A+
14%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
28%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Guymon Oklahoma National
Cost of living8686100
Goods & Services9291100
Groceries9494100
Health care8493100
Housing7269100
Transportation9293100
Utilities9798100

An Overview of Cost of Living in Guymon, OK

Are you thinking about relocating, but curious about the potential cost of living in Guymon? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Guymon stands at 86, making it 14% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Is Guymon Affordable?

Is Guymon an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Guymon is 34.4% lower than the national average, while the average monthly rent prices are 14% lower than average. The affordability of any location can also be influenced by median income levels. Guymon has a median household income of $51,234, which is 7.4% lower than the national average.

What Factors can Influence the Cost of Living in Guymon?

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Guymon, the groceries index is 5.7% lower than the national average.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Guymon, the standard sales tax rate starts at 4.5%, and the income tax rates commence at 0.25%.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Guymon, the utilities index registers 3.1% lower than the national average.

Where is the Data From?

The Guymon cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Guymon is 1% higher than the Oklahoma average
  • The cost of living in Guymon is 14% lower than the national average
  • Guymon housing is 28% lower than the national average
  • Oklahoma general sales tax is 12% lower than the national average
  • Oklahoma state income tax is 90% lower than the national average

Most Affordable Places to Live in and Around Guymon

See all the best places to live around Guymon

Compare Guymon, OK Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$65,737$5,478$1,534$1,972
      Renters$43,460$3,622$1,014$1,304
      A good way to judge both the affordability of the housing and the cost of living in Guymon is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Guymon has a median income of about $65,737 for people who own homes. Based on that number, a maximum of $1,534 should be spent on expenses related to housing. Renters have a slightly different median income, which is $43,460. Based on this average, renters should spend no more than $1,014 on all rental costs if they want to maintain a non-impoverished standard of living.

      Oklahoma Sales Tax

      State General Sales Tax With Max Surtax
      Oklahoma 4.5% 11%

      Oklahoma Income Tax

      State Income Tax (Low) Income Tax (High)
      Oklahoma 0.25% 4.75%

      Goods & Services

      Item Guymon National avg. Difference
      Haircut $28.33$24.2616.8%
      Beauty Salon $49.67$45.569.0%
      Toothpaste $3.63$3.702.0%
      Shampoo $1.25$1.282.6%
      Movie $10.19$12.1316.0%
      Bowling $16.11$18.0010.5%

      Groceries

      Item Guymon National avg. Difference
      Ground Beef $5.84$5.840.1%
      Fried Chicken $1.32$1.5716.1%
      Milk $4.51$4.673.5%
      Potatoes $4.15$4.9315.9%
      Pizza $10.10$12.0916.4%
      Beer $9.99$10.414.0%

      Health Care

      Item Guymon National avg. Difference
      Optometrist $77.00$125.6838.7%
      Doctor $114.00$135.7816.0%
      Dentist $91.00$113.2919.7%
      Ibuprofen $10.21$10.654.1%
      Lipitor $450.42$468.603.9%

      Housing

      Item Guymon National avg. Difference
      Home Price $121,200.00$184,700.0034.4%
      Avg. Mortgage Payment $1,449.46$2,346.6938.2%
      Apartment Rent $816.00$949.0014.0%

      Transportation

      Item Guymon National avg. Difference
      Gasoline $3.19$3.467.7%
      Tire Balancing $54.00$59.929.9%

      Utilities

      Item Guymon National avg. Difference
      All Electricity $173.26$193.9910.7%
      Phone $209.24$192.258.8%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Optima, OK3227822.1%
      Goodwell, OK1,1088218.1%
      Hooker, OK1,5048217.9%
      Guymon, OK11,3818613.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Stuarts Draft, VA11,3801032.6%
      Nanakuli, HI11,37915049.9%
      Martinsville, NJ11,38415958.8%
      Bellmawr, NJ11,3751011.2%
      Minnehaha, WA11,38712424.5%
      Guymon, OK11,3818613.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.