The Village, OK Cost Of Living

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.
Index	The Village	Oklahoma	National
Cost of living index	87	88	100
Index	The Village	Oklahoma	National
Goods & Services index	92	97	100
Groceries index	88	95	100
Health care index	92	95	100
Housing index	77	69	100
Transportation index	95	90	100
Utilities index	85	98	100

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 87, which is 1% lower than the Oklahoma average and 13% 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 5% lower than the Oklahoma average and 8% lower than the national average.

Did you know?

The cost of living in The Village is 1% lower than the Oklahoma average.
The cost of living in The Village is 13% lower than the national average.
The cost of housing in The Village is 23% 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

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 Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$56,144	$4,679	$1,310	$1,684
Renters	$40,436	$3,370	$943	$1,213

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 $56,144. This indicates that a monthly maximum of $1,310 should be spent by homeowners on all housing related costs. Renters have a median income of $40,436. This indicates that renters should have a maximum of $943 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%

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% in Oklahoma.

Goods & Services

Item	The Village	National avg.	Difference
Haircut	$13.18	$16.09	18.1%
Beauty Salon	$31.85	$37.33	14.7%
Toothpaste	$1.98	$2.45	19.2%
Shampoo	$0.88	$1.00	11.7%
Movie	$9.50	$10.28	7.6%
Bowling	$5.49	$4.93	11.3%

Groceries

Item	The Village	National avg.	Difference
Ground Beef	$3.03	$3.80	20.3%
Fried Chicken	$1.17	$1.40	16.5%
Milk	$1.83	$2.01	9.0%
Potatoes	$2.57	$3.01	14.8%
Pizza	$10.33	$9.89	4.5%
Beer	$7.80	$8.90	12.4%

Health Care

Item	The Village	National avg.	Difference
Optometrist	$113.11	$102.16	10.7%
Doctor	$92.73	$108.36	14.4%
Dentist	$82.67	$92.53	10.7%
Ibuprofen	$8.82	$9.28	4.9%
Lipitor	$413.13	$425.82	3.0%

Housing

Item	The Village	National avg.	Difference
Home Price	$119,200.00	$184,700.00	35.5%
Avg. Mortgage Payment	$1,088.08	$1,202.44	9.5%
Apartment Rent	$1,012.00	$949.00	6.6%

Transportation

Item	The Village	National avg.	Difference
Gasoline	$1.93	$2.24	13.9%
Tire Balancing	$53.11	$46.29	14.7%

Utilities

Item	The Village	National avg.	Difference
All Electricity	$154.39	$165.96	7.0%
Phone	$21.55	$28.68	24.9%

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	804	74	-26%
Spencer, OK	4,007	77	-23%
Arcadia, OK	186	80	-20%
Del City, OK	21,962	79	-21%
Smith Village, OK	76	80	-20%
The Village, OK	9,310	87	-13%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Mound, MN	9,306	107	7%
Springfield, FL	9,318	85	-15%
Louisville, OH	9,318	87	-13%
Moncks Corner, SC	9,300	102	2%
Hernando, FL	9,300	87	-13%
The Village, OK	9,310	87	-13%

Source: The The Village, OK cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

The Village, OK Cost of Living