The typical owner-occupied home in Grandfield is worth about $49,700, 75% below the Oklahoma median of $199,800 and 85% below the national median of $332,700. Owners pay a median $199 a year in property taxes, about 0.40% of their home's value, lower than the Oklahoma rate of 0.80%. The median household earns $29,811 a year, so the median home costs 1.7 times the median income (3.1 times for Oklahoma). 67% of occupied homes here are lived in by their owners, and 17% of those owners still have a mortgage.
Grandfield at a glance
| Grandfield | Oklahoma | U.S. | |
|---|---|---|---|
| Median home value | $49,700 | $199,800 | $332,700 |
| Median property tax paid per year | $199 | $1,599 | $3,119 |
| Property tax as a share of value | 0.40% | 0.80% | 0.94% |
| Median household income | $29,811 | $65,039 | $80,734 |
| Homes lived in by their owners | 67% | 66% | 65% |
| Owner homes with a mortgage | 17% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $850 | $1,539 | $1,963 |
| Those costs as a share of the owners' income | 32.5% | 19.6% | 21.0% |
| Median rent | $625 | $1,014 | $1,413 |
| Rent as a share of renters' income | 17.4% | 28.4% | 30.6% |
| Median year homes were built | 1968 | 1980 | 1980 |
| Vacant homes | 21.6% | 12.0% | 10.1% |
| Population | 940 | 4,028,634 | 334,922,499 |
What a typical home costs per month in Grandfield
At this week's average 30-year rate of 7.11%, buying the median Grandfield home of $49,700 with 20% down costs about $305 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $388, 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 $13,061 for the 20%-down payment. That payment is 12% of the median Grandfield household income of $29,811; at that income and 20% down, the 28% guideline points to a home of about $113,000.
The median rent here is $625 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $9,940 |
|---|---|
| Loan amount | $39,760 |
| Principal and interest | $267 |
| Property taxes (0.40% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $21 |
| PMI | $0 |
| Total per month | $305 |
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| Down payment | $1,740 |
|---|---|
| Loan amount | $48,800 |
| Principal and interest | $328 |
| Property taxes (0.40% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $21 |
| FHA mortgage insurance | $22 |
| Total per month | $388 |
Change the numbers in the calculator
Questions about home buying in Grandfield
What is the median home value in Grandfield?
About $49,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Grandfield?
Homeowners pay a median $199 a year, which is about 0.40% 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 Grandfield?
For the median home with 20% down at 7.11%, the payment is about $305 a month. Keeping that under 28% of gross income takes about $13,061 a year.
More about Grandfield
- Mortgage Refinance in Grandfield
- Debt Relief in Grandfield
- Home Equity Loans in Grandfield
- 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