Living in Oklahoma: Income, Housing, Taxes & Cost of Living (2026)
By Wealthvieu
·
Updated
Table of Contents
Oklahoma at a Glance
| Metric |
Value |
National Rank |
| Population (2024) |
4.0 million |
28th |
| Median household income |
$59,673 |
Below average |
| Median home price |
$210,000 |
Well below average |
| Cost of living index |
86 |
Very low |
| State income tax |
0.25-4.75% |
Average |
| Sales tax |
4.5% (+ local up to 7%) |
Very high combined |
| Property tax (effective rate) |
0.87% |
Below average |
Income and Housing
| City/Area |
Median Income |
Median Home Price |
Median Rent (2BR) |
| Oklahoma City |
$62,000 |
$230,000 |
$1,050 |
| Tulsa |
$55,000 |
$210,000 |
$1,000 |
| Norman |
$58,000 |
$240,000 |
$1,050 |
| Edmond |
$92,000 |
$320,000 |
$1,350 |
| Broken Arrow |
$78,000 |
$275,000 |
$1,150 |
| Stillwater |
$42,000 |
$190,000 |
$900 |
| Lawton |
$48,000 |
$150,000 |
$800 |
Sales Tax Warning
Oklahoma has one of the highest combined sales tax rates in the US when local taxes are added:
| City |
Combined Sales Tax Rate |
| Oklahoma City |
8.625% |
| Tulsa |
8.517% |
| Norman |
8.75% |
Energy Economy
Oklahoma’s economy is significantly tied to oil and gas. This creates income volatility:
- Boom periods: Very low unemployment, high wages in energy sector
- Bust periods: Job losses, slower state revenue, potential service cuts
Oklahoma Pros and Cons
| Financial Pros |
Financial Cons |
| Very low COL (86 index) |
Below-average income |
| Affordable housing ($210K median) |
Very high combined sales tax (8-9%) |
| Low property taxes (0.87%) |
Energy-dependent economy |
| Moderate income tax (4.75% max) |
Tornado risk and insurance costs |
| Growing OKC metro |
Limited public transit |
Related: Cost of Living by State | State Income Tax Rates | Property Tax by State
