Total monthly cost of ownership
Cost to Own a Home in Hobart, Oklahoma
A $64,000 home here costs
$726per 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 $31,000 a year.
A standard mortgage calculator would have told you $349. The real number is $377 higher every month, 108% more than the payment most buyers budget for.
Compare Kiowa County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Hobart from a five-year rolling sample, and with about 3,378 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 Kiowa 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.
Hobart against Kiowa County and Oklahoma
| Measure | Hobart | Kiowa County |
|---|---|---|
| Median home value | $63,500 | $90,300 |
| Median property tax | $402 | $517 |
| Effective tax rate | 0.633% | 0.573% |
| Median gross rent | $810 | $675 |
| Population | 3,378 | 8,458 |
The weather behind that power bill
Hobart sits in Kiowa County, which averages a high of 96.8°F in its hottest month and a low of 28.1°F in its coldest, with 27.99" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 2,307 cooling and 3,406 heating degree days, which is what sets the $160 electricity line above.
See the full climate breakdown for Kiowa County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Kiowa County
Talk to someone who works this market
These are Hobart 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 Hobart every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Hobart I already own here and may sell
Common questions
How much does it cost to own a home in Hobart?
A $64,000 home in Hobart, Oklahoma costs approximately $726 per month with 20% down at 7.24%. That is $349 principal and interest, $34 property tax, $62 homeowners insurance, $228 utilities and $53 set aside for maintenance.
What is the property tax rate in Hobart?
Hobart has an effective property tax rate of 0.633%, based on a median home value of $63,500 and median real estate taxes of $402. That is higher than the Kiowa County average of 0.573%.
What is the average home price in Hobart?
The median owner-occupied home value in Hobart, Oklahoma is $63,500, against $90,300 across Kiowa County.
Is it cheaper to rent or buy in Hobart?
Median gross rent in Hobart is $810 a month, against $726 to own the median home all in. Owning costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Hobart?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Hobart, Oklahoma at today's rate takes a household income of roughly $31,000 a year. That covers the full $726 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Hobart, 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.