What is the cost of living in Oklahoma?
The cost of living in Oklahoma is 6.1% lower than the US average. According to MIT, the required living wage for a family of four with two working parents in Oklahoma is $84,290 vs the national average for a family of four with two working parents of $89,744. The median income of a Oklahoma household is $53,840.
The average home price in Oklahoma is $142,400, which is lower than the US average home price of $229,800. Median rent in Oklahoma is $818/mo which is lower than the US average rent of $1,096/mo. If you want to adjust homes prices to local incomes, the ratio of home prices to median household income is about 2.6 to 1. That means it takes roughly 2.6 years of a full salary to pay off a house. That compares to the national average of 3.5 to 1.
All in all, Oklahoma has a low cost of living compared to America as a whole.
People Also Ask About Oklahoma
Is Oklahoma a dangerous state?
Yes, Oklahoma is a dangerous state as it ranks as the #8 most dangerous state in the United States based on our analysis of the latest FBI Crime Data. The violent crime rate in Oklahoma ranks 13th most dangerous in the United States -- 24.01% worse than US average violent crime rate. The property crime rate in the Sooner State ranks sixth most dangerous in the United States -- 38.44% worse than US average property crime rate. The latest reporting year from the FBI was 2022.
Is Oklahoma City, OK a dangerous city?
Yes, Oklahoma City is a dangerous city. Oklahoma City ranks as the #114 most dangerous out of 328 major cities over 100,000 people in the United States based on our analysis of the latest FBI Crime Data. Keep in mind that are always safe and dangerous parts of any city, so even though Oklahoma City might be considered dangerous you still need to be aware of where you are.
Compared to other big cities, the violent crime rate in Oklahoma City ranks 103rd highest in America -- 16.0% worse than US average violent crime rate. The property crime rate in the ranks 107th highest in the United States -- 12.1% worse than US average property crime rate. Note the latest reporting year from the FBI was 2022 and that no city in America is "dangerous". Despite the uptick in murders, it's nothing like you'd see in Tijuana or Caracas where the murder rate is 2x any American city.
What county in Oklahoma has the lowest cost of living?
The county in Oklahoma with the lowest cost of living is Adair County. The average living wage in Adair County is $80,752 according to MIT data. Adair County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to Oklahoma as a whole. Childcare costs $12,035 a year in Adair County for two children compared to the Oklahoma average of $13,808. Housing costs, defined as a blend of the average rent and average mortgage payment, are $8,736 per year in Adair County compared to $10,068 on average in Oklahoma.
What is the cheapest housing market in Oklahoma?
The cheapest housing market in Oklahoma is Holdenville. The average home value in Holdenville is $56,100, the lowest in the state. The average home value in Oklahoma is $142,400, almost 2.5 times higher than Holdenville.