Nichols Hills 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.
IndexNichols HillsOklahomaNational
Cost of living index14986100
IndexNichols HillsOklahomaNational
Goods & Services index9293100
Groceries index9097100
Health care index9795100
Housing index28469100
Transportation index8886100
Utilities index9495100
A general overview of the cost of living index for Nichols Hills, OK is displayed above. In Nichols Hills, OK, the overall cost of living index is 149, which is 74% higher than the Oklahoma average and 49% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Nichols Hills, OK, the city's goods and services are 1% lower than the Oklahoma average and 9% lower than the U.S. average.

Did you know?

  • The cost of living in Nichols Hills is 74% higher than the Oklahoma average.
  • The cost of living in Nichols Hills is 49% higher than the national average.
  • The cost of housing in Nichols Hills is 184% higher 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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Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is meant to help you compare your salary in Nichols Hills, OK to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Nichols Hills, OK, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Nichols Hills, OK salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Nichols Hills, OK, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Nichols Hills, OK has a median income of about $182,019 for people who own homes. Based on that number, a person should spend a maximum of $4,247 on expenses related to housing. Renters have a slightly different median income, which is $70,536. Based on this average, renters should spend no more than $1,646 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Oklahoma Sales Tax

StateGeneral Sales TaxWith Max Surtax

Oklahoma Income Tax

StateIncome Tax (Low)Income Tax (High)
One thing to keep in mind when considering the cost of living in Nichols Hills, 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

ItemNichols HillsNational avg.Difference
Haircut $14.75$14.591.1%
Beauty Salon $36.44$34.685.1%
Toothpaste $1.84$2.4725.6%
Shampoo $0.99$1.023.1%
Movie $8.82$9.8710.6%
Bowling $4.07$4.397.3%


ItemNichols HillsNational avg.Difference
Ground Beef $4.55$4.481.6%
Fried Chicken $1.66$1.4613.4%
Milk $2.55$2.368.2%
Potatoes $2.48$3.0619.0%
Pizza $8.99$9.242.7%
Beer $7.98$8.637.6%

Health Care

ItemNichols HillsNational avg.Difference
Optometrist $98.25$99.781.5%
Doctor $83.21$105.0320.8%
Dentist $92.00$88.703.7%
Ibuprofen $9.40$9.410.1%
Lipitor $315.21$298.505.6%


ItemNichols HillsNational avg.Difference
Home Price $637,300.00$175,700.00262.7%
Avg. Mortgage Payment $789.38$1,081.0327.0%
Apartment Rent $938.00$920.002.0%


ItemNichols HillsNational avg.Difference
Gasoline $1.78$2.0915.0%
Tire Balancing $43.00$45.295.0%


ItemNichols HillsNational avg.Difference
All Electricity$153.59$170.8010.1%
Phone $28.01$28.260.9%
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, StatePopulationCost of Living IndexNational Avg.
Valley Brook, OK67775-25%
Smith Village, OK6380-20%
Spencer, OK3,97981-19%
Del City, OK21,75681-19%
Arcadia, OK14585-15%
Nichols Hills, OK3,79714949%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
River Road, NC3,7971011%
Ashland, MO3,79693-7%
Plainwell, MI3,79883-17%
Hallsville, TX3,79997-3%
Spackenkill, NY3,80013939%
Nichols Hills, OK3,79714949%
Source: The Nichols Hills, OK cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.