Total monthly cost of ownership
Cost to Own a Home in Commerce, Oklahoma
A $72,000 home here costs
$718per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $370. The real number is $348 higher every month — 94% 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.
Commerce against Ottawa County and Oklahoma
| Measure | Commerce | Ottawa County |
|---|---|---|
| Median home value | $71,500 | $114,300 |
| Median property tax | $358 | $708 |
| Effective tax rate | 0.501% | 0.619% |
| Median gross rent | $681 | $764 |
| Population | 2,259 | 30,360 |
The weather behind that power bill
Commerce sits in Ottawa County, which averages a high of 89.1°F in its hottest month and a low of 23.2°F in its coldest, with 45.8" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 1,381 cooling and 4,376 heating degree days, which is what sets the $120 electricity line above.
See the full climate breakdown for Ottawa County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Ottawa County
Full Ottawa County cost breakdown · Every county in Oklahoma
Common questions
How much does it cost to own a home in Commerce?
A $72,000 home in Commerce, Oklahoma costs approximately $718 per month with 20% down at 6.66%. That is $370 principal and interest, $30 property tax, $70 homeowners insurance, $188 utilities and $60 set aside for maintenance.
What is the property tax rate in Commerce?
Commerce has an effective property tax rate of 0.501%, based on a median home value of $71,500 and median real estate taxes of $358. That is lower than the Ottawa County average of 0.619%.
What is the average home price in Commerce?
The median owner-occupied home value in Commerce, Oklahoma is $71,500, against $114,300 across Ottawa County.
Is it cheaper to rent or buy in Commerce?
Median gross rent in Commerce is $681 a month, against $718 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 Commerce — 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.