Oklahoma City Cost of Living

What living in Oklahoma City costs

Oklahoma City runs at 0.89x the US national average — 91 of the 99 other metros tracked here cost more, 6 cost less. A one-bedroom goes for about $850 a month, or $10,200 a year, and the median home sits near $230,000.

The price-to-rent ratio here is roughly 23, which is high. Above about 20, renting and investing the down payment usually beats buying over a normal holding period — the purchase price is steep relative to what the same property earns as a rental.

Working and living here

Oklahoma City is a metro of roughly 1.5M and growing steadily, running on energy (oil & gas), aviation/aerospace, government. Larger employers include Tinker Air Force Base, Devon Energy (HQ), Integris Health.

Oklahoma taxes income at the state level, and Oklahoma City adds no separate city tax. Cost-of-living indexes exclude income tax entirely, so compare after-tax figures rather than index ratios when weighing this metro against one in a no-income-tax state.

Getting around: Oklahoma City is effectively car-dependent. Budget for a car — around $9,000 a year all-in once insurance, fuel, maintenance and parking are counted, a cost the index assumes but does not itemise.

Climate: Continental climate with sharp swings: January lows near 28°F, July highs near 94°F.

Sits within Tornado Alley, with tornado watches and warnings a near-annual occurrence each spring; housing costs remain well below the national median for a metro this size.