Quick facts: Elk city, KS

Quick Facts

97.6
Cost of Living
below US average
257
Population
58.37
Crime Rate per 1000
above US average
$31,250
Median Income
below US average
$280,000
Median House Price
above US average
$1299
Average Rent
below US average
14%
Poverty Rate
above US average
4.0%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $31,250.

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Income Needed to Buy

βœ— Stretch
$88k/year
Based on $280,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $88k vs median $31,250
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Income Needed to Rent

⚠ Stretch
$56k/year
Based on $1299/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $56k vs median $31,250
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Elk city, KS

Elk City, Kansas, located in the southeastern part of the state, is a small but vibrant community in Montgomery County. With a population of around 1,000 residents, Elk City offers a tight-knit, friendly atmosphere. The town is situated near the scenic Elk River, providing residents with opportunities for outdoor activities such as fishing, hiking, and picnicking. Elk City’s history is deeply rooted in agriculture, with many residents participating in farming and ranching. The area showcases classic Midwestern charm with its historic buildings and local parks. Educational opportunities are provided by the local school district, which focuses on building a strong foundation for its students. The community hosts several events throughout the year, bringing residents together and promoting local culture. Elk City is also conveniently located near larger cities like Independence and Coffeyville, allowing for easy access to additional amenities, shopping, and entertainment. Overall, Elk City embodies the spirit of small-town Kansas, with a strong sense of community and a peaceful way of life.

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