Total monthly cost of ownership
Cost to Own a Home in Stillwater, Oklahoma
A $231,000 home here costs
$2,083per 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 $89,500 a year.
A standard mortgage calculator would have told you $1,259. The real number is $823 higher every month, 65% more than the payment most buyers budget for.
Compare Payne 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.
Stillwater against Payne County and Oklahoma
| Measure | Stillwater | Payne County |
|---|---|---|
| Median home value | $230,900 | $217,700 |
| Median property tax | $2,148 | $1,884 |
| Effective tax rate | 0.930% | 0.865% |
| Median gross rent | $944 | $922 |
| Population | 48,818 | 82,290 |
The weather behind that power bill
Stillwater sits in Payne County, which averages a high of 93.6°F in its hottest month and a low of 25.7°F in its coldest, with 36.04" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 1,980 cooling and 3,711 heating degree days, which is what sets the $160 electricity line above.
See the full climate breakdown for Payne County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Payne County
Talk to someone who works this market
These are Stillwater 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 Stillwater every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Stillwater I already own here and may sell
Common questions
How much does it cost to own a home in Stillwater?
A $231,000 home in Stillwater, Oklahoma costs approximately $2,083 per month with 20% down at 7.24%. That is $1,259 principal and interest, $179 property tax, $224 homeowners insurance, $228 utilities and $193 set aside for maintenance.
What is the property tax rate in Stillwater?
Stillwater has an effective property tax rate of 0.930%, based on a median home value of $230,900 and median real estate taxes of $2,148. That is higher than the Payne County average of 0.865%.
What is the average home price in Stillwater?
The median owner-occupied home value in Stillwater, Oklahoma is $230,900, against $217,700 across Payne County.
Is it cheaper to rent or buy in Stillwater?
Median gross rent in Stillwater is $944 a month, against $2,083 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 Stillwater?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Stillwater, Oklahoma at today's rate takes a household income of roughly $89,500 a year. That covers the full $2,083 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Stillwater, 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.