The Cost of Living in Broken Arrow: A Detailed Analysis
Broken Arrow: A Detailed Analysis" />
Broken Arrow, Oklahoma, is a city that has been growing rapidly in recent years. With a population of over 110,000 people, it is the fourth-largest city in the state. The city has a lot to offer, including a low cost of living. In this article, we will take a detailed look at the cost of living in Broken Arrow and what makes it an attractive place to live for real estate investors, homeowners, first-time home buyers, and real estate agents.
What is the Cost of Living in Broken Arrow?
The cost of living in Broken Arrow is lower than the national average. According to BestPlaces, the cost of living index in Broken Arrow is 89.5, which is lower than the national average of 100. This means that the cost of living in Broken Arrow is 10.5% lower than the national average. The biggest factor contributing to the low cost of living in Broken Arrow is housing. The median home price in Broken Arrow is $184,000, which is lower than the national median home price of $231,000.
Why is Broken Arrow an Attractive Place to Live?
Apart from the low cost of living, there are several other reasons why Broken Arrow is an attractive place to live. Firstly, the city has a strong economy. The unemployment rate in Broken Arrow is 3.2%, which is lower than the national average of 3.7%. The city is home to several large employers, including FlightSafety International, Blue Bell Creameries, and Windstream Communications.
Secondly, Broken Arrow has a great education system. The city is served by the Broken Arrow Public Schools, which is the largest school district in Oklahoma. The district has a graduation rate of 94%, which is higher than the national average of 84%.
Thirdly, Broken Arrow has a great quality of life. The city has several parks and recreational areas, including the Ray Harral Nature Park and the Haikey Creek Park. The city also has a vibrant downtown area, which is home to several restaurants, shops, and entertainment venues.
What are the Average Living Expenses in Broken Arrow?
To give you a better idea of the cost of living in Broken Arrow, we have compiled a list of average living expenses in the city:
- Utilities (electricity, gas, water, and garbage) for a 915 square foot apartment cost around $150 per month.
- A gallon of milk costs around $2.50.
- A loaf of bread costs around $2.50.
- A dozen eggs cost around $1.50.
- A pound of chicken breast costs around $3.50.
- A pound of ground beef costs around $4.50.
FAQs
1. Is Broken Arrow a good place to invest in real estate?
Yes, Broken Arrow is a great place to invest in real estate. The city has a strong economy, a low cost of living, and a great quality of life. These factors make it an attractive place for people to live, which drives demand for housing.
2. How does the cost of living in Broken Arrow compare to other cities in Oklahoma?
The cost of living in Broken Arrow is lower than the cost of living in other cities in Oklahoma. According to BestPlaces, the cost of living index in Tulsa, Oklahoma, is 89.9, which is slightly higher than the cost of living index in Broken Arrow.
3. What is the median household income in Broken Arrow?
The median household income in Broken Arrow is $75,000, which is higher than the national median household income of $62,843.
Conclusion
In conclusion, Broken Arrow is a great place to live for real estate investors, homeowners, first-time home buyers, and real estate agents. The city has a low cost of living, a strong economy, a great education system, and a great quality of life. The cost of living in Broken Arrow is lower than the national average, which makes it an attractive place for people to live. If you are looking for a great place to live in Oklahoma, Broken Arrow should definitely be on your list.
