Cost of Living in Terral, OK

With a cost of living index of 49, Terral, OK is one of the most affordable cities in the country. Living here is 51% cheaper than the national average and 22% below the Oklahoma state average of 71. Terral is a small community of 273 residents.

Housing costs are the biggest factor in Terral's cost of living. The median monthly rent is $435 (67% below the US median of $1,319), and the median home value sits at $50,000 (84% 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 Terral is $36,667, which is 51% lower than the national median of $75,149. Residents spend roughly 14% 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.

Climate is another factor for anyone considering a move to Terral. The area sees an average annual temperature of 63.7°F, with summers averaging 83°F and winters around 44°F. Annual rainfall totals 27.9 inches spread over roughly 73 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

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.