Total monthly cost of ownership
Cost to Own a Home in El Reno, Oklahoma
A $157,000 home here costs
$1,477per 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 $63,500 a year.
A standard mortgage calculator would have told you $856. The real number is $621 higher every month, 73% more than the payment most buyers budget for.
Compare Canadian 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.
El Reno against Canadian County and Oklahoma
| Measure | El Reno | Canadian County |
|---|---|---|
| Median home value | $157,000 | $230,300 |
| Median property tax | $1,326 | $2,259 |
| Effective tax rate | 0.845% | 0.981% |
| Median gross rent | $904 | $1,208 |
| Population | 17,919 | 162,621 |
The weather behind that power bill
El Reno sits in Canadian County, which averages a high of 93.5°F in its hottest month and a low of 25.2°F in its coldest, with 34.54" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 1,814 cooling and 3,917 heating degree days, which is what sets the $160 electricity line above.
See the full climate breakdown for Canadian County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Canadian County
Full Canadian County cost breakdown · Every county in Oklahoma
Talk to someone who works this market
These are El Reno 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 El Reno every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in El Reno I already own here and may sell
Common questions
How much does it cost to own a home in El Reno?
A $157,000 home in El Reno, Oklahoma costs approximately $1,477 per month with 20% down at 7.24%. That is $856 principal and interest, $111 property tax, $152 homeowners insurance, $228 utilities and $131 set aside for maintenance.
What is the property tax rate in El Reno?
El Reno has an effective property tax rate of 0.845%, based on a median home value of $157,000 and median real estate taxes of $1,326. That is lower than the Canadian County average of 0.981%.
What is the average home price in El Reno?
The median owner-occupied home value in El Reno, Oklahoma is $157,000, against $230,300 across Canadian County.
Is it cheaper to rent or buy in El Reno?
Median gross rent in El Reno is $904 a month, against $1,477 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 El Reno?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in El Reno, Oklahoma at today's rate takes a household income of roughly $63,500 a year. That covers the full $1,477 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for El Reno, 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.