| Index | Woodward | Oklahoma | National |
| Cost of living | 90 | 88 | 100 |
| Groceries | 96 | 96 | 100 |
| Health care | 98 | 95 | 100 |
| Housing | 75 | 70 | 100 |
| Transportation | 95 | 96 | 100 |
| Utilities | 94 | 96 | 100 |
| Lifestyle & Entertainment | 95 | 94 | 100 |
| Household Items | 97 | 97 | 100 |
| Education & Childcare | 97 | 93 | 100 |
The cost of living in Woodward affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Woodward is 90, which is 10% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
The most insightful perspective on a city comes from its residents. We recently surveyed 7 locals to gauge their perception of the cost of living in Woodward. The feedback revealed that 43% of respondents found the cost of living to be reasonable, with prices on the decline, while 57% regarded it as notably expensive with prices that continue to rise.
Is Woodward 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 Woodward, the median home price is 28.6% lower than the national average and monthly rent prices are 17.9% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Woodward boasting a median household income of $73,996, 9% lower than the national average.
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 Woodward, healthcare costs are 1.9% lower than the national average.
Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday household expenses, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Woodward, the standard sales tax rate starts at 4.5%, and the income tax rates commence at 0.25%.
Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.
The cost of living estimates displayed for Woodward are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $94,393 | $7,866 | $2,202 | $2,832 |
| Renters | $58,644 | $4,887 | $1,368 | $1,759 |
| State | General Sales Tax | With Max Surtax |
| Oklahoma | 4.5% | 11% |
| State | Income Tax (Low) | Income Tax (High) |
| Oklahoma | 0.25% | 4.75% |
| City | Population | Cost of Living Index | National Avg. |
| Mutual, OK | 37 | 75 | 25.4% |
| Sharon, OK | 128 | 78 | 22.1% |
| Fort Supply, OK | 381 | 79 | 20.6% |
| Fargo, OK | 324 | 83 | 17.5% |
| Mooreland, OK | 1,182 | 85 | 14.9% |
| Woodward, OK | 12,677 | 90 | 10.4% |
| City | Population | Cost of Living Index | National Avg. |
| West Plains, MO | 12,673 | 84 | 16.2% |
| Derby, CT | 12,684 | 109 | 9.1% |
| Minneola, FL | 12,664 | 118 | 18.0% |
| Beatrice, NE | 12,664 | 87 | 13.0% |
| Belmont, NC | 12,690 | 107 | 7.2% |
| Woodward, OK | 12,677 | 90 | 10.4% |
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