Cost of Living in Red Oak, OK

With a cost of living index of 59, Red Oak, 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. Red Oak is a small community of 582 residents.

Housing costs are the biggest factor in Red Oak's cost of living. The median monthly rent is $725 (45% below the US median of $1,319), and the median home value sits at $70,000 (77% below the national median of $304,900). At current prices, the median home costs roughly 2x the median household income — well within traditional affordability guidelines.

The median household income in Red Oak is $35,676, which is 53% lower than the national median of $75,149. Residents spend roughly 24% 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.