Cost of Living in Oklahoma City, OK 2023

Are you contemplating relocating to Oklahoma City in 2023? Cost of living expenses have a major impact on any and all life decisions, so it's understandable if you're feeling uncertain about what lies ahead.

Fortunately, we’re here to break down the basics of the cost of living in Oklahoma City so that you can confidently make your decision! Read on to learn more about rental costs, property values, local taxes & fees, food costs, and other necessary living expenses in Oklahoma City.

Oklahoma City Housing Costs

As a result of the pandemic, most cities across the country experienced significant drops in rent prices. But, as things reopen once again, we have started to see rent increases, with Oklahoma City being no exception. Thankfully, despite these increases, Oklahoma City’s rent prices fall below the national averages.

According to the latest Rent Report on Oklahoma City, the median rent index is $908 for a one-bedroom apartment and $1,143 for a two-bedroom. The median rent in Oklahoma Cit rose by 0.5% last month with an increase of 7.4% over the psat 12 months. The growth is similar to the state average of 7.4% and outpaced the national average of 3.0%.

Compared to other significant cities in the country, like Indianapolis, Kansas City, or Dallas, Oklahoma City’s rent prices are comparable or still reasonable. For example, Indianapolis’ median rent index is $925 for a one-bedroom apartment and $1,110 for a two-bedroom apartment, while Kansas City's median rent index is $982 for a one-bedroom apartment and $1,142 for a two-bedroom. Not surprisingly, Dallas is even more expensive, with a median rent index of $1,194 for a one-bedroom and $1,427 for a two-bedroom.

The Oklahoma City housing market is also seeing steady growth, with median home prices currently at $312,103. These prices are below competing areas like Kansas City of $378,646.

Oklahoma City Transportation Costs

Oklahoma City’s official public transportation operator is the Central Oklahoma Transportation and Parking Authority (COTPA), which today does business as EMBARK. Through EMBARK, Oklahoma City residents can take advantage of multi-modal transit service throughout the greater Oklahoma City area.

The EMBARK services include:

• 23 route, fixed-route bus service
• OKC Streetcar
• ADA paratransit service
• River ferry transit service
• Spokies bike-share service

Single trip cash bus fares on the EMBARK fixed-route bus service costs $1 to $3 for adults or $0.50 to $1.50 for reduced fare riders, including seniors 65+, Medicare holders, children ages 7-17, and persons with qualifying disabilities. Children six and under will ride for free. For frequent riders, one-day, seven-day, and 30-day unlimited passes are available.

The EMBARK public transportation system in Oklahoma City is highly dependable and likely the most cost-effective method of getting around the city. There are other available options as well, including ride-sharing services like Uber and Lyft. There are also taxis, car rentals, and chauffeur services, but these tend to be the more expensive options.

If you're a single adult without children, you'll spend about $5,477 for transportation in Oklahoma City over a year. A family of four, including two working adults and two children, will pay $14,484 for transportation in one year. Thankfully, gasoline prices are around $3.35 per gallon, much lower than the national average of $3.96.

Oklahoma City Food Costs

Oklahomans love their land and have been lucky enough to reap the benefits of eating food that the land provides. As a result, Oklahoma City offers countless dining options, where you can find the city’s famous chicken-fried steak, fried-onion burgers, barbecue, and Indian tacos.

Thankfully, dining out in Oklahoma City is relatively cheap and will cost an average of $12 for a meal at an inexpensive restaurant. A three-course dinner for two people at a mid-range restaurant will run $52.50 without alcohol or dessert.

You can expect to spend at least $3,926 on food per year for single adults without children. However, if you're a family of four with two working adults and two children, you can expect to pay $11,564 per year for food.

You can anticipate costs similar to the national average for food items purchased from the local Sprouts Farmers Market, WinCo Foods, or Walmart Neighborhood Market. For example, one gallon of regular milk will run you $4.08 in the grocery store, with the national average being $3.87.

Oklahoma City Healthcare Costs

Whether you go to the doctor annually for your checkups or have a medical condition that requires you to see them more regularly, having medical insurance helps keep your costs to a minimum. Additionally, if any emergencies arise in your new hometown, it is nice to know you’ll be able to afford the proper care you’ll need.

Because healthcare is an essential item, you will also want to account for proper medical care when planning your budget in Oklahoma City. A single adult without children will pay around $2,991 for medical care over the year. Two working adults with two children will pay $10,063.

Oklahoma City Utility Costs

The weather in Oklahoma City can be somewhat temperamental. The summer months of May through August bring humid heat and a muggy climate with regular thunderstorms, April through June marks tornado season, and winter December through February, typically brings cold weather and high winds.

The coldest month in Oklahoma City is in January, with an average overnight temperature of 26.2°. Conversely, July is the hottest month of summer, where the average daytime high is typically 93.1°.

To stay warm through the relatively cool winter nights and cool through the hot, muggy summer, you'll need to account for higher utilities. Oklahoma City’s basic utilities include electricity, heating, cooling, water, and garbage, running $287.59 for a 915-sq. ft. apartment. Adding on the Internet with 60 Mbps or more with unlimited data, cable/ADSL will cost you an extra $84.89 for a total of $372.48 each month.

It’s always a good idea to better understand how much utilities will cost in an apartment before you move, as it will allow you to budget accordingly for this sometimes overlooked expense.

Oklahoma City Fitness and Entertainment Costs

Oklahoma City offers fitness and entertainment opportunities for everyone. However, if you like to spend your time in a local gym for workouts, you’ll want to consider club membership costs at VASA Fitness, Evolve Fitness OKC, Colaw Fitness of Oklahoma City Gyms, or any of the others in the area. Thankfully, these costs are relatively low, with the monthly fee for a fitness club membership for one adult costing $30.

Through some of the more temperate months of the year, you can enjoy the beautiful outdoors Oklahoma City has to offer. Enjoy local parks like the Will Rogers Park, the Martin Park Nature Center, or the Scissortail Park. Or, explore outside of Oklahoma City to visit one of the six national parks the state offers.

If you’re looking to escape the heat during the summertime, you can purchase a seat at the local cinema for $13 without snacks or drinks. Otherwise, check out some of the museums in town, like the Oklahoma City National Memorial & Museum, the National Cowboy & Western Heritage Museum, or the Science Museum Oklahoma.

Other Expenses to Consider in Oklahoma City

Despite Oklahoma having a progressive income tax, the top marginal rates still fall well below the bottom half of the states across the country. Anyone looking to purchase a home in Oklahoma can also anticipate property taxes below the national average. The sales tax rate in Oklahoma is the sixth highest in the country when you include state and local taxes. For Oklahoma City, in particular, expect a sales tax rate of 8.625%.

If you are moving out of state, you’ll need to account for additional expenses, including cross-country movers, storage, hotels, and transportation. Moves like this may also require apartment application fees, security deposits, pet deposits, and other add-ons.

You’ll also want to keep track of the costs of furnishing your new apartment since they can add up quickly. Decorate your apartment on a budget and stick to it, so you are sure not to go overboard.

What Salary Do You Need to Live in Oklahoma City?

To determine your recommended salary in Oklahoma City, you’ll first need to determine what lifestyle you plan to lead. The living wage in Oklahoma City is $15.86 per hour, which is the basic wage required to pay for essentials such as housing, food, and necessities. Just remember that this living wage will force you to live pretty frugally, as it does not account for any extra costs like entertainment or dining out.

The average salary index in Oklahoma City is $64,000 per year, roughly $30.77 per hour. Remember that the living wage, average salary, and recommended salary are three very different figures. To determine your recommended salary in Oklahoma City, you can follow the 30% rule for rent.

According to the 30% rule, you should not be spending more than one-third, or 30%, of your gross income on rent to live comfortably. For example, if your rent is close to the median for a one-bedroom apartment in Oklahoma City at $908, your monthly wages should be at least $3,026.66, per month or $36,320 annually according to the 30% rule.

While this figure might seem reasonable, this recommended salary is for a very basic lifestyle. If you anticipate additional living costs, such as dining, entertainment, etc., you’ll need to pursue a higher salary, a less expensive apartment, or both.

Thankfully, the typical annual salaries for common professions in Oklahoma City are highly competitive, with the three highest typical annual salaries belonging to Management, Architecture and Engineering, and Computer and Mathematical positions, respectively.

Job Market in Oklahoma City

The current job market in Oklahoma City is comparable to other similarly sized metropolitan areas. The current unemployment rate in Oklahoma City is lower than the national average and is currently sitting at 2.7%. However, it's worth noting that according to the U.S. Census Bureau, the median household income is currently $59,679.

The top employers in Oklahoma City include the state government, the University of Oklahoma, Integris Health, and the Mike Monroney Aeronautical Center. Jobs are readily available across the city, especially for those seeking a career in aviation, energy, or healthcare. There is also demand for pipe fitters, welders, and machinists in Oklahoma City.

Final Thoughts

Whether you are looking to move somewhere with cowboy culture, delicious food, or a low cost of living, Oklahoma City might be the place for you. Register with Apartment List today and start checking out the hundreds of available apartments to rent in Oklahoma City!

FAQs: Cost of Living in Oklahoma City

How expensive is an apartment in Oklahoma City?

A one bedroom apartment in Oklahoma City costs $908. A two bedroom apartment in Oklahoma City costs $1,143.

What is the cheapest rent in Oklahoma City?

A one bedroom apartment is the cheapest rent you can get in Oklahoma City, with the median rent sitting at $908. The average rent for a two bedroom apartment in Oklahoma City is higher at $1,143.

How expensive is it to live in Oklahoma City?

In Oklahoma City, rent averages $908 for a one bedroom apartment. Transportation costs in Oklahoma City amount to $5,477 a year. Food costs $3,926 a year on average for a single resident of Oklahoma City.

How far is Oklahoma City from Dallas?

Oklahoma City is 206.7 miles away from Dallas. It takes 3 hours and 42 minutes to get to Dallas from Oklahoma City by car, 19 hours by bike, and 73 hours by foot.

How far is Oklahoma City from Tulsa?

Oklahoma City is 107 miles away from Tulsa. It takes 1 hour and 34 minutes to get to Tulsa from Oklahoma City by car, 10 hours by bike, and 37 hours by foot.

What is the population of Oklahoma City?

According to the U.S. Census Bureau, the population of Oklahoma City is 687,725. It is the most populated city in the state of Oklahoma.