One thing that many prospective homeowners check out before they build a new home is what the cost of living is in the area where they’re considering building. If you’re thinking about building a new home in Edmond, there’s a good chance you’re wondering about that as well. What is the cost of living in Edmond? Here are the latest figures available.
We took a look at bestplaces.net to get the most current information. Best Places ranks thousands of places to live based on analysis, data and key statistics from the U.S. Census and their Best Places To Live Expert Insights. This enables consumers to evaluate where they want to live. Here are some key numbers for Edmond so that you can evaluate for yourself.
Keep in mind that a score of 100 is the national average. Numbers above that mean it’s more expensive. Numbers below 100 mean it’s less expensive.
When it's time to put food on the table, your dollar will go farther in Edmond. Groceries come in at 89.7 as opposed to 97.7 for the rest of the state and 100 for the country.
Edmond shows up as having a healthcare cost of 119 versus 100 for the rest of the country—making it a bit more expensive (although another report on the bestplaces.net site shows Edmond healthcare at 95.7).
If you want to build a home in Edmond you’ll probably pay a bit more than the national average. Around here the number is 120 as opposed to 100 for the nation. But bear in mind that the homes in the area (because of who builds here) may be considerably nicer than the national average. Also, the median cost of a home here is $223,700 versus $216,200 for the national median. It’s really not that much more expensive. Plus, if you’re already in the market here, you’ll get more for your existing home. So it’s a bit of a wash. Keep in mind that the median household income of an Edmond resident is $71,825 a year while the U.S. median is $53,482 a year.
Edmond is smack in the middle of the country when it comes to the cost of utilities across the nation. We come in at exactly 100.
When you add up all the factors (we’ve only looked at a few) the cost of living in Edmond comes in at 107 compared to the national average of 100. It costs a little bit more to live here—but not a significant amount.
What Are Other Mitigating Factors?
Cost of living, of course, is only part of the equation when it comes to choosing where you’re going to live.
The Overall Economy
Edmond has an unemployment rate of just 3.8 percent. The US unemployment average is 5.2 percent. Edmond has seen the job market increase by 2.9% over the last year. Future job growth over the next ten years is predicted to be 41.9%, which is higher than the US average of 38.0%. Edmond has been experiencing a revitalized economy for a number of years.
You’re a Veteran
Edmond is ranked #1 among Best Places for Military Retirees!
You Already Live Here
Maybe you have a job here that you’re happy with. Perhaps you have family in the area. Or it could be that Edmond just feels like home to you and you’re really not interested in living anywhere else!
Great Communities Within Edmond
There are a number of great new communities within Edmond that provide homes and environments that may fit your lifestyle.
- Hidden Creek is a new modern farmhouse community with beautiful new homes from $400,000
- Pravada is a gorgeous gated neighborhood that boasts large (2+ acre) lots, winding roads, ponds, and mature trees
- Hitchin Post is an ideal location for homeowners who want heavily wooded 5-acre lots that come without a lot of restrictions