Cost of Living in Fargo, OK

With a cost of living index of 59, Fargo, OK is one of the most affordable cities in the country. Living here is 41% cheaper than the national average and 12% below the Oklahoma state average of 71. Fargo is a small community of 323 residents.

Housing costs are the biggest factor in Fargo's cost of living. The median monthly rent is $675 (49% below the US median of $1,319), and the median home value sits at $83,000 (73% below the national median of $304,900). At current prices, the median home costs roughly 1.2x the median household income — well within traditional affordability guidelines.

The median household income in Fargo is $67,188, which is 11% lower than the national median of $75,149. Residents spend roughly 12% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

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.