Cost Of Living in Elk City, OK

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8%

Overall NAT. AVG.

4%

Groceries NAT. AVG.

13%

Housing NAT. AVG.

Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.

The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index	Elk City	Oklahoma	National
Cost of living	92	88	100
Groceries	97	96	100
Health care	93	95	100
Housing	87	70	100
Transportation	98	96	100
Utilities	91	96	100
Lifestyle & Entertainment	95	94	100
Household Items	94	97	100
Education & Childcare	93	93	100

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Homes For Sale In Elk City, OK

321 Peggy Dr

Elk City, OK

1400 W D Ave

Elk City, OK

1014 W E Ave

Elk City, OK

3621 S Highway 6

Elk City, OK

An Overview of Cost of Living in Elk City, OK

Getting a feel for the cost of living in Elk City is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Elk City is 92, which is 8% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

The cost of living in Elk City closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, houshold expenses, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Elk City can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

Is Elk City Affordable?

Is Elk City affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Elk City, the median home price is 11.8% lower than the national average and monthly rent prices are 17.2% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Elk City boasting a median household income of $65,247, 19.8% lower than the national average.

What Factors can Influence the Cost of Living in Elk City?

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Elk City, healthcare costs are 7.5% lower than the national average.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Elk City, the housing index comes in at 13.4% lower than the national average.

Where is the Data From?

The Elk City cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional city-to-city comparisons.

Cost Of Living Quick Facts

The cost of living in Elk City is 5% higher than the Oklahoma average
The cost of living in Elk City is 8% lower than the national average
Elk City housing is 13% lower than the national average
Oklahoma general sales tax is 12% lower than the national average
Oklahoma state income tax is 90% lower than the national average

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Price difference in compared to

Cost of living index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Lifestyle index
Household index
Educare index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$83,233	$6,936	$1,942	$2,497
Renters	$47,648	$3,971	$1,112	$1,430

To approximate the cost of living and the housing affordability in Elk City, OK, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Elk City have a median income of $83,233. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,942 per month to avoid calamity and poverty. The renters in the city have an income of about $47,648, which would make their monthly maximum allowable rental costs $1,112.

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	0.25%	4.75%

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Butler CDP, OK	148	95	5.3%
Foss, OK	169	95	5.3%
Dill City, OK	337	76	24.0%
Sayre, OK	4,603	80	20.3%
Hammon, OK	515	82	18.4%
Elk City, OK	11,999	92	7.7%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
View Park-Windsor Hills, CA	12,000	193	92.5%
Shiloh, OH	11,996	85	14.9%
Tomball, TX	11,992	101	1.0%
Norwich, ON	12,006	n/a
Wetaskiwin County No. 10, AB	11,985	n/a
Elk City, OK	11,999	92	7.7%

Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.