Woodward, OK

Very Low · 57

Oklahoma · Population 11,976 · Updated March 2026

$839
Median Rent / Month
$60,720
Median Income
$164,200
Median Home Value
$866
Owner Costs / Month

Affordability

How far your income goes in Woodward

16.6%
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

$10,068
Annual Rent
$2,884
State Income Tax
$1,478
Property Tax (est.)

Cost of Living Overview

Woodward is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 57 (where 100 equals the national median), Woodward residents can expect to pay median rent of $839/month while earning a median household income of $60,720/year.

The median home value in Woodward, OK is $164,200, with typical monthly owner costs around $866 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.6% 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 Woodward.

Frequently Asked Questions

Common questions about living costs in Woodward

What is the cost of living in Woodward, OK?
The cost of living index in Woodward, OK is 57 (US average = 100). Median monthly rent is $839, median household income is $60,720/year, and the median home value is $164,200.
Is Woodward, OK affordable?
Yes, Woodward is more affordable than the national average with a cost index of 57. The rent-to-income ratio is 16.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Woodward, OK?
The median gross rent in Woodward, OK is $839 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,068.
What is the median household income in Woodward?
The median household income in Woodward, OK is $60,720 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%.