The typical owner-occupied home in Chester is worth about $227,300, 14% above the Oklahoma median of $199,800 and 32% below the national median of $332,700. Owners pay a median $1,262 a year in property taxes, about 0.56% of their home's value, lower than the Oklahoma rate of 0.80%. The median household earns $130,500 a year, so the median home costs 1.7 times the median income (3.1 times for Oklahoma). 89% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Chester at a glance
| Chester | Oklahoma | U.S. | |
|---|---|---|---|
| Median home value | $227,300 | $199,800 | $332,700 |
| Median property tax paid per year | $1,262 | $1,599 | $3,119 |
| Property tax as a share of value | 0.56% | 0.80% | 0.94% |
| Median household income | $130,500 | $65,039 | $80,734 |
| Homes lived in by their owners | 89% | 66% | 65% |
| Owner homes with a mortgage | 53% | 54% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,539 | $1,963 |
| Those costs as a share of the owners' income | 9.0% | 19.6% | 21.0% |
| Median rent | – | $1,014 | $1,413 |
| Median year homes were built | 1962 | 1980 | 1980 |
| Vacant homes | 59.6% | 12.0% | 10.1% |
| Population | 89 | 4,028,634 | 334,922,499 |
What a typical home costs per month in Chester
At this week's average 30-year rate of 7.11%, buying the median Chester home of $227,300 with 20% down costs about $1,424 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,803, 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 $61,030 for the 20%-down payment. That payment is 13% of the median Chester household income of $130,500; at that income and 20% down, the 28% guideline points to a home of about $486,000.
| Down payment | $45,460 |
|---|---|
| Loan amount | $181,840 |
| Principal and interest | $1,223 |
| Property taxes (0.56% a year) | $106 |
| Homeowners insurance (our estimate, 0.5% a year) | $95 |
| PMI | $0 |
| Total per month | $1,424 |
Change the numbers in the calculator
| Down payment | $7,956 |
|---|---|
| Loan amount | $223,183 |
| Principal and interest | $1,501 |
| Property taxes (0.56% a year) | $106 |
| Homeowners insurance (our estimate, 0.5% a year) | $95 |
| FHA mortgage insurance | $101 |
| Total per month | $1,803 |
Change the numbers in the calculator
Questions about home buying in Chester
What is the median home value in Chester?
About $227,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Chester?
Homeowners pay a median $1,262 a year, which is about 0.56% 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 Chester?
For the median home with 20% down at 7.11%, the payment is about $1,424 a month. Keeping that under 28% of gross income takes about $61,030 a year.
More about Chester
- Mortgage Refinance in Chester
- Debt Relief in Chester
- Home Equity Loans in Chester
- 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