CALCMONEY // HOME AFFORDABILITY // OK // EDMOND
How much house can you afford in Edmond? Based on local median home prices, current OK mortgage rates, and Edmond property tax data.
$285,000
$1,622/mo
$69,536/yr
$326,471
Monthly housing costs of $1,622 represent 24.7% of Edmond's median gross monthly income ($6,575/mo). At 24.7%, Edmond falls within the standard 28% affordability threshold at current median income levels.
| Median Home Price | $285,000 |
| Down Payment (20%) | $57,000 |
| Loan Amount | $228,000 |
| Monthly PI Payment | $1,502 |
| Monthly Property Tax | $2 |
| Monthly Insurance Est. | $119 |
| Total Monthly PITI | $1,622 |
| Housing Cost % of Income | 24.7% |
| Required Income (28% rule) | $69,536/yr |
| Max Affordable Home | $326,471 |
$9,975
$2,127/mo
Edmond Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $285,000 | Edmond city median |
| Down Payment (20%) | $57,000 | Conventional loan |
| Monthly PITI | $1,622 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $69,536 | Annual gross |
| Max Affordable Home | $326,471 | Based on median income |
| FHA Down (3.5%) | $9,975 | Minimum FHA |
| Housing Cost % of Income | 24.7% | Median income: $78,900/yr |
| Property Tax Rate | 0.009% | $26/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Edmond is $285,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $228,000, generating a monthly P&I payment of $1,502. Adding property taxes ($2/mo) and homeowners insurance ($119/mo) brings total monthly PITI to $1,622.
Edmond's property tax rate of 0.009% is among the lower rates in the country, which improves overall affordability by keeping total PITI closer to the principal and interest payment alone. On the Edmond median home, that is $2/month, or $26 per year.
Oklahoma levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Edmond should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Edmond's median income of $78,900/year can afford up to $1,841/month in total housing costs. Based on Edmond's mortgage rate of 6.9% and property tax rate of 0.009%, that translates to a maximum affordable home price of approximately $326,471 with 20% down on a 30-year loan.
To afford the median Edmond home priced at $285,000, you need an annual gross income of approximately $69,536. Total monthly housing costs (principal and interest of $1,502, property taxes of $2, and insurance of $119) come to $1,622/month, which equals 28% of the required income.
At the median home price of $285,000 and median household income of $78,900, the total monthly housing cost of $1,622 represents 24.7% of gross monthly income. This is within the standard 28% guideline, making Edmond relatively accessible at current income levels.
A conventional 20% down payment on the median Edmond home of $285,000 is $57,000. An FHA loan requires just 3.5% down — $9,975 — but adds mortgage insurance of roughly $195/month, bringing total FHA payments to $2,127/month.