Total monthly cost of ownership
Cost to Own a Home in Frederick, Oklahoma
A $67,000 home here costs
$753per 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 $32,500 a year.
A standard mortgage calculator would have told you $365. The real number is $388 higher every month, 106% more than the payment most buyers budget for.
Compare Tillman County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Frederick from a five-year rolling sample, and with about 3,460 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Tillman County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Frederick against Tillman County and Oklahoma
| Measure | Frederick | Tillman County |
|---|---|---|
| Median home value | $67,100 | $71,900 |
| Median property tax | $470 | $477 |
| Effective tax rate | 0.700% | 0.663% |
| Median gross rent | $703 | $704 |
| Population | 3,460 | 6,967 |
The weather behind that power bill
Frederick sits in Tillman County, which averages a high of 97.2°F in its hottest month and a low of 30.0°F in its coldest, with 27.89" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 2,445 cooling and 2,897 heating degree days, which is what sets the $160 electricity line above.
See the full climate breakdown for Tillman County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Tillman County
No other places of this size are published in Tillman County.
Full Tillman County cost breakdown · Every county in Oklahoma
Talk to someone who works this market
These are Frederick 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 Frederick every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Frederick I already own here and may sell
Common questions
How much does it cost to own a home in Frederick?
A $67,000 home in Frederick, Oklahoma costs approximately $753 per month with 20% down at 7.24%. That is $365 principal and interest, $39 property tax, $65 homeowners insurance, $228 utilities and $56 set aside for maintenance.
What is the property tax rate in Frederick?
Frederick has an effective property tax rate of 0.700%, based on a median home value of $67,100 and median real estate taxes of $470. That is higher than the Tillman County average of 0.663%.
What is the average home price in Frederick?
The median owner-occupied home value in Frederick, Oklahoma is $67,100, against $71,900 across Tillman County.
Is it cheaper to rent or buy in Frederick?
Median gross rent in Frederick is $703 a month, against $753 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 Frederick?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Frederick, Oklahoma at today's rate takes a household income of roughly $32,500 a year. That covers the full $753 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Frederick, 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.