Elk City, OK vs Spencer, OK

Elk City, OK and Spencer, OK have a very similar cost of living, with only a 0.5% difference in their overall index. Elk City scores 71 while Spencer scores 70 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Elk City is $850/month compared to $940/month in Spencer — a 10% difference. Interestingly, home values tell a different story: while Elk City has cheaper rent, Spencer actually has lower median home values ($119,000 vs $165,300).

Median household income in Elk City is $49,500 compared to $57,550 in Spencer (-14%). Spencer offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Elk City spend roughly 20.6% of their income on rent, more than the 19.6% in Spencer.