The typical owner-occupied home in Grove is worth about $244,300, 22% above the Oklahoma median of $199,800 and 27% below the national median of $332,700. Owners pay a median $1,835 a year in property taxes, about 0.75% of their home's value, lower than the Oklahoma rate of 0.80%. The median household earns $58,941 a year, so the median home costs 4.1 times the median income (3.1 times for Oklahoma). 66% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Grove at a glance
| Grove | Oklahoma | U.S. | |
|---|---|---|---|
| Median home value | $244,300 | $199,800 | $332,700 |
| Median property tax paid per year | $1,835 | $1,599 | $3,119 |
| Property tax as a share of value | 0.75% | 0.80% | 0.94% |
| Median household income | $58,941 | $65,039 | $80,734 |
| Homes lived in by their owners | 66% | 66% | 65% |
| Owner homes with a mortgage | 52% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,466 | $1,539 | $1,963 |
| Those costs as a share of the owners' income | 23.8% | 19.6% | 21.0% |
| Median rent | $925 | $1,014 | $1,413 |
| Rent as a share of renters' income | 28.4% | 28.4% | 30.6% |
| Median year homes were built | 1991 | 1980 | 1980 |
| Vacant homes | 17.0% | 12.0% | 10.1% |
| Population | 7,176 | 4,028,634 | 334,922,499 |
What a typical home costs per month in Grove
At this week's average 30-year rate of 7.11%, buying the median Grove home of $244,300 with 20% down costs about $1,569 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,976, 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 $67,252 for the 20%-down payment. That payment is 32% of the median Grove household income of $58,941; at that income and 20% down, the 28% guideline points to a home of about $214,000.
The median rent here is $925 a month, so owning the median home costs about $644 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $48,860 |
|---|---|
| Loan amount | $195,440 |
| Principal and interest | $1,315 |
| Property taxes (0.75% a year) | $153 |
| Homeowners insurance (our estimate, 0.5% a year) | $102 |
| PMI | $0 |
| Total per month | $1,569 |
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| Down payment | $8,550 |
|---|---|
| Loan amount | $239,875 |
| Principal and interest | $1,614 |
| Property taxes (0.75% a year) | $153 |
| Homeowners insurance (our estimate, 0.5% a year) | $102 |
| FHA mortgage insurance | $108 |
| Total per month | $1,976 |
Change the numbers in the calculator
Questions about home buying in Grove
What is the median home value in Grove?
About $244,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Grove?
Homeowners pay a median $1,835 a year, which is about 0.75% 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 Grove?
For the median home with 20% down at 7.11%, the payment is about $1,569 a month. Keeping that under 28% of gross income takes about $67,252 a year.
More about Grove
- Mortgage Refinance in Grove
- Debt Relief in Grove
- Home Equity Loans in Grove
- 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