The typical owner-occupied home in Faxon is worth about $125,000, 37% below the Oklahoma median of $199,800 and 62% below the national median of $332,700. The median household earns $86,250 a year, so the median home costs 1.4 times the median income (3.1 times for Oklahoma). 79% of occupied homes here are lived in by their owners, and 50% of those owners still have a mortgage.
Faxon at a glance
| Faxon | Oklahoma | U.S. | |
|---|---|---|---|
| Median home value | $125,000 | $199,800 | $332,700 |
| Median property tax paid per year | – | $1,599 | $3,119 |
| Median household income | $86,250 | $65,039 | $80,734 |
| Homes lived in by their owners | 79% | 66% | 65% |
| Owner homes with a mortgage | 50% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,094 | $1,539 | $1,963 |
| Those costs as a share of the owners' income | 14.6% | 19.6% | 21.0% |
| Median rent | $540 | $1,014 | $1,413 |
| Rent as a share of renters' income | 12.5% | 28.4% | 30.6% |
| Median year homes were built | 1975 | 1980 | 1980 |
| Vacant homes | 22.4% | 12.0% | 10.1% |
| Population | 86 | 4,028,634 | 334,922,499 |
What a typical home costs per month in Faxon
At this week's average 30-year rate of 7.11%, buying the median Faxon home of $125,000 with 20% down costs about $839 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,048, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $35,973 for the 20%-down payment. That payment is 12% of the median Faxon household income of $86,250; at that income and 20% down, the 28% guideline points to a home of about $300,000.
The median rent here is $540 a month, so owning the median home costs about $299 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $25,000 |
|---|---|
| Loan amount | $100,000 |
| Principal and interest | $673 |
| Property taxes (1.10% a year) | $115 |
| Homeowners insurance (our estimate, 0.5% a year) | $52 |
| PMI | $0 |
| Total per month | $839 |
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| Down payment | $4,375 |
|---|---|
| Loan amount | $122,736 |
| Principal and interest | $826 |
| Property taxes (1.10% a year) | $115 |
| Homeowners insurance (our estimate, 0.5% a year) | $52 |
| FHA mortgage insurance | $55 |
| Total per month | $1,048 |
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Questions about home buying in Faxon
What is the median home value in Faxon?
About $125,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Faxon?
For the median home with 20% down at 7.11%, the payment is about $839 a month. Keeping that under 28% of gross income takes about $35,973 a year.
More about Faxon
- Mortgage Refinance in Faxon
- Debt Relief in Faxon
- Home Equity Loans in Faxon
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data