Elk City, OK is a great place to live that offers residents an affordable cost of living. The average 2 bedroom rent in Elk City, OK is $810 compared to the US average of $1,430, making it much more affordable than most places in the country. Grocery costs are also substantially lower with an index of 93 versus 100 in the US. This means that the cost of groceries will likely be 7% cheaper than what you would pay for them elsewhere in the country.
Elk City is home to many local businesses such as Big Sky Farms Dairy, Rose Feather Plumbing & Heating Supply Co., and Paramount Steel Fabrication. These companies provide jobs and economic stability for the area and help make Elk City a great place to live. With its low rent prices and grocery costs, Elk City is definitely worth considering as a truly affordable place to live and work.
Elk City has an unemployment rate of 5.0%. The US average is 6.0%.
Elk City has seen the job market increase by 3.0% over the last year. Future job growth over the next ten years is predicted to be 19.8%, which is lower than the US average of 33.5%.
Tax Rates for Elk City
- The Sales Tax Rate for Elk City is 9.3%. The US average is 7.3%.
- The Income Tax Rate for Elk City is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Elk City
- The average income of a Elk City resident is $27,120 a year. The US average is $28,555 a year.
- The Median household income of a Elk City resident is $44,159 a year. The US average is $69,021 a year.