Cost of Living in Shawnee, OK

An Overview of Cost of Living in Shawnee, OK

The cost of living in Shawnee affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Shawnee is 84, which is 16% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Everyday staples like clothes, toiletries and entertainment expenses play a big role in your total living costs. But in Shawnee, these goods are 13.1% cheaper than the national average. So, you can enjoy what you need and love without emptying your wallet. Plus, you'll have more cash to put towards your savings or any other money goals you have, which is a real boost for your financial well-being.

Is Shawnee Affordable?

Is Shawnee affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Shawnee, for instance, where the median home price falls 38.7% lower than the national average, and monthly rent rates are 25.5% lower than usual. Additionally, median income levels contribute to the equation, with Shawnee flaunting a median household income of $41,123, 25.7% lower than the national norm.

What Factors can Influence the Cost of Living in Shawnee?

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Shawnee, healthcare costs are 4.6% higher than the national average.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Shawnee, the utilities index is 3.4% lower than the national average.

Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Shawnee, is 34.7% lower than the national average.

Where is the Data From?

The cost of living data in Shawnee displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.