Total monthly cost of ownership
Cost to Own a Home in Altus, Oklahoma
A $125,000 home here costs
$1,210per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $52,000 a year.
A standard mortgage calculator would have told you $681. The real number is $528 higher every month, 78% more than the payment most buyers budget for.
Compare Jackson County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Altus against Jackson County and Oklahoma
| Measure | Altus | Jackson County |
|---|---|---|
| Median home value | $124,800 | $145,000 |
| Median property tax | $898 | $918 |
| Effective tax rate | 0.720% | 0.633% |
| Median gross rent | $897 | $865 |
| Population | 18,670 | 24,730 |
The weather behind that power bill
Altus sits in Jackson County, which averages a high of 95.7°F in its hottest month and a low of 27.5°F in its coldest, with 28.02" of precipitation a year and 39% of it in a single three-month stretch. That climate drives 2,282 cooling and 3,297 heating degree days, which is what sets the $160 electricity line above.
See the full climate breakdown for Jackson County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Jackson County
No other places of this size are published in Jackson County.
Full Jackson County cost breakdown · Every county in Oklahoma
Talk to someone who works this market
These are Altus averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Altus every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Altus?
A $125,000 home in Altus, Oklahoma costs approximately $1,210 per month with 20% down at 7.24%. That is $681 principal and interest, $75 property tax, $121 homeowners insurance, $228 utilities and $104 set aside for maintenance.
What is the property tax rate in Altus?
Altus has an effective property tax rate of 0.720%, based on a median home value of $124,800 and median real estate taxes of $898. That is higher than the Jackson County average of 0.633%.
What is the average home price in Altus?
The median owner-occupied home value in Altus, Oklahoma is $124,800, against $145,000 across Jackson County.
Is it cheaper to rent or buy in Altus?
Median gross rent in Altus is $897 a month, against $1,210 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Altus?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Altus, Oklahoma at today's rate takes a household income of roughly $52,000 a year. That covers the full $1,210 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Altus, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Oklahoma.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.