Elgin, OK vs Goodwell, OK

The cost of living difference between Elgin, OK and Goodwell, OK is dramatic. Goodwell is 31.6% cheaper than Elgin, a gap that translates to thousands of dollars per year in household expenses. Elgin has a cost index of 87 while Goodwell sits at 66, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Elgin is $1,206/month compared to $826/month in Goodwell — a 46% difference. Home values follow the same pattern: Goodwell is more affordable at $122,000 median vs $243,600.

Median household income in Elgin is $81,739 compared to $85,982 in Goodwell (-4.9%). Goodwell offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Elgin spend roughly 17.7% of their income on rent, more than the 11.5% in Goodwell.