Total monthly cost of ownership
Cost to Own a Home in Lone Grove, Oklahoma
A $184,000 home here costs
$1,683per 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 $72,000 a year.
A standard mortgage calculator would have told you $1,003. The real number is $680 higher every month, 68% more than the payment most buyers budget for.
Compare Carter 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.
Lone Grove against Carter County and Oklahoma
| Measure | Lone Grove | Carter County |
|---|---|---|
| Median home value | $184,400 | $153,500 |
| Median property tax | $1,444 | $1,185 |
| Effective tax rate | 0.783% | 0.772% |
| Median gross rent | $884 | $945 |
| Population | 5,070 | 48,255 |
The weather behind that power bill
Lone Grove sits in Carter County, which averages a high of 93.5°F in its hottest month and a low of 27.9°F in its coldest, with 41.8" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 2,038 cooling and 3,280 heating degree days, which is what sets the $160 electricity line above.
See the full climate breakdown for Carter County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Carter County
Full Carter County cost breakdown · Every county in Oklahoma
Talk to someone who works this market
These are Lone Grove 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 Lone Grove every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Lone Grove I already own here and may sell
Common questions
How much does it cost to own a home in Lone Grove?
A $184,000 home in Lone Grove, Oklahoma costs approximately $1,683 per month with 20% down at 7.24%. That is $1,003 principal and interest, $120 property tax, $178 homeowners insurance, $228 utilities and $153 set aside for maintenance.
What is the property tax rate in Lone Grove?
Lone Grove has an effective property tax rate of 0.783%, based on a median home value of $184,400 and median real estate taxes of $1,444. That is higher than the Carter County average of 0.772%.
What is the average home price in Lone Grove?
The median owner-occupied home value in Lone Grove, Oklahoma is $184,400, against $153,500 across Carter County.
Is it cheaper to rent or buy in Lone Grove?
Median gross rent in Lone Grove is $884 a month, against $1,683 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 Lone Grove?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lone Grove, Oklahoma at today's rate takes a household income of roughly $72,000 a year. That covers the full $1,683 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lone Grove, 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.