The typical owner-occupied home in Medicine Park is worth about $331,500, 66% above the Oklahoma median of $199,800 and about the same as the national median of $332,700. Owners pay a median $2,100 a year in property taxes, about 0.63% of their home's value, lower than the Oklahoma rate of 0.80%. The median household earns $124,000 a year, so the median home costs 2.7 times the median income (3.1 times for Oklahoma). 96% of occupied homes here are lived in by their owners, and 72% of those owners still have a mortgage.
Medicine Park at a glance
| Medicine Park | Oklahoma | U.S. | |
|---|---|---|---|
| Median home value | $331,500 | $199,800 | $332,700 |
| Median property tax paid per year | $2,100 | $1,599 | $3,119 |
| Property tax as a share of value | 0.63% | 0.80% | 0.94% |
| Median household income | $124,000 | $65,039 | $80,734 |
| Homes lived in by their owners | 96% | 66% | 65% |
| Owner homes with a mortgage | 72% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $2,295 | $1,539 | $1,963 |
| Those costs as a share of the owners' income | 16.3% | 19.6% | 21.0% |
| Median rent | $1,167 | $1,014 | $1,413 |
| Rent as a share of renters' income | 13.3% | 28.4% | 30.6% |
| Median year homes were built | 2003 | 1980 | 1980 |
| Vacant homes | 42.0% | 12.0% | 10.1% |
| Population | 418 | 4,028,634 | 334,922,499 |
What a typical home costs per month in Medicine Park
At this week's average 30-year rate of 7.11%, buying the median Medicine Park home of $331,500 with 20% down costs about $2,096 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,648, 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 $89,836 for the 20%-down payment. That payment is 20% of the median Medicine Park household income of $124,000; at that income and 20% down, the 28% guideline points to a home of about $458,000.
The median rent here is $1,167 a month, so owning the median home costs about $929 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $66,300 |
|---|---|
| Loan amount | $265,200 |
| Principal and interest | $1,784 |
| Property taxes (0.63% a year) | $174 |
| Homeowners insurance (our estimate, 0.5% a year) | $138 |
| PMI | $0 |
| Total per month | $2,096 |
Change the numbers in the calculator
| Down payment | $11,602 |
|---|---|
| Loan amount | $325,496 |
| Principal and interest | $2,190 |
| Property taxes (0.63% a year) | $174 |
| Homeowners insurance (our estimate, 0.5% a year) | $138 |
| FHA mortgage insurance | $147 |
| Total per month | $2,648 |
Change the numbers in the calculator
Questions about home buying in Medicine Park
What is the median home value in Medicine Park?
About $331,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Medicine Park?
Homeowners pay a median $2,100 a year, which is about 0.63% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Medicine Park?
For the median home with 20% down at 7.11%, the payment is about $2,096 a month. Keeping that under 28% of gross income takes about $89,836 a year.
More about Medicine Park
- Mortgage Refinance in Medicine Park
- Debt Relief in Medicine Park
- Home Equity Loans in Medicine Park
- 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