Owasso, OK

Below Avg · 83

Oklahoma · Population 39,013 · Updated March 2026

$1,222
Median Rent / Month
$79,386
Median Income
$231,400
Median Home Value
$1,285
Owner Costs / Month

Affordability

How far your income goes in Owasso

18.5%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Oklahoma

State-level tax rates that affect your costs

4.75%
Income Tax (Top Rate)
4.5%
Sales Tax
0.9%
Property Tax Rate

Estimated Annual Costs

$14,664
Annual Rent
$3,771
State Income Tax
$2,083
Property Tax (est.)

Cost of Living Overview

Owasso is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 83 (where 100 equals the national median), Owasso residents can expect to pay median rent of $1,222/month while earning a median household income of $79,386/year.

The median home value in Owasso, OK is $231,400, with typical monthly owner costs around $1,285 including mortgage, insurance, and taxes. The median rent-to-income ratio of 18.5% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Oklahoma has a moderate income tax rate of 4.75%. Combined with a 4.5% sales tax rate and 0.9% effective property tax rate, the overall tax environment is a factor in the total cost of living in Owasso.

Frequently Asked Questions

Common questions about living costs in Owasso

What is the cost of living in Owasso, OK?
The cost of living index in Owasso, OK is 83 (US average = 100). Median monthly rent is $1,222, median household income is $79,386/year, and the median home value is $231,400.
Is Owasso, OK affordable?
Yes, Owasso is more affordable than the national average with a cost index of 83. The rent-to-income ratio is 18.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Owasso, OK?
The median gross rent in Owasso, OK is $1,222 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $14,664.
What is the median household income in Owasso?
The median household income in Owasso, OK is $79,386 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Oklahoma?
Oklahoma has a top income tax rate of 4.75%, a sales tax of 4.5%, and an effective property tax rate of 0.9%.