Total monthly cost of ownership
Cost to Own a Home in Nicoma Park, Oklahoma
A $145,000 home here costs
$1,381per 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 $59,000 a year.
A standard mortgage calculator would have told you $791. The real number is $591 higher every month, 75% more than the payment most buyers budget for.
Compare Oklahoma County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Nicoma Park from a five-year rolling sample, and with about 2,512 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 Oklahoma 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.
Nicoma Park against Oklahoma County and Oklahoma
| Measure | Nicoma Park | Oklahoma County |
|---|---|---|
| Median home value | $145,400 | $207,800 |
| Median property tax | $1,220 | $2,045 |
| Effective tax rate | 0.839% | 0.984% |
| Median gross rent | $805 | $1,073 |
| Population | 2,512 | 800,487 |
The weather behind that power bill
Nicoma Park sits in Oklahoma County, which averages a high of 94.0°F in its hottest month and a low of 27.4°F in its coldest, with 30.54" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 2,093 cooling and 3,563 heating degree days, which is what sets the $160 electricity line above.
See the full climate breakdown for Oklahoma County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Oklahoma County
Full Oklahoma County cost breakdown · Every county in Oklahoma
Talk to someone who works this market
These are Nicoma Park 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 Nicoma Park every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Nicoma Park I already own here and may sell
Common questions
How much does it cost to own a home in Nicoma Park?
A $145,000 home in Nicoma Park, Oklahoma costs approximately $1,381 per month with 20% down at 7.24%. That is $791 principal and interest, $101 property tax, $141 homeowners insurance, $228 utilities and $121 set aside for maintenance.
What is the property tax rate in Nicoma Park?
Nicoma Park has an effective property tax rate of 0.839%, based on a median home value of $145,400 and median real estate taxes of $1,220. That is lower than the Oklahoma County average of 0.984%.
What is the average home price in Nicoma Park?
The median owner-occupied home value in Nicoma Park, Oklahoma is $145,400, against $207,800 across Oklahoma County.
Is it cheaper to rent or buy in Nicoma Park?
Median gross rent in Nicoma Park is $805 a month, against $1,381 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 Nicoma Park?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Nicoma Park, Oklahoma at today's rate takes a household income of roughly $59,000 a year. That covers the full $1,381 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Nicoma Park, 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.