The Village 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.
IndexThe VillageOklahomaNational
Cost of living index8686100
IndexThe VillageOklahomaNational
Goods & Services index9293100
Groceries index9097100
Health care index9795100
Housing index7569100
Transportation index8886100
Utilities index9495100
Displayed above is a general overview of the The Village, OK cost of living index. The overall cost of living index in The Village, OK is 86, which is 1% higher than the Oklahoma average and 14% 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 The Village, OK are 1% lower than the Oklahoma average and 9% lower than the national average.

Did you know?

  • The cost of living in The Village is 1% higher than the Oklahoma average.
  • The cost of living in The Village is 14% lower than the national average.
  • The cost of housing in The Village is 25% 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.

Find Real Estate Listings In The Village

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In The Village

Compare The Village, OK Cost of living To Other Cities

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
Use the salary calculator to compare your current income in The Village, OK to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of The Village, OK, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the The Village, OK salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$58,259$4,855$1,359$1,748
Renters$37,654$3,138$879$1,130
The affordability of the housing market in The Village, 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 The Village, OK homeowners, the median income is $58,259. This indicates that a monthly maximum of $1,359 should be spent by homeowners on all housing related costs. Renters have a median income of $37,654. This indicates that renters should have a maximum of $879 used for their rent related monthly costs.

Oklahoma Sales Tax

StateGeneral Sales TaxWith Max Surtax
Oklahoma4.5%11%

Oklahoma Income Tax

StateIncome Tax (Low)Income Tax (High)
Oklahoma0.5%5.25%
When assessing the complete cost of living in The Village, OK, the Oklahoma income tax and the Oklahoma sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Oklahoma maximum surtax is 11%, and the Oklahoma sales tax is 4.5%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0.5% to 5.25% in Oklahoma.

Goods & Services

ItemThe VillageNational 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%

Groceries

ItemThe VillageNational 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

ItemThe VillageNational 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%

Housing

ItemThe VillageNational avg.Difference
Home Price $112,200.00$175,700.0036.1%
Avg. Mortgage Payment $789.38$1,081.0327.0%
Apartment Rent $929.00$920.001.0%

Transportation

ItemThe VillageNational avg.Difference
Gasoline $1.78$2.0915.0%
Tire Balancing $43.00$45.295.0%

Utilities

ItemThe VillageNational 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%
The Village, OK9,14786-14%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Shelby, OH9,14980-20%
Milton, FL9,14990-10%
Covington, LA9,1511011%
Frankfort Square, IL9,1431077%
Louisville, OH9,15192-8%
The Village, OK9,14786-14%
Source: The The Village, OK cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.