Oakwood, OK is a small city in Oklahoma with a population of about 1,200 people. The cost of living in Oakwood is much lower than the national average. With an average 2 bedroom rent of $700 and grocery cost index of 91 versus 100 in the US, many people are able to afford to live comfortably here. It's also home to several local companies such as Sarah's Diner, Oakwood Banking and Trust, and Grace's Automotive Repair.
Oakwood has an unemployment rate of 3.4%. The US average is 6.0%.
Oakwood has seen the job market decrease by -8.2% over the last year. Future job growth over the next ten years is predicted to be 42.5%, which is higher than the US average of 33.5%.
Tax Rates for Oakwood
- The Sales Tax Rate for Oakwood is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Oakwood 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 Oakwood
- The average income of a Oakwood resident is $29,156 a year. The US average is $37,638 a year.
- The Median household income of a Oakwood resident is $0 a year. The US average is $69,021 a year.