Cost Of Living In Mustang, OK

Mustang 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.
Index	Mustang	Oklahoma	National
Cost of living index	88	86	100
Index	Mustang	Oklahoma	National
Goods & Services index	91	94	100
Groceries index	91	93	100
Health care index	90	93	100
Housing index	84	69	100
Transportation index	82	88	100
Utilities index	90	95	100

The above illustration supplies generalized information for the Mustang, OK cost of living index. Compared to other cities in Oklahoma and cities across the country, the cost of living index in Mustang, OK is 88, which is 2% higher than the Oklahoma average and 12% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Mustang, OK are 3% lower than the average for Oklahoma and 9% lower than the rest of the country.

Did you know?

The cost of living in Mustang is 2% higher than the Oklahoma average.
The cost of living in Mustang is 12% lower than the national average.
The cost of housing in Mustang is 16% 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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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Using the salary calculator lets you compare the salary you earn in Mustang, 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 Mustang, OK, you have to earn a higher income in order to still have the same standard of living. To operate the Mustang, 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 Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$76,526	$6,377	$1,785	$2,296
Renters	$41,758	$3,480	$974	$1,253

The affordability of the housing market in Mustang, OK as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Mustang, OK homeowners, the median income is $76,526. This indicates that a monthly maximum of $1,785 should be spent by homeowners on all housing related costs. Renters have a median income of $41,758. This indicates that renters should have a maximum of $974 used for their rent related monthly costs.

Oklahoma Sales Tax

State	General Sales Tax	With Max Surtax
Oklahoma	4.5%	11%

Oklahoma Income Tax

State	Income Tax (Low)	Income Tax (High)
Oklahoma	0.5%	5.25%

The Oklahoma sales tax and Oklahoma income tax rates should definitely be considered when determining the overall cost of living in Mustang, OK. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Oklahoma sales tax is 4.5% and the maximum surtax is 11%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Oklahoma income tax rates range from 0.5% to 5.25%.

Goods & Services

Item	Mustang	National avg.	Difference
Haircut	$15.61	$15.56	0.3%
Beauty Salon	$34.83	$36.11	3.5%
Toothpaste	$1.61	$2.47	35.0%
Shampoo	$0.95	$0.96	1.2%
Movie	$9.62	$10.13	5.0%
Bowling	$4.32	$4.74	8.8%

Groceries

Item	Mustang	National avg.	Difference
Ground Beef	$3.37	$3.98	15.3%
Fried Chicken	$1.30	$1.41	7.8%
Milk	$2.05	$2.06	0.5%
Potatoes	$2.59	$2.98	13.0%
Pizza	$8.92	$9.47	5.8%
Beer	$7.73	$8.79	12.1%

Health Care

Item	Mustang	National avg.	Difference
Optometrist	$87.19	$101.04	13.7%
Doctor	$83.97	$107.44	21.8%
Dentist	$82.33	$90.42	8.9%
Ibuprofen	$9.25	$9.28	0.3%
Lipitor	$428.09	$426.50	0.4%

Housing

Item	Mustang	National avg.	Difference
Home Price	$134,300.00	$175,700.00	23.6%
Avg. Mortgage Payment	$764.71	$1,133.23	32.5%
Apartment Rent	$926.00	$920.00	0.7%

Transportation

Item	Mustang	National avg.	Difference
Gasoline	$1.58	$1.99	20.5%
Tire Balancing	$40.50	$45.76	11.5%

Utilities

Item	Mustang	National avg.	Difference
All Electricity	$141.91	$163.81	13.4%
Phone	$27.00	$28.39	4.9%

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, State	Population	Cost of Living Index	National Avg.
Valley Brook, OK	677	74	-26%
Pocasset, OK	130	76	-24%
Minco, OK	1,423	80	-20%
El Reno, OK	17,515	80	-20%
Warr Acres, OK	10,268	82	-18%
Mustang, OK	18,575	88	-12%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Prunedale, CA	18,574	146	46%
Ferndale, MD	18,577	114	14%
Morristown, NJ	18,580	138	38%
Gautier, MS	18,581	93	-7%
El Dorado, AR	18,590	85	-15%
Mustang, OK	18,575	88	-12%

Source: The Mustang, OK cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.

Mustang, OK Cost of Living