Cost of Living in Medicine Park, OK

With a cost of living index of 94, Medicine Park, OK is slightly more affordable than average. Living here is 6% cheaper than the national average and 23% above the Oklahoma state average of 71. Medicine Park is a small community of 344 residents.

Housing costs are the biggest factor in Medicine Park's cost of living. The median monthly rent is $1,188 (10% below the US median of $1,319), and the median home value sits at $326,800 (7% above the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Medicine Park is $106,750, which is 42% higher than the national median of $75,149. Residents spend roughly 13% 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.