Cost of Living in Faxon, OK

With a cost of living index of 57, Faxon, OK is one of the most affordable cities in the country. Living here is 43% cheaper than the national average and 14% below the Oklahoma state average of 71. Faxon is a small community of 72 residents.

Housing costs are the biggest factor in Faxon's cost of living. The median monthly rent is $533 (60% below the US median of $1,319), and the median home value sits at $128,100 (58% below the national median of $304,900). At current prices, the median home costs roughly 1.4x the median household income — well within traditional affordability guidelines.

The median household income in Faxon is $88,438, which is 18% higher than the national median of $75,149. Residents spend roughly 7% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Everyday prices in the Lawton, OK (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.