Cost of Living in Elk City, KS

With a cost of living index of 61, Elk City, KS is one of the most affordable cities in the country. Living here is 39% cheaper than the national average and 11% below the Kansas state average of 72. Elk City is a small community of 281 residents.

Housing costs are the biggest factor in Elk City's cost of living. The median monthly rent is $921 (30% below the US median of $1,319), and the median home value sits at $22,300 (93% below the national median of $304,900). At current prices, the median home costs roughly 0.6x the median household income — well within traditional affordability guidelines.

The median household income in Elk City is $35,417, which is 53% lower than the national median of $75,149. Residents spend roughly 31% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Elk City. The area sees an average annual temperature of 58°F, with summers averaging 79°F and winters around 37°F. Annual rainfall totals 37.9 inches spread over roughly 92 days.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.