Total monthly cost of ownership
Cost to Own a Home in Alva, Oklahoma
A $133,000 home here costs
$1,174per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $684. The real number is $490 higher every month — 72% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Alva against Woods County and Oklahoma
| Measure | Alva | Woods County |
|---|---|---|
| Median home value | $132,500 | $141,900 |
| Median property tax | $740 | $731 |
| Effective tax rate | 0.558% | 0.515% |
| Median gross rent | $826 | $806 |
| Population | 5,009 | 8,619 |
The weather behind that power bill
Alva sits in Woods County, which averages a high of 94.4°F in its hottest month and a low of 22.0°F in its coldest, with 27.75" of precipitation a year and 39% of it in a single three-month stretch. That climate drives 1,820 cooling and 4,389 heating degree days, which is what sets the $120 electricity line above.
See the full climate breakdown for Woods County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Woods County
No other places of this size are published in Woods County.
Common questions
How much does it cost to own a home in Alva?
A $133,000 home in Alva, Oklahoma costs approximately $1,174 per month with 20% down at 6.66%. That is $684 principal and interest, $62 property tax, $129 homeowners insurance, $188 utilities and $111 set aside for maintenance.
What is the property tax rate in Alva?
Alva has an effective property tax rate of 0.558%, based on a median home value of $132,500 and median real estate taxes of $740. That is higher than the Woods County average of 0.515%.
What is the average home price in Alva?
The median owner-occupied home value in Alva, Oklahoma is $132,500, against $141,900 across Woods County.
Is it cheaper to rent or buy in Alva?
Median gross rent in Alva is $826 a month, against $1,174 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Alva — 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.