If you’re looking to get the most bang for your buck, Oklahoma City offers an ideal combination of high incomes along with an affordable cost of living. But it’s not just about the numbers – OKC has everything from great schools to trendy restaurants. So even if you take finances out of the equation, you can bet this prairie city is a place you’ll love to live.
Cost of Living: The numbers breakdown
If you’re looking to crunch the numbers, there’s plenty of data to help you out. According to the C2ER annual cost of living index, Oklahoma City ranks as the #1 lowest cost among large cities in the United States. And if you dig a little deeper, you’ll see why. According to CNBC, the average annual income in OKC is over $72,000 while the annual cost of necessities is about $19,000, leaving over $50,000 available for investing, travel, and fun.
The average Oklahoma City homeowner pays just 16% of their income in housing costs, one of the lowest percentages in the nation. Home prices are exceptionally affordable in OKC and fortunately; secondary home costs in the area are also reasonable.
A recent roundup by Angie’s List puts monthly maintenance costs (e.g. landscaping) for a home in Oklahoma City at about $25/month. Compared to $42/month in Los Angeles, that can be a significant savings. And when you factor in property taxes, it’s not even close. The average is just over $100/month for a home in OKC compared to $643/month in the Northern New Jersey suburbs. Just think about what you can do with an extra $3,000+ a year!
When you look beyond housing costs, Oklahoma also brings in significant savings. Groceries often make up a huge part of a person’s budget, so you’ll want to pay attention to the average cost of your shopping cart. On average, Oklahomans spend between $2,400-2,800 annually on food. Compared to the $4,000+/year that New Englanders, Hawaiians, and Alaskans spend, that’s a big difference.
Convinced that living in OKC is good for your budget? Great. Now it’s time for the fun part – all the reasons why you’ll want to live there!
6 Reasons Why Quality of Life is Tops in OKC
From abundant job opportunities to a vibrant arts and entertainment scene, Oklahoma City is one of the country’s most up and coming metro areas. Here are six reasons why it should be on your list.
A booming economy.It won’t be hard to find work in the Sooner State. From oil to aviation, there are plenty of local industries in Oklahoma and OKC has recently become a hub for a number of healthcare and retail companies. Now that many Americans are working remotely due to coronavirus, it’s possible to stay with your current employer while also getting more land and space for your money.
Big city amenities, small town feel. There’s a saying that calls OKC “the biggest small town you’ll ever see,” and it’s not hard to understand why. It has a great blend of southern hospitality and midwestern friendliness along with all the amenities of a big city. Spend your free time visiting great breweries, cheering on the pro basketball team, or visiting world-class museums.
Housing options are plentiful. Thanks to a downtown revitalization project that launched in 2004, more businesses and families moved to the area, making it a vibrant choice for many new residents. And if you’re looking for a bit more space, OKC still has large swaths of developable land. Housing inventory isn’t likely to be an issue!
If you choose the OKC area, you can live in the suburb of Edmond (with its top rated schools) and be downtown in 20 minutes. If you choose to live in the city center, you can enjoy walkability to restaurants, schools, and more.
There are a variety of reasons why moving to Oklahoma City is an excellent choice. From lower cost of living to its multitude of job opportunities, high quality school districts, and fun activities, the area has plenty to offer for anyone looking for an ideal place to live. And if you’re considering a move to the area, talk to one of our community managers and let us help you find a home that suits your needs.