Broken Bow cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexBroken BowOklahomaNational
Cost of living index8586100
IndexBroken BowOklahomaNational
Goods & Services index11493100
Groceries index9297100
Health care index8695100
Housing index4769100
Transportation index8986100
Utilities index9695100
Displayed above is a general overview of the Broken Bow, OK cost of living index. The overall cost of living index in Broken Bow, OK is 85, which is 1% lower than the Oklahoma average and 15% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Broken Bow, OK are 22% higher than the Oklahoma average and 14% higher than the national average.

Did you know?

  • The cost of living in Broken Bow is 1% lower than the Oklahoma average.
  • The cost of living in Broken Bow is 15% lower than the national average.
  • The cost of housing in Broken Bow is 53% lower than the national average.
  • Oklahoma general sales tax is 12% lower than the national average.
  • Oklahoma state income tax is 78% lower than the national average.

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Compare Broken Bow, OK Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Broken Bow, OK to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Broken Bow, OK, you have to earn a higher income in order to still have the same standard of living. To operate the Broken Bow, OK salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$36,389$3,032$849$1,092
Renters$24,727$2,061$577$742
One can approximate the cost of living and the housing affordability in Broken Bow, OK by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Broken Bow, OK have a median income of $36,389. Therefore, the amount that a consumer should spend on housing costs should be no more than $849 per month to avoid calamity and poverty. The renters in the city have an income of about $24,727, which would make their monthly maximum allowable rental costs $577.

Oklahoma Sales Tax

StateGeneral Sales TaxWith Max Surtax
Oklahoma4.5%11%

Oklahoma Income Tax

StateIncome Tax (Low)Income Tax (High)
Oklahoma0.5%5.25%
One thing to keep in mind when considering the cost of living in Broken Bow, OK is the Oklahoma sales tax and Oklahoma income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Oklahoma sales tax rate is 4.5% and the maximum surtax that can be charged is 11%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Oklahoma income tax rates range from 0.5% to 5.25%.

Goods & Services

ItemBroken BowNational avg.Difference
Haircut $10.33$14.5929.2%
Beauty Salon $35.00$34.680.9%
Toothpaste $2.07$2.4716.3%
Shampoo $0.90$1.0211.9%
Movie $8.75$9.8711.3%
Bowling $3.86$4.3912.1%

Groceries

ItemBroken BowNational avg.Difference
Ground Beef $4.63$4.483.4%
Fried Chicken $1.41$1.463.7%
Milk $2.64$2.3612.0%
Potatoes $2.61$3.0614.7%
Pizza $10.16$9.249.9%
Beer $8.72$8.631.0%

Health Care

ItemBroken BowNational avg.Difference
Optometrist $59.33$99.7840.5%
Doctor $98.00$105.036.7%
Dentist $69.50$88.7021.6%
Ibuprofen $7.67$9.4118.5%
Lipitor $291.75$298.502.3%

Housing

ItemBroken BowNational avg.Difference
Home Price $71,600.00$175,700.0059.2%
Avg. Mortgage Payment $826.57$1,081.0323.5%
Apartment Rent $557.00$920.0039.5%

Transportation

ItemBroken BowNational avg.Difference
Gasoline $1.84$2.0911.8%
Tire Balancing $42.00$45.297.3%

Utilities

ItemBroken BowNational avg.Difference
All Electricity$143.40$170.8016.0%
Phone $32.01$28.2613.3%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Haworth, OK26180-20%
Garvin, OK19784-16%
Eagletown, OK66484-16%
Idabel, OK7,01586-14%
Broken Bow, OK4,14185-15%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Farmington, ME4,1421066%
Bellville, TX4,14291-9%
Forest City, IA4,14281-19%
Buckingham, FL4,1421066%
Beach Haven West, NJ4,14014242%
Broken Bow, OK4,14185-15%
Source: The Broken Bow, OK cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.