage343
- HalliburtonTesting laboratories316
- Marlow SchoolsSchool district176FTE
- wilkins health and rehabilitation communityNursing homes159
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 25 workplaces with 20 or more staff, 3,612 people in all across the county; Velma has none of its own. School districts come from the Common Core of Data (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Ice stormsRelatively high
- HailRelatively high
- Strong windRelatively high
- TornadoesRelatively high
- WildfireRelatively moderate
- DroughtRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Velma’s census tracts, against the rest of the country; all of them together, relatively low. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Stephens County and the Duncan, OK metro.
Velma home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Velma$168,716
- Oklahoma$220,801
- United States$366,157
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Velma7
Zip codes with a Velma address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Velma — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.
Zillow publishes no zip-level series with this city on the address.