Total monthly cost of ownership
Cost to Own a Home in Goodwell, Oklahoma
A $122,000 home here costs
$1,177per 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 $50,500 a year.
A standard mortgage calculator would have told you $665. The real number is $511 higher every month, 77% more than the payment most buyers budget for.
Compare Texas County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Goodwell from a five-year rolling sample, and with about 1,271 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 Texas 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.
Goodwell against Texas County and Oklahoma
| Measure | Goodwell | Texas County |
|---|---|---|
| Median home value | $122,000 | $155,600 |
| Median property tax | $764 | $1,075 |
| Effective tax rate | 0.626% | 0.691% |
| Median gross rent | $826 | $939 |
| Population | 1,271 | 20,880 |
The weather behind that power bill
Goodwell sits in Texas County, which averages a high of 95.0°F in its hottest month and a low of 21.9°F in its coldest, with 17.75" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 1,640 cooling and 4,293 heating degree days, which is what sets the $160 electricity line above.
See the full climate breakdown for Texas County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Texas County
Talk to someone who works this market
These are Goodwell 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 Goodwell every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Goodwell I already own here and may sell
Common questions
How much does it cost to own a home in Goodwell?
A $122,000 home in Goodwell, Oklahoma costs approximately $1,177 per month with 20% down at 7.24%. That is $665 principal and interest, $64 property tax, $118 homeowners insurance, $228 utilities and $102 set aside for maintenance.
What is the property tax rate in Goodwell?
Goodwell has an effective property tax rate of 0.626%, based on a median home value of $122,000 and median real estate taxes of $764. That is lower than the Texas County average of 0.691%.
What is the average home price in Goodwell?
The median owner-occupied home value in Goodwell, Oklahoma is $122,000, against $155,600 across Texas County.
Is it cheaper to rent or buy in Goodwell?
Median gross rent in Goodwell is $826 a month, against $1,177 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 Goodwell?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Goodwell, Oklahoma at today's rate takes a household income of roughly $50,500 a year. That covers the full $1,177 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Goodwell, 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.