B+
6%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
31%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Edmond Oklahoma National
Cost of living10686100
Goods & Services9691100
Groceries9494100
Health care9093100
Housing13169100
Transportation9493100
Utilities9798100

An Overview of Cost of Living in Edmond, OK

Are you thinking about relocating, but curious about the potential cost of living in Edmond? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Edmond stands at 106, making it 6% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

The cost of living in Edmond aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Edmond residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

When it comes to the cost of living in Edmond, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 30.6% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

What Do Locals Say About the Cost of Living in Edmond?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 11 locals to understand their opinions on the cost of living in Edmond. The results indicated that 64% found it reasonably priced with decreasing prices of goods and services, while 36% viewed it as quite expensive, with increasing prices.

Is Edmond Affordable?

Is Edmond an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Edmond is 37.2% higher than the national average, while the average monthly rent prices are 15.1% higher than average. The affordability of any location can also be influenced by median income levels. Edmond has a median household income of $84,223, which is 52.2% higher than the national average.

What Factors can Influence the Cost of Living in Edmond?

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Edmond, the prevailing sales tax rate starts at 4.5%, and income tax rates kick off at 0.25%.

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Edmond, the utilities index registers 3.2% lower than the national average.

Where is the Data From?

The Edmond cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Edmond is 23% higher than the Oklahoma average
  • The cost of living in Edmond is 6% higher than the national average
  • Edmond housing is 31% higher than the national average
  • Oklahoma general sales tax is 12% lower than the national average
  • Oklahoma state income tax is 90% lower than the national average

Most Affordable Places to Live in and Around Edmond

See all the best places to live around Edmond

Compare Edmond, OK Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$113,347$9,446$2,645$3,401
      Renters$46,072$3,839$1,075$1,382
      To approximate the cost of living and the housing affordability in Edmond, OK, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Edmond have a median income of $113,347. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,645 per month to avoid calamity and poverty. The renters in the city have an income of about $46,072, which would make their monthly maximum allowable rental costs $1,075.

      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 0.25% 4.75%

      Goods & Services

      Item Edmond National avg. Difference
      Haircut $18.70$24.2622.9%
      Beauty Salon $33.25$45.5627.0%
      Toothpaste $3.48$3.705.9%
      Shampoo $1.35$1.285.7%
      Movie $11.39$12.136.1%
      Bowling $12.54$18.0030.3%

      Groceries

      Item Edmond National avg. Difference
      Ground Beef $6.10$5.844.4%
      Fried Chicken $1.39$1.5711.7%
      Milk $4.51$4.673.6%
      Potatoes $5.31$4.937.6%
      Pizza $12.79$12.095.8%
      Beer $9.86$10.415.3%

      Health Care

      Item Edmond National avg. Difference
      Optometrist $150.54$125.6819.8%
      Doctor $125.86$135.787.3%
      Dentist $102.28$113.299.7%
      Ibuprofen $10.01$10.656.1%
      Lipitor $527.31$468.6012.5%

      Housing

      Item Edmond National avg. Difference
      Home Price $253,500.00$184,700.0037.2%
      Avg. Mortgage Payment $1,419.22$2,346.6939.5%
      Apartment Rent $1,092.00$949.0015.1%

      Transportation

      Item Edmond National avg. Difference
      Gasoline $3.09$3.4610.7%
      Tire Balancing $62.19$59.923.8%

      Utilities

      Item Edmond National avg. Difference
      All Electricity $185.04$193.994.6%
      Phone $195.54$192.251.7%
      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 Population Cost of Living Index National Avg.
      Spencer, OK3,9857921.5%
      Arcadia, OK1358119.0%
      Smith Village, OK737920.9%
      Del City, OK21,7628217.6%
      Warr Acres, OK10,1698515.0%
      Edmond, OK93,1011065.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Menifee, CA92,96813333.3%
      Greenville, NC92,826955.1%
      Fishers, IN93,48811211.8%
      Lawton, OK93,5358514.6%
      Arden-Arcade, CA93,71913332.9%
      Edmond, OK93,1011065.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.